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Bitcoin, the Ultimate Reserve Asset with Jeff Ross

Peter McCormack

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Bitcoin, the Ultimate Reserve Asset with Jeff Ross - WBD688 Peter McCormack

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Jeff Ross is the Founder & CEO of Vailshire Capital Management. In this interview, we discuss Jeff’s twin expertise in finance and medicine, the impact of AI, and the importance of personal responsibility. We also talk about the state of the global economy, liquidity in the Bitcoin market, the benefits of the state having Bitcoin as a reserve asset, and the changing narrative around Bitcoin.

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One of the powerful libertarian ideas aligned with Bitcoin is personal sovereignty: the rights of the individual including the protection of property rights. Advocates of this belief espouse it has a vital corollary where sovereign individuals also accept personal responsibility, in showing agency to better themselves and being accountable for their actions.

In modern society, there does seem to be an increasing problem of people relinquishing themselves of such responsibility, manifested in poor financial and health choices. Whilst it is true that a significant number of citizens can find themselves facing difficult life choices through no fault of their own, there equally needs to be an acceptance that too many are willing to throw caution to the wind and the states can’t be expected to automatically pick up the pieces.

The problem for society today is that the state could quite quickly become unable to provide the support citizens have until now taken for granted. Governments are struggling to manage their debt obligations with rampant inflation leading to rising interest rates. At the same time, we are in the midst of a global manufacturing crisis.

One strategy Jeff Ross thinks governments could apply is the adoption of Bitcoin as a reserve asset. This could both strengthen economies, whilst also creating an honest unit of account. It is a rare option that provides a potential path to growth, the reduction of debt and protects future generations. But, such a transition is far from certain. Those unprepared therefore face significant risks. If governments can’t be responsible, then it’s the role of the individual to protect themselves.

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00:01:27: Introductions
00:03:42: Jeff's background
00:12:05: AI in medicine, and self-drive vehicles
00:19:25: Broken institutions
00:31:05: Failings in UK and US healthcare
00:48:12: A Bitcoin lens on healthcare
00:57:03: Jeff's Bitcoin origin story
01:06:04: Bitcoin investments, and a macro view
01:27:32: Bitcoin is the alternative, and BlackRock changing the narrative
01:38:24: Final comments

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