There are always risks to Bitcoin that the community needs to be prepared for, so it is vital to educate people about Bitcoin and its long-term potential. Whilst its advantages are more immediately obvious to the people and governments in developing countries, Bitcoin’s importance extends to all people and all countries. This simplicity contrasts starkly with the complex and convoluted monetary policies of central banks and governments.īitcoin therefore offers a global, decentralised ledger that allows for easy cross-border transactions and protects against debasement. Its decentralised nature protects this monetary policy from being corrupted. It is unsurprising that it has emerged at the end of the long-term debt cycle, as an innovation that unified various technical concepts developed over previous decades, with the aim of creating a form of money suitable for the digital age.īut perhaps more important than the technical aspects of Bitcoin is the rigid and predictable monetary policy, which consists of two simple rules: a fixed limit of 21 million coins and a halving of the inflation rate every 210,000 blocks (approximately every four years). It is different from previous monetary innovations as it allows hard asset money to move globally at the speed of digital communications, which could revolutionise the financial system. This has led to the current system where physical money is too slow for the modern global economy.īitcoin is a potential solution to all these issues. However, the increasing level of abstraction in these tools has caused major issues, especially with the rise of telecommunications. Humans have been trying to make gold and silver easier to use for thousands of years, leading to the development of various banking tools. In short, money is broken.Īt a more fundamental level, there are serious technical limitations with current forms of money. At the state level, many countries are facing serious challenges in accumulating capital and making global payments. The money supply continues to inflate, rewarding large, well-connected entities at the expense of smaller ones, with liabilities shifting from the private to the public sector. It is becoming increasingly clear, even to people without expertise in monetary or fiscal matters, that the current economic system is in need of urgent reform. In this show, we recap the flaws in the modern financial system, and then we discuss the potential of Bitcoin as a decentralised solution with its ability to allow hard asset money to move globally at speed. I was convinced that Bitcoin had enough of a network effect to hold value. Lyn graduated high school at a local private school in her hometown. This interview is the final of three shows where we discuss Lyn’s amazing new book: Broken Money. Lyn Alden is the founder of Lyn Alden Investment Strategy, where she. Lyn Alden Wiki/Biography (Gender & Education) Lyn Alden was born in an American family in the year 1988 in New Jersey, USA.Her full name is Lyn Alden Schwartzer while her zodiac sign remains unknown. Lyn Alden is a macroeconomist and investment strategist.
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