We compare the U.S. dollar with Bitcoin on their key attributes to determine which is better for transactions and preserving wealth, which is most absurd and which has serious flaws.
Topics covered include:
- How are new U.S. Dollars and Bitcoin created
- How much has the supply of each currency grown
- How both the dollar and Bitcoin have had rule changes
- Why Bitcoin transactions are faster than non-cash U.S. dollar transactions
- Why both the dollar and Bitcoin require add-on layers to facilitate transactions
- How tax treatment of a currency can encourage or discourage its use for payments
- Why divisibility is a critical attribute of any currency
- Why Bitcoin has been as volatile as the Russian ruble
- Why Bitcoin is energy inefficient while having built-in incentives to use renewable energy
- What will determine the long-term viability of Bitcoin and the U.S. dollar
For more information on this episode click here.
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Show Notes
Check Processing—Federal Reserve Bank of New York
Gold Reserve Act of 1934—Federal Reserve History
Creation of the Bretton Woods System—Federal Reserve History
A Complete Guide to Understanding and Protecting Against Inflation—Money For the Rest of Us
Bitcoin: A Peer-to-Peer Electronic Cash System by Satoshi Nakamoto—Bitcoin
Mapping the Major Bitcoin Forks by Ashley Viens—Visual Capitalist
Total Circulating Bitcoin Chart—Blockchain
There’s Enough Bitcoin For Everyone by Paul Opoku—Nasdaq
Lightning Network: Scalable, Instant Bitcoin/Blockchain Transactions
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