Decoder with Nilay Patel

Is there a future for Bitcoin? An investor and a skeptic make their case

Apr 6, 2021

Nic Carter, a Bitcoin advocate and partner at Castle Island Ventures, contrasts sharply with Steve Hanke, a skeptic and economics professor at Johns Hopkins. They dive into Bitcoin's dual identity as a currency and an asset, discussing its viability against fiat currencies, especially in unstable economies. The conversation touches on Bitcoin's transaction limitations, emerging alternatives, and its speculative nature. They also tackle the historical shift from gold to crypto, questioning value and the potential risks associated with Bitcoin's evolution.

01:20:56

Episode guests

Steve H. Hanke

Nic Carter

AI Chapters

Episode notes

Intro

2min

Bitcoin: Perspectives and Polarization

25min

The Future of Bitcoin: Debate and Disruption

7min

Bitcoin's Evolving Landscape

29min

Bitcoin and Its Relationship with the Dollar: Speculation and Stability

5min

The Currency Evolution: Gold vs. Bitcoin

4min

The Rise of Competitive Currencies

9min

Nilay Patel interviews two experts on different sides of the bitcoin argument: a bitcoin investor and bitcoin skeptic.

The investor is Nic Carter. He’s a general partner at Castle Island Ventures, which funds startups that are building on top of the bitcoin infrastructure to make payments more accessible — basically, making sure bitcoin can function like a currency.

The skeptic is Steve Hanke. He is a professor of Applied Economics at Johns Hopkins University, senior fellow and director of the Troubled Currencies Project at the Cato Institute, a former member of President Ronald Reagan’s Council of Economic Advisers, and was the president of Toronto Trust Argentina in Buenos Aires when it was the world’s best performing mutual fund in 1995. He has also advised other countries on how to deal with hyperinflation and how to stabilize currencies.

Nilay asks them both questions about bitcoin’s place in the market and pushes them on the shakier parts of their arguments.

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