The Pomp Podcast
#1514 Nik Bhatia | Buying Bitcoin Makes Your Life 99% Cheaper
Mar 26, 2025
Nik Bhatia, Founder of the Bitcoin Layer and author of 'Bitcoin Age,' dives deep into the world of Bitcoin. He argues that self-custody of Bitcoin may be protected under the First Amendment, positioning it as both an asset and a form of expression. Bhatia discusses the deflationary nature of Bitcoin compared to the dollar, its potential to aid the middle class, and the implications of globalization on American workers. He envisions transformative changes in economics, highlighting Bitcoin's revolutionary role in financial technology.
46:56
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Quick takeaways
- Bitcoin serves as a stable savings mechanism that preserves wealth over time, contrasting with the inflationary dollar system.
- The evolving regulatory environment for Bitcoin by the U.S. government enhances its legitimacy and encourages broader public acceptance and participation.
Deep dives
The Dynamics of Dollar and Bitcoin Pricing
Prices in a dollar-denominated system tend to rise due to the nature of credit money, which is designed to expand to avoid defaults. Technology plays a significant role in deflation, reducing costs and improving productivity. However, this same deflationary pressure poses a risk to banks and lenders, as declining prices can make debts harder to service. Conversely, Bitcoin's design promotes price decreases over time due to its fixed supply of 21 million coins, meaning that as technology and efficiency improve in the economy, Bitcoin increases in value relative to dollar-denominated prices.
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