Bitcoin v The Banks with Simon Dixon & Bill Barhydt
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SHOW DESCRIPTION
Location: Remotely
Date: Tuesday 13th April
Company: BankToTheFuture, Abra
Role: Co-Founder, CEO
The banking system is a regulated Ponzi scheme driven by leverage and debt with onerous rules and powerful gatekeepers. When you are in the system, you are a slave to it, and worse still, the banks can freeze your payments and shut down your accounts.
Simon Dixon envisions a future where we aren’t beholden to deputized authoritarian institutions to move and store our money; he thinks we can achieve it by plugging decentralized and centralized systems together. And Bill Barhydt is helping build that future.
While Bitcoin is a savings based economy that may help rid us from a world drowning in debt, there are still questions about how people with one foot in the old system, and another foot in the future, will make the transition while maintaining their privacy. While many promising solutions are in development, it’s not clear exactly how we will be borrowing, transacting, and securing our wealth.
In this interview, I talk to Simon Dixon, the Co-Founder of BankToTheFuture and Abra CEO Bill Barhydt. We discuss the legacy banking system, the fight for privacy, and the future of banking in a bitcoin world.
TIMESTAMPS
00:05:07: Introductions
00:05:28: Peter's banking issue
00:07:07: Simon's background
00:10:47: Abra's services
00:14:39: Banks are the new Blockbusters
00:17:13: UK banks and crypto
00:22:08: Operation Chokepoint
00:25:23: Fractional-reserve banking
00:30:42: Suspicious Activity Reports
00:33:42: The whole issue of fungibility
00:52:29: Visa's role in crypto banking
00:55:09: Bitcoin still requires a scalable Layer 2
00:57:52: Crypto-friendly banks
00:59:40: The big tax issue
01:03:28: Are we heading for a massive wealth redistribution?
01:09:55: Death by 1,000 cuts
01:12:32: The plumber keeps missing it!
01:15:46: Dollar cost averaging
01:19:21: Final comments
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SHOW NOTES
Connect with Simon:
On Twitter
Connect with Bill:
Mentioned in the interview:
Bank to the Future: Protect Your Future Before Governments Go Bust by Simon Dixon
HSBC confirms banning customers from buying MicroStrategy shares due to bitcoin concerns
CoinJoin: Combining Bitcoin Transactions To Obfuscate Trails And Increase Privacy
How Bitcoin Extension Blocks Are Backward Compatible — and How They’re Not
Other Relevant WBD episodes:
WBD279: The Institutional Case for Bitcoin with Dan Morehead and Mike Novogratz
WBD257: Bitcoin Has Entered Phase 5 with PlanB, Jeff Booth & Preston Pysh
WBD227: Debunking Goldman Sachs Bitcoin Thesis with Bill Barhydt
WBD183: Beginner’s Guide #2: What Is Money with Parker Lewis
WBD130: Bitcoin is More Than a Financial System with Zac Prince & Jeremy Welch
WBD073: Bill Barhydt on How ABRA Is Building a Global Bank With Bitcoin
WBD032: Tuur Demeester on the Looming Debt Crisis and Central Banks for Bitcoin