Prior to the existance of Layered Money there was simply money.Money is a tool which allows peers the exchange of goods within a consensus value.

Money

Let's see different forms of money used historicaly:<ul><li>Seashells</li><li>Animal Teeth</li><li>Jewelry</li><li>Livestock</li><li>Iron tools</li></ul>And then...GOLD & SILVER appeared.

Forms of Money

Initialy, gold and silver coins were issued as a first-layer form of money. Which means that coins where backed by its own value depending of the purity of gold/silver contained.First records of coins usage trace back to around 700 BC in Lydia, modern-day Turkey.Over the years, each region minted their own coins, which varied in gold/silver purity.

Gold & Silver Coins

Gold & Silver Coins were a huge implementation for humanity growth & evolution. Unfortunately they had some cons:<ul><li>Coin Multiplicy: There were too many different currencies, which was an issue to money velocity (how quickly money changes hands).</li><li>Risks of Physical Transfer: sending coins across land and sea was dangerous and a logistical nightmare during the medieval era.</li></ul>

Cons of Gold & Silver Coins Usage

"Always and everywhere, monetary systems are hierarchical."

First of all we need to see the difference between first layer & second layer money:<ul><li>A gold coin - First Layer Money.</li><li>A piece of paper (bills of exchange) that says: "The Medici banking family will pay one gold coin to the bearer on demand". - Second Layer Money.</li></ul>The gold coin is a first layer money because it is the basis of the monetary system. If the gold coin wouldn't exist the piece of paper wouldn't neither.

Medici Banking Dynasty

With the emerging layered money the arise of centralized entities was a matter of time.The first to appear and take control of the monetary system were the Bank of Amsterdam and the Bank of England.Both entities gave unpredecented power over the peoples' monetary affairs to their governments.

Centralizd Banking

It was created back in 1609 and thanks to the world's first joint-stock company, the Dutch East India Company (Vereenigde Oostindische Compagnie, or VOC).The VOC was the first example of equity investors providing capital in exchange for a share of ownership in the form of a paper certificate.As the shares increased in value, original investors wanted to realize gains by selling them for cash to new investors, and that is how the first stock market was born.All cashiers were forced to surrender precious metal to the Bank of Amsterdam and were issued BoA deposits in return.

Bank of Amsterdam (BoA)

The Bank of England was created in 1694 with the purpose to purchase new government bonds in an effort to rebuild the country after a crushing defeat of the English navy.It was tasked with taking custody of precious metal, issuing deposits, effecting transfers between depositors, and circulating notes as cash.The Bank of England and the Private Sector (private banks/non-government entities) created the third-layer of money.This third-layer money was issued by Private Sector and its value relied on both BoE Deposits and BoE Notes. Private Sector issued:<ul><li>Deposits</li><li>Bills of Exchange</li></ul>

Bank of England (BoE)

"Gold is money. Everything else is credit."

Shortly after an earthquake in 1906 rocked San Francisco, the US immersed into a financial crisis.Congress passed into law the Federal Reserve System on Decemeber 23, 1913.The Fed was founded to combat financial crises, and it would do this with a second-layer money called reserves.Wholesale money (Fed reserves) is money that banks use, and retail money (Fed notes) is money that people use.

Federal Reserve System

The Federal Reserve Act's stated the following purposes:<ul><li>To provide for the establishment of Federal reserve banks.</li><li>To furnish an elastic currency.</li><li>Means of rediscounting commercial paper.</li><li>To establish a more effective supervision of banking in the US.</li></ul>The Act also decreed that at least 35% of the Fed's assets must be held in gold.

Federal Reserve Act

Franklin Roosevelt issued Executive Order 6102 on April 5, 1933 which instructed all "gold coin, gold bullion, and certificates to be delivered to the government."The order was effectively a forced sale of gold in exchange for Fed notes (cash) by all US citizens and eliminate the people's access to first-layer money.In 1934 the US devaluated the dollar against gold by increasing the gold price from $20.67 to $35 per ounce.The goal was to attract foreign demand by having the cheapest prices.

