Chapter
The Effects of a Bitcoin-Denominated Society
1:57:34 - 2:01:31 (03:56)
If the world was denominated in Bitcoin, people would behave differently and society would be less focused on consumption, according to this podcast. However, there is a false equivalency between growth and sound money, and the belief that people need to consume or end up at the bottom economically needs to be reevaluated.
Clips
The way individuals think about a currency affects their financial behavior, with a devaluing currency as the denominator making people more incentivized to spend and invest, while an appreciating currency makes them less inclined to be consumptive.
1:57:34 - 1:58:44 (01:09)
Summary
The way individuals think about a currency affects their financial behavior, with a devaluing currency as the denominator making people more incentivized to spend and invest, while an appreciating currency makes them less inclined to be consumptive. In history, people used to think about currencies in this manner until the introduction of fiat currency led to an explosion in growth.
ChapterThe Effects of a Bitcoin-Denominated Society
Episode#171 – Anthony Pompliano: Bitcoin
PodcastLex Fridman Podcast
The relationship between currency, growth and society is a complicated one.
1:58:44 - 2:01:31 (02:46)
Summary
The relationship between currency, growth and society is a complicated one. While some see the dependence on growth as necessary, others argue that the focus on growth can lead to problems.