The "What is Money?" Show Bitcoin: The First and Last Engineered Money w/ CJ Konstantinos (WiM570)
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Apr 12, 2025 CJ Konstantinos, a Bitcoin analyst and strategist known for his insights on Bitcoin's economic properties, dives deep into the transformative power of Bitcoin. He discusses Bitcoin's engineered nature as a solution to the flaws in fiat currencies, emphasizing its digital scarcity. The analysis extends to Bitcoin's evolution from a commodity to a recognized monetary asset, the risks of traditional finance, and the potential for Bitcoin to foster self-sovereign communities. Konstantinos also explores how Bitcoin can challenge national debt and drive financial independence.
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Fiat's Fatal Flaw
- Debt-based money, or fiat currency, must constantly expand its supply to exist.
- This constant expansion erodes purchasing power, making saving in fiat counterproductive.
Engineered Money
- Bitcoin is engineered money, an upgrade to gold's natural money status.
- Its absolute digital scarcity and difficulty adjustment create a savings technology, driving value appreciation.
Bitcoin's Virtuous Cycle
- Bitcoin's design creates a vortex of positive incentives, driving up production costs.
- This cost increase, combined with engineered scarcity, pushes the market price higher.