No Gold for the People

In 1944, world leaders gathered at a hotel in Bretton Woods, New Hampshire and formalized that all currencies besides the dollar were forms of third-layer money within the dollar pyramid.Federal Reserve notes still promised the bearer gold coins on demand at $35 per ounce.Currencies would have fixed exchange rates with the dollar and wouldn't themselves be redeemeble for gold.

Bretton Woods

In 1971, the United States suspended gold convertability for the dollar; the suspension was supposed to be temporary, but the dollar never returned to any linkage with the commodity.Two years later, the modern era of free-floating currencies began, officially ending the Bretton Woods agreement.Gold transitioned to the informal role of neutral money, still held today by governments and central banks around the world as first-layer, counterparty-free money.

Eliminating Gold Convertibility

"Today, our financial system is broken. It works, but the fractures within make it prone to ruptures. It almost collapsed in 2008 and again in 2020. The Federal Reserve has done its job as lender of last resort in each circumstance and kept the financial system alive, but everybody now understands the Fed is the world's only true source of liquidity, and without its support the system couldn't stand on its own."

Bitcoin originated back in 2008, forty-six days after the fall of Lehman Brothers. Its whitepaper was sent to a very small online community called the Cryptography Maling List.The paper was written by Satoshi Nakamoto. The creator remains unknown even now, something that strengthens Bitcoin's neutrality, as no leader exists who wields too much influence, can be coerced or blackmailed, or will try to change Bitcoin's rules.Satoshi would send his last knwon correspondance in April 2011 and disappeared from the Internet forever.

A Renaissance of Money

"A puely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial instituton."

It is a completely revolutionary form of money which is characterized by being:<ul><li>Immutable and Antifragile.</li><li>Secure and Trustless.</li><li>Transparent and Neutral.</li></ul>Bitcoin officially refers to two things:<ol><li>The Bitcoin software protocol.</li><li>The monetary unit within that software.</li></ol>Bitcoin uses the Secure Hash Algorithm 256 (SHA256) as security mechanism.

Defining Bitcoin

BTC is digital gold. It's a form of money. People trust BTC because they believe it to be rare and valuable. It has a price in hundreds of different currencies. It doesn't originate from the balance sheet of a financial institution, just like gold doesn't.BTC is digital land. There are only 57 million square miles of land on Earth. Similarly, there will only be 21 million BTC. This digital land is divisible into the tiniest of parcels.Bitcoin works similarly to email. Email addresses can be shared with anybody, but only the password holder can access received messages.

Bitcoin Analogies

"The steady addition of a constant amount of new coins is analogous to gold miners expending resources to add goldto circulation."

The Bitcoin blockchain most fundamentally describes a record of transactions simultaneously kept by all peers in the network. Blockchain can be understood as a Distributed & Public Ledger.Bitcoin mining is the process of verifying new transactions to the Bitcoin digital currency system, as well as the process by which new bitcoin enter into circulation. For each block successfully mined the winner of the Proof of Work problem of that block gets awarded with 6.25 BTC as an incentive to maintain the blockchain running. This BTC issuance is reduced every 210,000 blocks mined to the half.

Blockchain and Bitcoin Mining

"The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronicaly, but they lend it out in waves of credit bubbles with barely a fraction in reserve."

"Actually there is a very good reason for Bitcoin-backed banks to exist, issuing their own digital cash currency, reedemable for bitcoins. Bitcoin itself cannot scale to have every single financial transaction in the world be broadcast to everyone and inlcuded in the block chain. There needs to be a secondary level of payment systems which is lighter weight and more efficient. Likewise, the time needed for Bitcoin transactions to finalize will be impractical for medium to large value purchases."

"Bitcoin-backed banks will solve these problems. They can work like banks did before nationalization of currency. Different banks can have different policies, some more aggressive, some more conservative. Some would be fractional reserve while others may be 100% Bitcoin backed. Interest rates may vary. Cash from some banks may trade at a discount to that from others.I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash."

The invention of Bitcoin has changed money forever and forced central banks to respond with their own iteration of cryptocurrency.Worldwide, central banks are preparing to launch central bank digital currencies (CBDCs) as another second-layer monetary instrument originating from their balance sheets on par with reserves and paper currency.It's uncertain how CBDCs will be constructed, how similar or different their technology will be to Bitcoin's, or the impact they'll have.

