Click to download audio version Date: Monday 4th May Project: Parallax Digital
Role: Founder & CEO The properties for measuring the soundness of money include
divisibility, durability, portability, recognizability and scarcity. Current
government-issued and controlled fiat money fit some of these characteristics
but, with the central bank’s ability to print money at will, the current system
completely fails as a scarce resource. Historically metals have been the best
form of money, with gold outcompeting all other metals to become the number one
metal used as a currency and store of value. It is durable, recognisable and
scarce; however, government-issued fiat became a better form of cash as it is
more portable and divisible. Since 1971, when the US came off the gold standard,
and the government has been able to issue more fiat, the purchasing power of the
dollar has fallen. As such, gold has proven to be a better store of wealth than
fiat. Many see Bitcoin as digital gold with the added benefits of being highly
divisible and able to be sent anywhere in the world quickly and at low cost.
Bitcoin also offers censorship resistance, immutability and the ability to store
wealth out of the reach of the government. Bitcoin is a new paradigm in money.
In this interview, I talk to Robert Breedlove the Founder and CEO of Parallax
Digital. Robert recently wrote An Open Letter to Ray Dalio explaining how
Bitcoin will reshape the world. We discuss Bitcoin’s ability to outcompete the
current financial system.
Role: Founder & CEO The properties for measuring the soundness of money include
divisibility, durability, portability, recognizability and scarcity. Current
government-issued and controlled fiat money fit some of these characteristics
but, with the central bank’s ability to print money at will, the current system
completely fails as a scarce resource. Historically metals have been the best
form of money, with gold outcompeting all other metals to become the number one
metal used as a currency and store of value. It is durable, recognisable and
scarce; however, government-issued fiat became a better form of cash as it is
more portable and divisible. Since 1971, when the US came off the gold standard,
and the government has been able to issue more fiat, the purchasing power of the
dollar has fallen. As such, gold has proven to be a better store of wealth than
fiat. Many see Bitcoin as digital gold with the added benefits of being highly
divisible and able to be sent anywhere in the world quickly and at low cost.
Bitcoin also offers censorship resistance, immutability and the ability to store
wealth out of the reach of the government. Bitcoin is a new paradigm in money.
In this interview, I talk to Robert Breedlove the Founder and CEO of Parallax
Digital. Robert recently wrote An Open Letter to Ray Dalio explaining how
Bitcoin will reshape the world. We discuss Bitcoin’s ability to outcompete the
current financial system.
