Perspective on Banks and Bitcoin from Norway – Part 1/2

Introduction (0:00 to 58:00)

  • Welcome message
  • Acknowledgements
  • Episode Inspiration

What is Money vs. Currency: (0:59 to 6:06)

  • Personal Definition – a medium in which to store work or time.
  • Technical Definitions

Reference: Hidden Secrets of Money by Mike Maloney

  • The state and origins of paper currency.

Image result for $20 gold certificate

Currency at one time was a voucher for gold that you could redeem at the nearest bank.

What is inflation? (6:07 – 11:05)

  • The academic explanation (Refer to Peter Schiff and the Austrian School of Economics).
  • My view on inflation:
  • In 1865 Slavery never ended, it only changed form to include everyone.
  • Transitioned from an ownership model to a pay per use one, like Uber is doing with cars., removing the ownership headaches.
  • Governments, Central Banks, and Billionaires have a lot of time to think.

What is a Bank? (11:06 – 14:57)

  • Definition
  • Consequences on the meaning in light of negative rates and digital currency.
  • Evolution from Savings & Loan to Bailout & Con
  • Dividend stocks alternative.

Bitcoin (14:58 – 22:36)

  • What is it?
  • Analogies to social media & music mediums
  • Origins, appearing during the 2009 financial crisis
  • Benefits of Bitcoin

Even the largest bank in Norway, the most digital country in the world, has problems staying online.

  • Bitcoin Bottlenecks & Weaknesses
    • Wallets
    • Repositories
    • The analogy between Bitcoin and Wallets vs. Gold and Vaults.
    • Most notable weakness – dependence on manmade infrastructure.


Part 2 Next Thursday


Bitcoin Heists

Banks Pay Hacker Ransom in Bitcoins

Different Types of Bitcoins

China and Bitcoin

Is China Gaming Bitcoin? | China Uncensored

Modern Slavery

USA Today: Rigged – Forced into debt. Worked past exhaustion. Left with Nothing.

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