We Study Billionaires - The Investor’s Podcast Network TIP252: The Bitcoin Impact w/ Trace Mayer
Jul 21, 2019
Trace Mayer, a Bitcoin expert and early investor in Kraken Exchange and BitPay, shares his insights into the future of cryptocurrency. He discusses how to evaluate Bitcoin through the Mayer Multiple and emphasizes the need for trust in a new monetary system. Mayer also predicts what Bitcoin might look like in five years, delves into the conversation about its energy consumption, and highlights Bitcoin's role in transforming financial decision-making and societal dynamics. Get ready for a thought-provoking look at the evolution of Bitcoin!
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Early Influences
- Trace Mayer's parents instilled strong financial values early on, encouraging entrepreneurship and money management.
- From collecting cans for a bicycle to selling Otter Pops and running a soda machine, he developed a business acumen from a young age.
Academic Journey
- Trace Mayer's interest in macroeconomics and monetary theory developed while trading stocks and writing a law school paper on the history of American currency.
- This research, coupled with his experience with digital platforms like Napster and BitTorrent, prepared him for Bitcoin.
Bitcoin as Trust
- Bitcoin's core value lies in establishing trust through a new system, moving from double to triple-entry bookkeeping.
- This fosters trust by increasing transparency and immutability in financial transactions and beyond.