In this special edition episode of WiM, Linda Hill joins me to ask some beginner-level questions about Bitcoin, and I attempt to answer them as simply and as thoroughly as possible.
Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/
OUTLINE 00:00:00 “What is Money?” Intro 00:00:08 What is Crypto? 00:10:08 Who Invented Bitcoin? 00:13:39 What Makes Gold Valuable? 00:15:42 Properties of Money 00:22:35 Scarcity of Money 00:32:36 NYDIG 00:33:43 Bitcoin’s Properties Replicating the Properties of Gold 00:39:24 Phases of Money 00:44:12 The Emergence of Government in Protecting Money 00:47:18 Bitcoin’s Phases of Becoming Money 00:52:49 Why Bitcoin and Not Other Cryptoassets? 01:01:53 What Makes Bitcoin Safe? 01:09:39 What is a Node and what is Mining Bitcoin? 01:19:33 Mining as a Lottery 01:21:34 The Dynamics of Price Fluctuations in Bitcoin/Markets 01:31:18 Value and Worth 01:36:39 Bitcoin and Taxes 01:42:00 Argument Against Taxation 01:49:12 History of Coercion by Governments 01:54:23 Energy & Bitcoin 02:01:14 Proof of Stake 02:05:40 Why Bitcoin is Not a Ponzi Scheme 02:10:09 Inflation Promoting Gambling