One Way Ratchet

10 Things You Need To Know About Bitcoin #1: The Money Printer | 013

Episode Summary

They will never stop printing more money. Ever.

Episode Notes

Dan and Trent launch 1st of 10 part series for people new to Bitcoin.

Part 1: The Money Printer

• Meet Trent!
• Brief intro into why we are doing this
• Mo Money Mo Problems
• Basic thesis statement: human beings with a money printer will use it - and never stop
• Picture if you had a money printer.  Would you use it?
• Basic human incentives. Politicians never want to give up proximity to money machine
• Money supply grown over 20x since 1971 - view chart
• We used to be on a gold standard for hundred of year - and society flourished
• Everything changed in 1971 when Nixon took US off the gold standard
• Todays's song: Mo Money Mo Problems by Notorious B.I.G.