In this episode, USC professor Nik Bhatia continues answering questions from economics student Demian Schatt, diving deeper into the challenges and opportunities of integrating Bitcoin into modern economic systems. Demian asks about Bitcoin's impact on savings, its intrinsic value, and the feasibility of a Bitcoin-backed system. Nik explains how mining and hashing create Bitcoin’s value, reflects on lessons from historical bank runs, and explores Bitcoin’s coexistence with fiat as an alternative asset. Wrapping up, they consider the potential future of banking in a Bitcoin-centric world and the importance of understanding Bitcoin’s technical and economic foundations for shaping sustainable financial systems.

The Bitcoin Layer is a bitcoin and global macroeconomic research firm.

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