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

The Bitcoin Standard Podcast

CHAPTER

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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