Interview | Description | Timestamps | Show Notes

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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?

00:04:03: Introductions
00:05:24: Institutional adoption
00:09:10: The macro economy effect on Bitcoin
00:13:32: Bitcoin-centric thinking and the future of banking
00:17:31: Bitcoin as collateral, and Abra's primary mortgage business
00:29:57: The future evolution of banking
00:41:07: Debt cycles and the inevitability of war
00:49:35: Financial services evolving at Abra
00:53:20: The role of the dollar, and reserve banking
01:00:24: Hayekian distribution of Bitcoin
01:07:25: Final comments

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Mentioned in the interview:

• Yes, BitMEX Liquidations Caused Bitcoin Price to Crash; Here’s How, Bitcoinist, 2019

• @saylor, Dec 2021 - “Under the laws of most countries (including the US), #bitcoin is property, not currency. As such, it is not a threat to the dollar, but rather the most valuable form of property humanity has yet invented, making it a threat to gold, land, stocks, bonds, & other stores of value.”

• “It is agreed that hoarding money, whether in cash or in idle balances, is deflationary in its effects.” - Friedrich A. Hayek

• Alex Jones Says He Lost Laptop Containing 10,000 Bitcoins

• The Invisible Cost Of War In The Age Of Quantitative Easing, Alex Gladstein, Bitcoin Magazine

• Principles for Dealing with the Changing World Order: Why Nations Succeed or Fail - Ray Dalio

• Metcalfe's law - Wikipedia

• Caitlin Long's Wyoming Crypto Bank Takes a Step Toward Fed Membership

• The Fiat Standard: The Debt Slavery Alternative to Human Civilization Hardcover – Saifedean Ammous

Other Relevant WBD Podcasts:

• WBD468: The Economics of War with Alex Gladstein

• WBD462: Will Bitcoin End Central Banking? with Eric Yakes

• WBD454: The Breakdown of Trust with Balaji Srinivasan & Glenn Greenwald

• WBD449: Chaos in the Bond Market with Greg Foss & Lawrence Lepard

• WBD445: Do We Really Understand Inflation? with Cullen Roche

• WBD443: Bitcoin & the Currency Wars with Lyn Alden

• WBD438: Separation of Money & State with Matt Stoller & Peter Van Valkenburgh

• WBD431: Bitcoin is Digital Energy with Michael Saylor

• WBD418: Fix the Money Fix The World with Lawrence Lepard

• WBD416: Is Hyperinflation Coming? with Lyn Alden

• WBD409: Bitcoin and the U.S. Fiscal Reckoning with Avik Roy

• WBD397: The Financial Reset with John Mauldin

• WBD374: Debt Cycles & the Rise of Bitcoin with Greg Foss & Dylan LeClair

• WBD323: Bitcoin Borrowing & Lending Markets with Zac Prince

• WBD312: $50k Bitcoin, What’s Next? With Bill Barhydt

• WBD227: Debunking Goldman Sachs Bitcoin Thesis with Bill Barhydt

• WBD073: Bill Barhydt on How ABRA Is Building a Global Bank With Bitcoin