Chapter
Bitcoin's Base Layer vs. Gold-Like Commodity
23:29 - 29:29 (05:59)
Bitcoin faces a dilemma on whether to remain a low fee P2P payment system or become a digital commodity that settles infrequently between institutions as it proposes a non-discretionary monetary policy that aims to emulate cash-like instruments for transactions.
Clips
This podcast talks about a device that can be used to settle Bitcoin transactions instantly, like cash transactions.
23:29 - 26:08 (02:38)
Summary
This podcast talks about a device that can be used to settle Bitcoin transactions instantly, like cash transactions. The device generates a private key that always stays on the device, making it a digital cash-like instrument for transactions.
ChapterBitcoin's Base Layer vs. Gold-Like Commodity
Episode#173 – Nic Carter: Bitcoin Core Values, Layered Scaling, and Blocksize Debates
PodcastLex Fridman Podcast
The guest brings 12 sided dice with various criticisms of Bitcoin on them, highlighting the formal critiques of Bitcoin as well as the need to transact through the internet.
26:08 - 27:14 (01:06)
Summary
The guest brings 12 sided dice with various criticisms of Bitcoin on them, highlighting the formal critiques of Bitcoin as well as the need to transact through the internet.
ChapterBitcoin's Base Layer vs. Gold-Like Commodity
Episode#173 – Nic Carter: Bitcoin Core Values, Layered Scaling, and Blocksize Debates
PodcastLex Fridman Podcast
Bitcoin proposes an algorithmic monetary policy based on non-discretionary rules, one of which being that the currency decays over time.
27:14 - 29:29 (02:14)
Summary
Bitcoin proposes an algorithmic monetary policy based on non-discretionary rules, one of which being that the currency decays over time. This creates a debate on whether Bitcoin should prioritize being a low-fee payment system or a gold-like digital commodity for infrequent institutional settlements.