The Currency Evolution: Gold vs. Bitcoin

Nilay Patel interviews two experts on different sides of the bitcoin argument: a bitcoin investor and bitcoin skeptic.

The investor is Nic Carter. He’s a general partner at Castle Island Ventures, which funds startups that are building on top of the bitcoin infrastructure to make payments more accessible — basically, making sure bitcoin can function like a currency.

The skeptic is Steve Hanke. He is a professor of Applied Economics at Johns Hopkins University, senior fellow and director of the Troubled Currencies Project at the Cato Institute, a former member of President Ronald Reagan’s Council of Economic Advisers, and was the president of Toronto Trust Argentina in Buenos Aires when it was the world’s best performing mutual fund in 1995. He has also advised other countries on how to deal with hyperinflation and how to stabilize currencies.

Nilay asks them both questions about bitcoin’s place in the market and pushes them on the shakier parts of their arguments.

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