#19 – Logan Chipkin: Understanding Economics
Arjun Khemani Podcast
Bitcoin: The Next Base Layer of Money for Humanity
With Bitcoin the rules of the game are determined by the nodes and a subset of those nodes are Bitcoin miners. That's not much different than a fiat currency system in the first place that we're trying to solve for with Bitcoin. With cryptocurrency X that applies proof of stake if I own 51% of the tokens by dent of the fact that it uses proof of stake now I control the rules. So I'll pause there. I know I skipped over a lot of technical details but feel free to ask me whatever you want as follow up.
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