CoinDesk’s Money Reimagined

As Bitcoin Surges, So Does Its Recognition | Emerging as a Possible Arbiter of Truth?

Lyn Alden, Investment Strategist, explores different aspects of Bitcoin's value proposition and its potential impact on the global economy.

Presented by

Listen or watch all the new CoinDesk podcast episodes wherever you want.
Cast BoxiHeartiTunesPocket CastsRSSRadio PublicSpotify

ABOUT

This episode is sponsored by Consensus 2024.

Now Available for pre-order |

Michael Casey’s New Book with Frank H. McCourt, their forthcoming book: Our Biggest Fight: Reclaiming Liberty, Humanity, and Dignity in the Digital Age

In this week's installment of "Money Reimagined," hosts Michael Casey and Sheila Warren are joined by Lynn Alden, author of the book 'Broken Money,' and discuss Bitcoin's place in the global economy.

Casey, Warren, and Alden discuss Bitcoin as a decentralized ledger, addressing the double spending problem and its disruptive impact on traditional banking. Their conversation emphasizes the importance of trust in financial systems and explores catalysts for wider Bitcoin acceptance. Topics include Bitcoin's value proposition, its role as a store of value, and the challenges faced in the legacy financial system.

Takeaways |
  • Bitcoin is a decentralized ledger that solves the double spend problem and acts as a global, immutable database.
  • Bitcoin disrupts traditional banking by providing a decentralized alternative to centralized ledgers.
  • The recognition and acceptance of Bitcoin by mainstream economists and institutions is a gradual process that requires time and critical mass.
  • Bitcoin's importance in the global economy is demonstrated by its increasing market cap and its potential as an alternative ledger.
  • Further acceptance of Bitcoin may be unlocked through the exhaustion of alternative ledgers and the stickiness of the asset. Bitcoin's value as a store of value is derived from its potential utility and the belief that it will be widely adopted in the future.
  • Bitcoin's immutability and finality make it a trusted source of exchange and a potential arbiter of truth.
  • Bitcoin's security is continuously tested and improved as it grows in size and adoption.
  • Bitcoin has the potential to serve as a truth layer for various applications, such as contracts and identity verification.
  • Bitcoin's disruptive potential poses challenges to the existing legacy financial system, which may resist its adoption.
Links |

Lyn Alden

Bernstein Is 'Now More Convinced' That Bitcoin Will Hit $150K After Massive Rally

Bitcoin Eyes $74K as BTC ETFs See Record $1B in Net Inflows

The World Economic Forum

CoinDesk.com


Consensus is where experts convene to talk about the ideas shaping our digital future. Join developers, investors, founders, brands, policymakers and more in Austin, Texas from May 29-31. The tenth annual Consensus is curated by CoinDesk to feature the industry’s most sought-after speakers, unparalleled networking opportunities and unforgettable experiences. Take 15% off registration with the code MRP15.

Register now at consensus.coindesk.com


Money Reimagined has been produced and edited by senior producer Michele Musso and our executive producer is Jared Schwartz. Our theme song is “The News Tonight ” by Shimmer.

HOSTS

Michael J. Casey

Michael J. Casey is Chairman of The Decentralized AI Society, former Chief Content Officer at CoinDesk and co-author of Our Biggest Fight: Reclaiming Liberty, Humanity, and Dignity in the Digital Age. Previously, Casey was the CEO of Streambed Media, a company he cofounded to develop provenance data for digital content. He was also a senior advisor at MIT Media Labs's Digital Currency Initiative and a senior lecturer at MIT Sloan School of Management. Prior to joining MIT, Casey spent 18 years at The Wall Street Journal, where his last position was as a senior columnist covering global economic affairs.

Casey has authored five books, including "The Age of Cryptocurrency: How Bitcoin and Digital Money are Challenging the Global Economic Order" and "The Truth Machine: The Blockchain and the Future of Everything," both co-authored with Paul Vigna.

Upon joining CoinDesk full time, Casey resigned from a variety of paid advisory positions. He maintains unpaid posts as an advisor to not-for-profit organizations, including MIT Media Lab's Digital Currency Initiative and The Deep Trust Alliance. He is a shareholder and non-executive chairman of Streambed Media.

Casey owns bitcoin.

Michael J. Casey