SHOW NOTES:
https://www.whatbitcoindid.com/podcast/the-future-of-bitcoin-banking
Bill Barhydt is the CEO and Founder of Abra. In this interview, we discuss institutional investment...
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SHOW NOTES:
https://www.whatbitcoindid.com/podcast/the-future-of-bitcoin-banking
Bill Barhydt is the CEO and Founder of Abra. In this interview, we discuss institutional investment, the long term debt cycle, the end of fractional reserve banking and how Bill gave away thousands of Bitcoin.
THIS EPISODE’S SPONSORS:
Gemini - https://www.gemini.com/
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Compass Mining - https://compassmining.io/
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LVL - https://www.lvl.co/wbd
TIMESTAMPS:
00:00:00 Introduction
00:01:24 Bitcoin institutional valuations
00:14:14 Bitcoin as collateral
00:24:37 Turning off your bank
00:32:24 Debt cycle ending, effects of Bitcoin
00:40:46 Bitcoin Reserve Banking & dollar thesis
00:52:26 Hayekian distribution of Bitcoin
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****
“All those bankers we just talked about would laugh at this conversation because they would say, ‘what the fuck are you talking about? Bitcoin standard? Bitcoin is a joke.’… It’s like buying Facebook stock 15 years ago, you know, it’s going up in price. ‘I’m going to make some money. What are you guys talking about, Bitcoin banking?’”
— Bill Barhydt
Bill Barhydt is the CEO and Founder of Abra. In this interview, we discuss institutional investment, the long term debt cycle, the end of fractional reserve banking and how Bill gave away thousands of Bitcoin.
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The current banking system is broken. Millions of people around the world still don't have access to proper banking services, the payment rails that facilitate transactions are old and costly, and trust in financial institutions is low.
To add to this, currencies around the world are being debased at a rapid pace. Over the last few years, central banks have printed huge amounts of money that is now showing up in inflation, which has a disproportionate impact on the poorest in society. 50% of Americans now have more credit card debt than savings.
Bitcoin started as a cypherpunk experiment, but its sound monetary properties have led to it becoming a real lifeboat for those who are economically adrift. With the banks losing momentum, is Bitcoin mature enough to take up the slack?
However, you see the future of money and banking - one thing is clear Bitcoin will play a role. The question is, how big will that role be?