Central Bank Digital Currencies

Understand money history and the layers that conform our monetary system, as well as the revolutionary form of money Bitcoin.

In this fascinating deep dive into the evolution of monetary systems around the globe, Nik Bhatia takes us into the origins of how money has evolved to function in a "layered" manner. Using gold as an example of this term, he traces the layers of this ancient currency from raw mined material, to gold coins, and finally to bank-issued gold certificates. In a groundbreaking manner, Bhatia offers a similar paradigm for the evolution of digital currencies. Bhatia's analysis begins in Renaissance Florence with the gold Florin coin and a burgeoning banking culture, continues with the evolution of central banking, and concludes with a vision for the future of our international monetary system. As central banks around the world prepare to launch their own crypto-competitors, Bhatia illustrates how the invention of Bitcoin created a seismic shift in money and merged the monetary and cryptography sciences. His unique analysis of "layered money" illuminates money markets for the general reader and shows how Bitcoin is becoming a trusted global currency. Readers will come away with an understanding of the mechanics of our financial system, why the dollar is deeply entrenched despite its state of disrepair, and how Central Bank Digital Currencies (CBDCs) and cryptocurrencies will interact in our new monetary future.

Layered Money

“This is a historical lesson of immense significance and should be kept in mind by anyone who thinks his refusal of Bitcoin means he doesn't have to deal with it. History shows it is not​ possible to insulate yourself from the consequences of others holding money that is harder than yours.”

How did it work? It was pretty simple: people just swapped things. It worked fine, except if you didn’t have something your neighbor needed. Once people figured out you could exchange universally valued objects for goods, everything changed.From there, we’ve gone from all kinds of currency to valuable metals, and now paper printed by governments. But since we ditched the “gold standard” of money and started relying only on easily manipulated paper money, we’ve seen a century of boom and bust and increasing debt.

The World Before Money

<ul><li>What makes good currency is that it is salable or easily sold. With the technology of smelting metals, early pre-Christian civilizations could make highly salable coins that were also extremely portable.</li><li>The preferred type of coin was gold.</li><li>When transportation and communications boomed from the 18th to the 20th centuries, nonphysical forms of payment like paper bills and checks became justified. The way they convinced people to trust these pieces of paper was by backing them with gold.</li><li>Britain led the way with this standard to back bills with gold, known as the “gold standard.”</li></ul>

What Makes Good Currency

A good’s salability across time refers to its ability to hold value into the future, allowing the holder to store wealth in it. For a good to be salable across time it has to be immune to deterioration.Similarly, with money, it was inevitable that one, or a few, goods would emerge as the main medium of exchange because the property of being exchanged easily matters the most. A medium of exchange is not acquired for its own properties, but for its salability.Monetary status is a spontaneously emergent product of human action, not a rational product of human design.

Salability

<ul><li>Money has come in all shapes and sizes throughout history, but there’s only ever been one truly sound system: money backed by gold.</li><li>The “gold standard” underwrote an age of prosperity and stability. That all changed in the early 20th century when European governments abandoned gold and fiscal prudence to fund their war efforts.</li><li>The world hasn’t been the same since, and we’ve endured decades of rising debt and boom-and-bust cycles.</li><li>Bitcoin, like gold, it’s a highly effective unit of exchange. But the digital currency will have to overcome some teething problems.</li></ul>

Money Backed By Gold

<ul>
<li>Different currencies were simply different weights of physical gold, and the exchange rate between one nation’s currency and the other was the simple conversion between different weight units, as straightforward as converting inches to centimeters.</li>
<li>In the same way metric and imperial units are just a way to measure the underlying length, national currencies were just a way to measure economic value as represented in the universal store of value, gold.</li>
<li>Each country’s money supply was determined by the natural working of the market system.</li>
</ul>

The Gold Standard

The fatal flaw of the gold standard was that settlement in physical gold was heavy, expensive, and insecure, which meant it had to rely on centralizing physical gold reserves in a few locations—banks and central banks—leaving them vulnerable to being taken over by governments.
Although gold was supposedly demonetized fully in 1971, central banks continued to hold significant gold reserves, and only disposed of them slowly, before returning to buying gold in the last decade.

