Raoul Pal Bitcoin – This Is The Best New Opportunity! (With Lyn Alden)
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In this video, Raoul Pal and Lyn Alden discuss Bitcoin as a solution to the global financial and monetary system. They also compare Bitcoin to gold as a store of value. Here is the summary of the interview:
If we think about Bitcoin as a store of value, we’ll have the gold standard.
Everything changed in 2008 when we shifted from a strategy of using interest rates to using monetary printing, also known as quantitative easing, to drive the monetary policy across the world. That, in essence, created an excess supply of capital money. Then, Bitcoin came out exactly that moment to let us know that what we need is something that holds value over time and is predictable in its strategy of supply. And digitally, this is a new world because it is distributed. And all of the security that comes with that just didn’t exist before.
Note that there’s always a nefarious player. It may be the government that clips the edge of gold or coins. It may also be a central bank that increases the amount of money in supply. So, Bitcoin seems to be an extraordinarily good solution to the challenges in the financial system.
Both gold and Bitcoin have their roles to play in a portfolio. They have different strengths and weaknesses. But Bitcoin has more real-world use cases because, unlike gold, Bitcoin can be continuously updated and built upon with extra layers. For example, we’re witnessing the lightning layer starting to hit critical mass. We also have the second layer protocol to enable you to do cheap and nearly instantaneous transactions. So, all these are works in progress.
Bitcoin white paper came out in 2015, while some set of specifications came out in 2016 to make different companies’ interpretations of lightning interoperable. Then, another update came in 2017 that allows lightning to start building on top of Bitcoin.
As developers build out those tools, the use case of Bitcoin expands. Overall, since 2018, Bitcoin has become a credible macro-asset and has reached a large market capitalization. So, Bitcoin has a strong network effect because it is credible and difficult to change. It also has an underlying protocol and monetary policy. You can also build other things on top of it.
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Welcome to “Savvy Finance 🤝
This channel is all about being savvy with your finance 💰.
We create and share videos about investments and how best you can put your money to use, in order to bring in more money. We love cryptocurrencies and the stock market and so, we share a lot of crypto and stock market videos,, including bitcoin, ethereum, Cardano ADA, and other altcoins. 🗠
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