The Bitcoin Classroom Part 2: Bitcoin’s Intrinsic Value
The Bitcoin Layer
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Intro
This chapter examines how Bitcoin influences traditional economic models, focusing on its effects on consumption and savings. The speakers discuss the potential consequences of Bitcoin appreciation on spending behavior and challenge established economic theories regarding growth and investment in a Bitcoin-centric economy.
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In this episode, USC professor Nik Bhatia continues answering questions from economics student Demian Schatt, diving deeper into the challenges and opportunities of integrating Bitcoin into modern economic systems. Demian asks about Bitcoin's impact on savings, its intrinsic value, and the feasibility of a Bitcoin-backed system. Nik explains how mining and hashing create Bitcoin’s value, reflects on lessons from historical bank runs, and explores Bitcoin’s coexistence with fiat as an alternative asset. Wrapping up, they consider the potential future of banking in a Bitcoin-centric world and the importance of understanding Bitcoin’s technical and economic foundations for shaping sustainable financial systems.
The Bitcoin Layer is a bitcoin and global macroeconomic research firm.
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