Larry White on Gold, Fiat, and Bitcoin: Determining the Ideal Monetary Standard
Macro Musings with David Beckworth
00:00
Bitcoin: A Medium of Exchange
Bitcoin is a cryptocurrency, which means it's an asset that doesn't exist in any physical form. Bitcoin exchanges were created to let the people who had Bitcoin sell it to the people who didn't have them. The price of Bitcoin starts out at a fraction of a cent but as word spreads you can actually transfer ownership and the program works.
Play episode from 44:15
Transcript
