Gold became money as determined by the free market because of its properties—scarcity. But with the invention of Bitcoin, we are now seeing a historical event that will never be repeated. Bitcoin’s characteristics make it a direct competitor to the central banks because of its absolute scarcity, resistance to theft and confiscation, and the system that it’s built upon prevents it from being shut down.

Saifedean Ammous, economist and author of The Bitcoin Standard: The Decentralized Alternative to Central Banking says, “The higher the ratio of the stock to the flow, the more likely a good is to maintain its value over time and thus be more salable across time.” And he says it’s this reason Bitcoin is the only working alternative for central banking.

Host Robert Kiyosaki and Saifedean Ammous answer the questions surrounding Bitcoin and why it the “first demonstrably reliable operational example of digital cash and digital hard money.” 

Website: http://www.saifedean.com

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The content presented here is based on the speaker’s personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.