The Flaw of The Gold Standard

Money whose supply is hard to increase is known as hard money (sound), while easy money is money whose supply is amenable to large increases (unsound).<ul><li>The easy money trap: anything used as a store of value will have its supply increased, and anything whose supply can be easily increased will destroy the wealth of those who used it as a store of value.</li><li>Money that is easy to produce is no money at all, and easy money does not make a society richer; on the contrary, it makes it poorer by placing all its hard‐earned wealth for sale in exchange for something easy to produce.</li></ul>

Hard Money, Easy Money

<ul>
<li>It protects value across time, which gives people a bigger incentive to think of their future, and lowers their time preference (this is what initiates the process of human civilization and allows for humans to cooperate, prosper, and live in peace.)</li>
<li>Sound money allows for trade to be based on a stable unit of measurement, facilitating ever‐larger markets, free from government control and coercion, and with free trade comes peace and prosperity.</li>
<li>A unit of account is essential for all forms of economic calculation and planning, and unsound money makes economic calculation unreliable.</li>
</ul>

The Importance of Sound Money

Time preference for money is an individual's preference for possession of a given amount of money now, rather than the same amount at some future time. The time preference for money is generally expressed by an interest rate. This rate will be positive even in the absence of any risk. The natural implication of this process is to reduce savings and increase borrowing.
Individuals will consume more of their income and borrow more against the future. This will not just have implications on their time preference in financial decisions; it will likely reflect on everything in their lives.

Time Preferences of Money

The 20 century’s binge on conspicuous consumption cannot be understood separately from the destruction of sound money and the outbreak of vilifying savings and deifying consumption as the key to economic prosperity.<ul><li>The reduced incentive to save is mirrored with an increased incentive to spend, and with interest rates regularly manipulated downwards and banks able to issue more credit than ever, lending stopped being restricted to investment but has moved on to consumption.</li><li>Credit cards and consumer loans allow individuals to borrow for the sake of consumption without even the pretense of perf<warningtag>orming investment in the future.</warningtag></li></ul>

Consumption Is Key

After the First World War, financial deficits forced European powers to drop the gold standard. They introduced fiat money, which was backed by decree instead of gold. This switch led to an age of unsound money where governments could intervene in the economy to stabilize the value of their currencies. 
Unsound money causes a myriad of problems, like recessions and debt. Interventions of governments distort markets and cause boom and bust cycles. The only solution would be to establish a new gold standard. This is where Bitcoin comes in.

The New Gold Standard

... because it is scarce, secure, and unique.
<ul>
<li>Bitcoin has a fixed supply— there will never be more than 21 million in existence. </li>
<li>They also have a stable supply because, like gold, bitcoins are mined.</li>
<li>Bitcoins are the only good defined by absolute scarcity, which makes them immune to manipulation. </li>
<li>It’s also incredibly secure. The public ledger, known as the blockchain, keeps a record of all recent transactions. Everyone can see it, and it is backed by every computer on the network, making it near-impossible to manipulate.</li>
<li>The best part is you don’t even need a central authority to oversee it.</li>
</ul>

Bitcoin Could Replace Money As We Know It

<ul>
<li>Bitcoin can thus be understood as a technology that converts electricity to truthful records through the expenditure of processing power. </li>
<li>Those who expend this electricity are rewarded with the bitcoin currency, and so they have a strong incentive to maintain its integrity. As a result of attaching a strong economic incentive for honesty, Bitcoin’s ledger has been practically incorruptible for the period of its operation so far.</li>
<li>By relying entirely on verification, Bitcoin dooms fraudulent transactions to failure and obviates the need for trust in anyone for transactions to be completed.</li>
</ul>

Verification > Trust

Bitcoin can be seen as the new emerging reserve currency for online transactions, where the online equivalent of banks will issue Bitcoin-backed tokens to users while keeping their hoard of Bitcoins in cold storage, with each individual being able to audit in real time the holdings of the intermediary, and with online verification and reputation systems able to verify that no inflation is taking place.This would allow an infinite number of transactions to be carried out online without having to pay the high transaction fees for on-chain transactions.

