Bitcoin's True Potential: Why It's Not Money Yet!

In this conversation, Pascal Hugli and Hubertus Hofkirchner discuss the current state of Bitcoin as a monetary system, emphasizing that while Bitcoin has potential as base money, it lacks the necessary credit layer to function effectively in the real economy. He explores the historical context of money, the importance of elasticity in monetary systems, and the role of credit money. Hofkirchner introduces the BitCredit protocol, which aims to create a decentralized credit system using e-bills and Wildcat mints, while also addressing the need for non-custodial e-cash solutions. The discussion highlights the challenges and opportunities in building a Bitcoin-based economy.

Chapters:
00:00 Intro
01:19 Bitcoin: The Future of Money?
05:33 Understanding Money: Mises and Beyond
12:33 The Need for Credit Money
18:24 Elasticity in Monetary Systems
25:28 Bitcoin Credit Money Explained
32:36 The Role of E-Bills in Bitcoin Economy
39:56 Wildcats vs. Traditional Banks
47:37 E-Cash: The Future of Transactions
01:04:50 Building the BitCredit Protocol

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#Bitcoin, #creditmoney, #monetarysystem, #Mises, #ebills, #Wildcatmints, #ecash, #inflation, #deflation, #AustrianEconomics