The Bitcoin Classroom Part 3: Bitcoin’s Scarcity and Global Impact
The Bitcoin Layer
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Bitcoin's Role in Economic Inequality and Stability
This chapter delves into the relationship between Bitcoin and economic disparities, examining its potential impact on inequality. It emphasizes Bitcoin's democratizing effects in developing nations and questions how increased adoption might influence price stability and financial equity.
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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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