Bitcoin As a Reserve Currency

We know it is incredibly promising, but of course, there are challenges.
<ol>
<li>One of these is price volatility. This volatility is mostly due to demand, and because it’s so new, demand is highly variable. People wonder how it can be reliable if it fluctuates.</li>
<li>Bitcoin needs to grow. But eventually, Bitcoin would need to rely on centralized institutions to continue growing. Unfortunately, there doesn’t seem to be a viable way around this: the more transactions that happen, the more copies of the ledger need updating. All of this requires higher transaction fees and more processing power.</li>
</ol>

Bitcoin: The Challenges

A deep dive into the role money has played across history and how Bitcoin fits in.

A comprehensive and authoritative exploration of Bitcoin and its place in monetary history When a pseudonymous programmer introduced “a new electronic cash system that’s fully peer-to-peer, with no trusted third party” to a small online mailing list in 2008, very few people paid attention. Ten years later, and against all odds, this upstart autonomous decentralized software offers an unstoppable and globally accessible hard money alternative to modern central banks. The Bitcoin Standard analyzes the historical context to the rise of Bitcoin, the economic properties that have allowed it to grow quickly, and its likely economic, political, and social implications. While Bitcoin is an invention of the digital age, the problem it purports to solve is as old as human society itself: transferring value across time and space. Author Saifedean Ammous takes the reader on an engaging journey through the history of technologies performing the functions of money, from primitive systems of trading limestones and seashells, to metals, coins, the gold standard, and modern government debt. Exploring what gave these technologies their monetary role, and how most lost it, provides the reader with a good idea of what makes for sound money, and sets the stage for an economic discussion of its consequences for individual and societal future-orientation, capital accumulation, trade, peace, culture, and art. Compellingly, Ammous shows that it is no coincidence that the loftiest achievements of humanity have come in societies enjoying the benefits of sound monetary regimes, nor is it coincidental that monetary collapse has usually accompanied civilizational collapse. With this background in place, the book moves on to explain the operation of Bitcoin in a functional and intuitive way. Bitcoin is a decentralized, distributed piece of software that converts electricity and processing power into indisputably accurate records, thus allowing its users to utilize the Internet to perform the traditional functions of money without having to rely on, or trust, any authorities or infrastructure in the physical world. Bitcoin is thus best understood as the first successfully implemented form of digital cash and digital hard money. With an automated and perfectly predictable monetary policy, and the ability to perform final settlement of large sums across the world in a matter of minutes, Bitcoin’s real competitive edge might just be as a store of value and network for the final settlement of large payments―a digital form of gold with a built-in settlement infrastructure. Ammous’ firm grasp of the technological possibilities as well as the historical realities of monetary evolution provides for a fascinating exploration of the ramifications of voluntary free market money. As it challenges the most sacred of government monopolies, Bitcoin shifts the pendulum of sovereignty away from governments in favor of individuals, offering us the tantalizing possibility of a world where money is fully extricated from politics and unrestrained by borders. The final chapter of the book explores some of the most common questions surrounding Bitcoin: Is Bitcoin mining a waste of energy? Is Bitcoin for criminals? Who controls Bitcoin, and can they change it if they please? How can Bitcoin be killed? And what to make of all the thousands of Bitcoin knockoffs, and the many supposed applications of Bitcoin’s ‘block chain technology’? The Bitcoin Standard is the essential resource for a clear understanding of the rise of the Internet’s decentralized, apolitical, free-market alternative to national central banks.

Stashed ideas

The Bitcoin Standard

There is a complete loss of confidence in the space. Bitcoin and other cryptos are plunging, and companies such as Coinbase are announcing layoffs. However, cryptos are falling sharply because they are being hit by the same factors impacting stocks and other assets. Consumer prices are surging, and the Federal Reserve is hiking interest rates to bring down inflation.

