Speaking Of Crypto

Sunny Ray really started thinking about money, what it is and where it comes from, back before bitcoin cost a little more than a couple of lattes. Since then, he’s seen bitcoin sky rocket to over 2000 times that price and explains why he thinks it has long term value, as digital gold. What’s fascinating about the rationale behind his explanation is that that it’s based on two theories of economics and how our society values, prints and uses money. Sunny gives us a beginner’s look into the philosophy of bitcoin compared to that of fiat money by explaining that with our current system is based on Keynesian Economics where more money is printed every year. And this is very different from bitcoin, which is based on Austrian Economics, where one of the foundational elements of the value of bitcoin as a currency, is its scarcity or the fact that it has a limited supply. And if anyone wants to go deeper, I’ve got more info in the show notes page on the Speaking of Crypto website. And that’s just one aspect of why bi