Which Money Is Crazier: The U.S. Dollar or Bitcoin?

We compare the U.S. dollar with Bitcoin on their key attributes to determine which is better for transactions and preserving wealth, which is most absurd and which has serious flaws. Topics covered include:How are new U.S. Dollars and Bitcoin createdHow much has the supply of each currency grownHow both the dollar and Bitcoin have had rule changesWhy Bitcoin transactions are faster than non-cash U.S. dollar transactionsWhy both the dollar and Bitcoin require add-on layers to facilitate transactionsHow tax treatment of a currency can encourage or discourage its use for paymentsWhy divisibility is a critical attribute of any currencyWhy Bitcoin has been as volatile as the Russian rubleWhy Bitcoin is energy inefficient while having built-in incentives to use renewable energyWhat will determine the long-term viability of Bitcoin and the U.S. dollar For more information on this episode click here. Sponsors Masterworks - the premier platform for investing in blue chip art Policygenius Show Notes Federal Reserve Statistical Release: H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks, August 19, 2021 Check Processing—Federal Reserve Bank of New York Gold Reserve Act of 1934—Federal Reserve History Creation of the Bretton Woods System—Federal Reserve History Financial Accounting Manual for Federal Reserve Banks, July 2021: Chapter 5. Federal Reserve Notes—Board of Governors of the Federal Reserve System Financial Statements: Federal Reserve Bank of Kansas City; As of and for the Years Ended December 31, 2020 and 2019 and Independent Auditors’ Report A Complete Guide to Understanding and Protecting Against Inflation—Money For the Rest of Us Bitcoin: A Peer-to-Peer Electronic Cash System by Satoshi Nakamoto—Bitcoin What is a fork?—Coinbase Mapping the Major Bitcoin Forks by Ashley Viens—Visual Capitalist Total Circulating Bitcoin Chart—Blockchain There’s Enough Bitcoin For Everyone by Paul Opoku—Nasdaq Lightning Network: Scalable, Instant Bitcoin/Blockchain Transactions Crypto Crime Summarized: Scams and Darknet Markets Dominated 2020 by Revenue, But Ransomware Is the Bigger Story—Chainalysis Americans' Spending on Illicit Drugs Nears $150 Billion Annually; Appears to Rival What Is Spent on Alcohol by Beau Kilmer—RAND Corporation 39% of PoW mining is powered by renewables – Cambridge University Cryptoasset study by Gareth Jenkinson—The Daily Chain Bitcoin Energy Consumption Index—Digiconomist The Bitcoin vs Visa Electricity Consumption Fallacy by Carlos Domingo—Hacker Noon El Salvador Readies Bitcoin Rollout With 200 ATMs for Conversion by Michael D McDonald—Bloomberg Related Episodes 316: Paper, Rocks, or Digits—What Makes the Best Money 335: Are Non-Fungible Tokens (NFTs) Good Investments? 339: How To Make Money with BlockFi, Dai and the Evolving DeFi Ecosystem See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.