Critiquing Bitcoin with Frances Coppola & Nic Carter

 
 
WBD299 - Frances Coppola & Nic Carter - Large Banner.png

Where to find the show

Download Episode MP3 File
The file will open in a new window. Click down arrow to download the file.

“What I am objecting to is this kind of position that says it is morally good, and state money is morally bad… money is neutral, money is just a thing there is no morality in money.”
— Frances Coppola

SHOW DESCRIPTION

Location: Remotely
Date: Wednesday 13th January
Company: Independent & Castle Island Ventures
Role: Author & Partner

Bitcoin adoption is maturing, and veteran traders such as Stan Druckenmiller and Paul Tudor Jones, companies like Microstrategy and institutions like Grayscale and Skybridge have all made moves solidifying its reputation and profile. However, it is still not without its detractors.

Arguments regarding scalability, how a deflationary system works and fears of money without government backing are topics of regular discussion. One critic who is quick to highlight Bitcoin’s perceived shortcomings is Frances Coppola, and last week on Twitter, Frances caused a stir with comments about the scarcity of bitcoin.

In this episode, I moderate a debate between Frances, an economist and financial author, and Nic Carter, a Partner at Castle Island Ventures, to discuss some of Bitcoin's most fundamental questions.

TIMESTAMPS

00:05:09: Introductions
00:06:19: Frances' initial Bitcoin stance
00:07:57: Nic's initial Bitcoin stance
00:09:00: The morality of Bitcoin
00:16:51: Frances' main arguments against Bitcoin
00:20:36: Bitcoin as a medium of exchange
00:26:28: The issue of inequality
00:31:22: The petrodollar system
00:34:28: The scaling problem
00:39:33: Bitcoin as an international reserve asset
00:43:57: Views on hyperbitcoinisation
00:53:28: The basic banking model
00:57:21: The 2008 Financial Crisis and shadow banks
00:58:20: Jurisdictional regulations governing banks
01:01:46: Equating exchanges to shadow banks
01:04:26: The auditability of Bitcoin
01:05:59: FDIC insurance
01:08:56: Self-custody vs liquidity
01:12:20: Cash vs CBDCs
01:14:30: Bitcoin scarcity
01:20:24: Pizza!
01:21:18: Subdivision increases demand
01:33:29: Final comments

 

SUPPORT THE SHOW

If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:

If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

SPONSORS

 
 
 
 
 

SHOW NOTES

PodcastPeter McCormack