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cypto news 13

#1
yeah, so it’s basically that perhaps we’re living in an era of unlimited leverage for now, which makes basically everything funded including bitcoin, and all the ICOs, and all the crazy projects. What happens if that funding just isn’t there anymore? Does bitcoin still stand up on its own, or is it a product all this free money all around the world that’s just looking for risk? As you mentioned, appetites for risk are growing just because there is so much leverage out there that you can take in going.
Meltem Demirors: (23:16)
The hunt for yield, right? There is a hunt for yield because ultimately what we’re relying on here in the US, and in many other Western developed economies, we have a population that is retiring, and pensions are underfunded. There are all of these social liabilities that need to get paid for, and historically the way we’re paid for them is through the compounding of interest, and through yield, and when that stops working the only other alternatives is to extract it sort of from society through taxation, or through inflation, right?
Meltem Demirors: (23:51)
And we’re seeing that effect around the world. You look at what’s happening in Chile, you look at what’s happening in Argentina, you look at what’s happening in Hong Kong, you look at what’s happening in the UK. There’s only so much you can squeeze that out of a system, so I think there’re a lot of fundamental existential questions about the relevance of nation-states, the relevance of currencies generally, and what I think is so interesting about bitcoin if we leave aside sort of the price of bitcoin, and these arguments around bitcoin as sound money, and these things that are very exciting, I think what’s even more interesting is the questions that bitcoin introduces to the conversation.
Meltem Demirors: (24:33)
So when people first learn about bitcoin I think it opens their mind to the idea that there is a different choice, because we’ve never really contemplated a world where I could hold something other than government-issued currency, and so that to me is the more interesting, and more profound question, and now of course with China announcing the digital renminbi with a lot of US corporations including Facebook looking at getting involved in the currency game in different ways, or in the cryptocurrency game, or other versions of digitized dollar, or digitized store value, I think it starts to get really interesting.
Nolan Bauerle: (25:12)
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