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Can Bitcoin Replace Government-Issued Money? Saifedean Ammous debates George Selgin

The Bitcoin Standard Podcast

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Distinction between Medium of Exchange and Means of Payment

This chapter explores the difference between something being used as a medium of exchange and something being used as a means of payment. The speakers compare PayPal as a method of payment to the dollar as a medium of exchange, and discuss the limitations of Bitcoin in handling as many transactions as Visa. They also touch upon the concept of final settlement in the fiat system.

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