Matthew Mežinskis on Bitcoin as Base Money

Mr Obnoxious - Podcast autorstwa Peter McCormack

Kategorie:

Location: Skype
Date: Thursday, 3rd October
Project: Crypto Voices
Role: Host

The monetary base is the amount of currency in any one country. It is a combination of both the circulating supply and money held in reserve at the central bank. In the 1900s, the global base currency was gold; however, in 1971, the U.S severed all ties with the gold standard and the monetary base changed to being government-issued fiat currency.

In a government-issued fiat-based monetary system, the government controls the printing and inflation of its currency. This allows governments to increase the monetary base at will. Whereas previous base money, gold, was hard to inflate, with fiat money it is easy. This leads to, for example, the U.S global base money rising from $100 billion to $19.2 trillion since 1970.

With Bitcoin, however, issuance and supply are fixed. There will only ever be 21 million created, with the issuance dropping every four years and no ability to inflate the supply. Could this lead to Bitcoin becoming the next global base money?

In this interview, I talk to Matthew Mezinskis from CryptoVoices. Matthew explains what base money is and if Bitcoin will ever become the worlds base money. We also discuss what money is, the gold standard, central banks holding Bitcoin and decentralisation.

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Connect with Matthew and Crypto Voices:
- On Twitter @crypto_voices
- The Website

Mentioned in the interview:
- Cypherpunks
- M1, M2. M3 monetary supply
- History of Money and Banking in the United States by Murray Rothbard
- International Monetary Fund
- OECD
- The Nazis stole Europe's gold
- Nazi Gold in WWII
- Chasing Gold (book)
- Venezuelan crisis and hyperinflation
- The UK withholding Venezuela’s gold
- Swiss central bank stock portfolio
- Swedish central banks gold and foreign currency reserve
- Quantitative Easing
- Floating currency
- Gold’s price history
- 2008 financial crisis
- George Selgin on Crypto Voices
- The Crypto Voices global monetary base

Other relevant WBD podcasts:
- WBD154: Plan₿ on Bitcoin’s Stock to Flow
- WBD151: Caitlin Long, Trace Mayer & Tyler Lindholm on Reducing the Size of Government
- WBD150: Erik Voorhees on Understanding Libertarianism
- WBD141: Stephan Livera on Austrian Economics, Libertarianism and Bitcoin
- WBD140: Raoul Pal on Bitcoin as a Global Recession Hedge
- WBD127 - Saifedean Ammous on Understanding Bitcoin Economics
- WBD036 - The Threat of Fractional Reserve Bitcoin from Wall Street with Saifedean Ammous & Caitlin Long
- WBD032 - Tuur Demeester on the Looming Debt Crisis and Central Banks for Bitcoin

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