The "What is Money?" Show Bitcoin: The Exit from the Economic Dark Ages with Robert Breedlove (WiM471)
May 15, 2024
Robert Breedlove discusses leaving the economic dark ages and hurdles to understanding Bitcoin. They talk about the impact of currency failures on rich and poor, how Bitcoin changes investing and government, and recommendations for the next 10 years. The conversation explores the evolution of ages from agriculture to Bitcoin, justice in central banking vs. Bitcoin, and the influence of metaphors on language and thought processes.
AI Snips
Chapters
Transcript
Episode notes
Bitcoin As The First Pure Money
- Bitcoin may be the first money with 100% monetary premium, unlike fiat or gold which carry liabilities or industrial uses.
- This makes Bitcoin a purer store of purchasing power and a novel invention in monetary history.
Adoption By Study Versus Pain
- People commonly adopt Bitcoin via two roads: study (proof-of-work) or direct pain from fiat failures.
- Breedlove expects most will be "orange-pilled" by experiencing fiat pain like inflation or capital controls.
Learn From Currency History Now
- Study the history of fiat failures to learn from others rather than waiting to suffer the pain yourself.
- Prioritize understanding money now because historical patterns repeat across currencies.