The Bitcoin Classroom Part 3: Bitcoin’s Scarcity and Global Impact
The Bitcoin Layer
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The Dynamics of Money Creation and Lending in Banking
This chapter delves into how banks create money through lending processes and the implications of this practice on the economy. It also examines the future of financing in a world influenced by Bitcoin, discussing the potential shifts in lending practices and their repercussions.
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In this episode, USC professor Nik Bhatia builds on his conversation with economics student Demian Schatt, addressing new questions about Bitcoin’s hard cap, credit systems, and global accessibility. Demian asks whether the fixed supply of 21 million coins limits Bitcoin’s adoption and how it fits into a world reliant on credit. Nik explains the dynamics of lending in a Bitcoin-based system, explores the role of stablecoins like Tether in volatile economies, and discusses Bitcoin’s potential to empower individuals in inflationary environments. They close by exploring whether Bitcoin could reduce inequality and how its adoption might impact wealth distribution over time.
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