Bitcoin is not built for transaction and has expensive fees. However, holding Bitcoin in a wallet rather than a proxy is important for protection against government intervention.
Money has evolved throughout history, from the use of shells to gold and now cryptocurrencies like Bitclout. Understanding the financial and macroeconomic incentives behind these currencies requires a high level of technological and economic literacy.
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.
The podcast discusses the potential of using stable coins to trade crypto and improve the mortgage record-keeping system while noting the emergence of a "bullsh*t caucus" that publicly denounces cryptocurrency.
In this podcast episode, the speaker discusses the concept of "shitcoins" and how they are defined by those who have a maximalistic view of the world. He also mentions how some proponents of Bitcoin see value in other cryptocurrencies like Ethereum.