The cryptocurrency world is in chaos

Since Bitcoin hit an all-time high in November, the value of the world's most popular digital currency has fallen by about 70%, Ether is down by around 70% this year, and so is Dogecoin. Bitcoin's backers have always claimed the digital currency would be an "inflation hedge," but it hasn't behaved that way. Instead, this crash in crypto prices shows that cryptocurrencies are primarily speculative financial assets subject to macroeconomic forces.

Cryptocurrencies are by and large speculative financial assets

It's been a rude awakening for the millions of people who bought cryptocurrencies. 2021 was the height of digital currencies, which swelled to $3 trillion. Today, the total value of the crypto market has been shaved to about $1 trillion. Some backers of cryptocurrencies still believe a "crypto winter" could lead to a "crypto spring." In the past, deep downturns have led to strong rebounds.

What is means for those who got into cryptos

The increase in amateur investors, combined with the growing complexity of some of the cryptocurrency products, are worrying regulators as they want to prevent people from being taken advantage of. Crypto markets are still fairly new and there is no clarity on who is in charge of overseeing the space. At the moment, both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) claim oversight of parts of the crypto market.

Regulations on the sector

Bitcoin and other cryptocurrencies are plunging. Here's what to know about a market that just a few months ago was being touted as the future of finance.

Why cryptocurrencies have gone from the next hot thing to a full-on meltdown

Morality emerges out of iterative voluntary games. What we regard as moral is the principle that most aptly governs the longest game.It's an idea Peterson borrowed from Jean Piaget, a Swiss psychologist. Piaget focused on kids as ways to understand humanity at large. He believed that the act of voluntary play in kids is the precursor to ethical societies. The games are thus micro-cosmoses of society and as we grow up we are just extending the game into adulthood.

Morality emerges from play

If you think life is not a game, then you are not playing it properly.

If 2 groups are playing a game: one group playing the game voluntarily and another one forced to do so .... The voluntary group will always outperform the other. Fiat, ruling through power, is demonstrably a sub-optimal strategy compared to freedom. This idea has implications in:<ul><li>economy: a regulated economy will be outperformed by a free economy</li><li>management: unrestrained teams are doing better than micro-managed ones </li><li>etc ....</li></ul>

Voluntary Games vs Fiat

Alan Watts used to say life is a dance, not a journey. The eastern tradition has identified play as a the natural state for peace. Interesting how a psychological analysis can come up with similar findings. 

