Capitalisn't
The Capitalisn't of Crypto: SBF and Beyond, with Zeke Faux
Nov 16, 2023
Zeke Faux, Bloomberg News investigative reporter, discusses the rise and fall of cryptocurrency, its relationship with capitalism, and the conviction of crypto entrepreneur SBF. They explore the challenges of Bitcoin as a replacement for central authority, the fraud surrounding FTX, criticism of stereotypical investments, the limitations of Bitcoin as a medium of exchange, and contrasting views on money.
52:43
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Quick takeaways
- Crypto can be a speculative store of value despite its inability to function as an effective medium of exchange due to high volatility.
- Stable coins backed by fiat currency have the potential to address price volatility, but they depend on proper auditing and regulation to serve as a medium of exchange.
Deep dives
Crypto as a Medium of Exchange and Store of Value
Crypto, such as Bitcoin and Ether, is not an effective medium of exchange due to its high volatility, making it challenging to maintain a stable value. However, it can serve as a speculative store of value, attracting investors looking for potential gains.
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