Podcast 16 The technology of money and why Bitcoin is the best we will ever have

Randall van Poelvoorde on Tech & Robots

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Today, I want to discuss money with you. It is good to realize that money is a form of technology. A technology we use to trade instead of bartering. A technology we use to store value and to compare things, because a strawberry generally costs less than a new car.

This technology has taken on various forms over time. Long ago, you could pay with beautiful shells or other natural items. But soon we transitioned to using scarce materials. Bronze, gold, and silver proved to work well for transactions and storing value. As long as everyone agrees that it has value, it can be used as money, and scarcity helps. Until a few decades ago, many national currencies were still linked to gold. This meant that for every thousand euros or dollars put into circulation, an equivalent amount of value in gold had to be kept in a vault. Many people still think this is the case. If only it were.
Unfortunately, the value of money is no longer determined by supply and demand. Governments can simply print more money. They do this by issuing government bonds, for which buyers receive interest. If you think about it, this essentially means that the government borrows from future generations. That's why all governments have enormous debts. The only underlying value is actually the trust that the government will be able to repay the money and pay the interest. You can wonder if this will always go well. For example, it won't be long before the U.S. national debt is so large that the interest payments alone are as large as the annual defense budget. Shouldn't there be a better monetary system? I think there is, and that system is called Bitcoin. I want to explain below why I believe Bitcoin is much better than government-issued money.

Ik nodig je van harte uit om regelmatig naar mijn podcast te luisteren. We zullen het hebben over fascinerende technologieën en uitvindingen. We bespreken de problemen en de kansen. We zullen ons samen afvragen hoe de wereld eruit zou kunnen zien. Ik beloof je dat het een spannende, leuke en optimistische reis zal worden. Een reis vol robots, kunstmatige intelligentie, zelfrijdende auto's en duurzame energie. Een reis vol vragen en antwoorden. Een reis vol verwondering en verbazing. Maar ook een reis met veel herkenning. Ik ga deze afleveringen met groot plezier maken en kijk ernaar uit om jouw reacties te horen.

Ik zou het zeer waarderen als je je abonneert op deze show! Wil je mij boeken voor een keynote speech of een workshop, neem dan contact op via de onderstaande gegevens of Google mijn naam, Randall van Poelvoorde.

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