Dr. Jordan B. Peterson joins for me a special edition episode exploring the philosophic implications of Bitcoin as an incorruptible system of value. This episode was recorded in front a live studio audience on April 8th, 2022 during the Bitcoin 2022 Conference in Miami, FL. Be sure to check out Swan Private, your dedicated partner in developing and executing a Bitcoin strategy: https://www.swanbitcoin.com/private/ GUEST Dr. Peterson's Twitter: https://twitter.com/jordanbpeterson Dr. Peterson's YouTube: https://www.youtube.com/channel/UCL_f53ZEJxp8TtlOkHwMV9Q Dr. Peterson's LinkTree: https://linktr.ee/DrJordanBPeterson PODCAST Podcast Website: https://whatismoneypodcast.com/ Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400 Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1 RSS Feed: https://feeds.simplecast.com/MLdpYXYI Transcript: OUTLINE 00:00:00 “What is Money?” Intro 00:00:08 Intro by John Vallis 00:04:38 Standup Comedy Opening by JP Sears 00:27:22 Show Intro by Robert Breedlove 00:31:52 Welcoming Jordan Peterson 00:32:39 The Concept of Fiat and the Ethical Optimality of Voluntary Games 00:43:57 Voluntary Games Optimize the Genuine Motivation of Positive Emotion 00:45:03 Fiat Currency as an Involuntary Game and its Psychological Implications 00:48:10 What Justification is there for Use of Force or Fiat? 00:52:32 “Whenever You’re Doing a Thing You Want, You’re Playing.” 00:55:50 Defining Truth (and its Antagonism to Fiat) 01:00:43 The Spirit of Truth, the Process of Inquiry, and Freedom of Speech 01:04:11 Free Speech is How Humans Contend with an Incomputable Future 01:07:11 How an Incorruptible Money Could Impact the Free Market Process 01:11:44 How The Free Market Enhances Our Relationship with Value 01:13:39 Inflation Penalizes Prudence and, In Doing So, Destroys Civilization 01:16:58 Giving Gratitude to our Sponsors 01:29:40 Controlling Speech and Money as Unerring Hallmarks of Totalitarianism 01:35:04 The Costliness of Signaling and the Sanity of Communication 01:39:18 “The Monetary Standard and Moral Standard are Inexorably Linked” 01:45:09 What are the Unexpected Consequences of Bitcoin? 01:49:00 Systemized Violations of Property and the Inducement of Irresponsibility 01:53:51 Bitcoin and The Philosopher’s Stone 02:00:15 Money is a Promise: A Contract with the Future 02:03:44 The Impact of Technological Innovation on Trust in Society 02:07:02 Christ and the Value of Absolute Truthfulness 02:10:56 The Personal Transformations Occurring in the Lives of Bitcoiners 02:13:05 Bitcoin as a Means of Detaching Exploitation From Economic Success 02:17:03 “What is Money?” Outro SOCIAL Breedlove Twitter: https://twitter.com/Breedlove22 WiM? Twitter: https://twitter.com/WhatisMoneyShow LinkedIn: https://www.linkedin.com/in/breedlove22/ Instagram: https://www.instagram.com/breedlove_22/ TikTok: https://www.tiktok.com/@breedlove22?lang=en All My Current Work: https://linktr.ee/breedlove22 WRITTEN WORK Medium: https://breedlove22.medium.com/ Substack: https://breedlove22.substack.com/ WAYS TO CONTRIBUTE Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7 Sats via Strike: https://strike.me/breedlove22 Sats via Tippin.me: https://tippin.me/@Breedlove22 Dollars via Paypal: https://www.paypal.com/paypalme/RBreedlove Dollars via Venmo: https://venmo.com/code?user_id=1784359925317632528 The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101&fan_landing=true RECOMMENDED BUSINESSES Off the Chain Capital is the best performing value investment fund over the past 5 years: https://offthechain.capital/ Iris Energy is focused on building mining Bitcoin operations with sustainable energy: https://irisenergy.co/ Swan Private guides high-net-worth individuals and businesses in all areas of Bitcoin strategy: https://www.swanbitcoin.com/private/ Noah is the mobile money app of the future—the all-in-one money app for everyone, everywhere: https://noah.com/?referral=iseqvom&refSource=copy Okcoin is an innovative and education-focused cryptoasset exchange platform—earn $50 in free Bitcoin by signing up at: okcoin.com/breedlove Join Me At Bitcoin 2023, pre-order your tickets now (discount code BREEDLOVE): https://b.tc/conference/2023 Looking Glass is a free, all-in-one educational platform built with the intention of empowering individuals to take control of their financial future: http://www.lookingglasseducaation.com/ Trammell Venture Partners (TVP) is a venture capital firm that launched the industry's first institutional venture fund series focused on Bitcoin startups: https://tvp.fund/

Interesting Philosophy

Jordan Peterson with Robert Breedlove discussing fiat & bitcoin

<ul><li>Most big cities in the United States have a few of these Bitcoin machines</li><li>Identify yourself with a phone number and a Bitcoin wallet</li><li>You will be texted a code so you can move forward</li><li>Once you have put money into the machine, it will ask for the address of where you want it sent</li></ul>

How to Use a Bitcoin ATM

This is a way to get involved without having to risk identity theft by providing so much documentation to relatively new entities like Coinbase and BinanceThe Bitcoin ATM means you can put a little money in overtime, but stay away from identity risks exchanges representDo your own thorough research before making any investment decisions.

Why use one?

It is a legitimate question, Why use a Bitcoin ATM anyway? The fees seem higher than on the exchanges. One reason is privacy

Layered Money

The Bitcoin Standard

Why cryptocurrencies have gone from the next hot thing to a full-on meltdown

Jordan Peterson with Robert Breedlove discussing fiat & bitcoin

Why Use a Bitcoin ATM?

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