Chapter
Crypto is Not yet a Functional Currency
2:32:02 - 2:37:47 (05:44)
The speaker believes that currently, cryptocurrency is unable to function as money. Furthermore, gold has a unique value beyond its use as a currency, which is linked to the human attraction to shiny things.
Clips
The speaker believes that currently, crypto cannot function as money due to its lack of stability.
2:32:02 - 2:34:11 (02:08)
Cryptocurrency
Summary
The speaker believes that currently, crypto cannot function as money due to its lack of stability. However, he discusses how he is able to use his airline models as money because they have a fluctuating value.
ChapterCrypto is Not yet a Functional Currency
Episode#178 – Michael Malice and Yaron Brook: Ayn Rand, Human Nature, and Anarchy
PodcastLex Fridman Podcast
The demand for gold is driven not just by its use as currency but also by an innate attraction to its shiny surface, resulting in a beautiful mechanism in the market.
2:34:11 - 2:37:47 (03:35)
Gold
Summary
The demand for gold is driven not just by its use as currency but also by an innate attraction to its shiny surface, resulting in a beautiful mechanism in the market. Additionally, gold has value beyond its use as money or currency.