WiM026 - Money Hierarchies with Nik Bhatia
The "What is Money?" Show
00:00
Bitcoin
Second layer money is inherently unstable, as the power to create it will always be subject to human abuse. So we weave to the issuer or the custodian of the first l themselves. They now get this additional optionality in the market place. But with that comes the temptation, an incentive, overtime, to abuse that. It just cuts out the need for this counterparty risk which has been so integral to monetary hierarchies historically. And you have to be a dreamer to embrace that and how important bit coin can be.
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