Tonight Bob Van Valzah dropped in for a long session on Bitcoin & Digital Currencies which turned into the second half of a six-part series on Digital Currencies.

This episode covers:

• A quick review of Blockchain technology.
• What is a fiat currency?
• How do cryptocurrencies differ from traditional currencies?
• Money as a store of value.
• Commodity money, where a currency is backed by, and can be traded for the precious metal.
• How fiat money derives its value.
• How governments manipulate the money supply to meet their own needs.
• We discussed the failings of the paper-based fiat currencies.
• How credit cards overcome some of these issues.
• The advantages of cryptocurrencies over paper-based fiat currencies.
• Physical Bitcoins produced as a stunt, and the issues with them.
• Using Bitcoin as a way to move money easily across borders.
• Advantages of bitcoin mining rate, as a counter to inflation and currency manipulation.
• Four-year correction in Bitcoin production, with rate halving, 16M today with 21M by 2040.
• How Bitcoins are divisible into 100M pieces, called Satoshis.

More to come in part 5…

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