3min chapter

The "What is Money?" Show cover image

Bitcoin is Insurance on a Failing Financial System with Greg Foss (WiM169)

The "What is Money?" Show

CHAPTER

What Is Driving the Rates Collapsing?

The fiot currency is enriching those near the top rate expense of those near the bottom. There's going to come a point where you pushed the people near the bottom to the edge of their economic livelihood, eh, they're going to go over the edge, right? Thats when you get social revolt, or you get hiacintlation, or these types of events. Yes, yethis kind of like the old adage, hope for the best, plan for the worst yet. But we are to be very clear. You say ponds, i often say pyramid scheme. Ok? That's exactly what the fiot currency was at. And that's obviously not a sustainable model

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode