What Bitcoin Did: Bitcoin is Truth with Jeff Booth & Austin Hill
For most in financial markets, Bitcoin and other cryptocurrencies offer a way to quickly make – or lose—money. However, since the start of Bitcoin in 2009, the project has taken on a considerable number of other dimensions beyond the monetary one.
That makes Bitcoin uniquely positioned to solve a number of society’s problems looming today. And ongoing improvements in the Bitcoin protocol can better ensure a positive outcome for mankind in the years ahead.
In the What Bitcoin Did podcast, guests Jeff Booth and Austin Hill look at Bitcoin. They show how having a secure, unconfiscatable form of money can help preserve and expand human freedom.
The results are bearing out in El Salvador. They became the first country to make Bitcoin legal tender less than a year ago. Since then, the country has seen a surge in tourism and an inflow of capital.
That’s in stark contrast to other small Latin American nations. Many tend to get stuck into paying debt to the International Monetary Fund.
Additionally, Bitcoin can be used to circumnavigate currency controls. That impacts the ability of many in impoverished nations to trade goods or services internationally.
Meanwhile, the use of Bitcoin as a payment method and form of savings can prove a better hedge against a local currency. That’s true even with the recent price volatility.