Podcasts: Bitcoin: A Novel Economic Institution with Yassine Elmandjra 🔗 4 years ago

“Bitcoin is not going away… whether or not you like it, whether or not you have qualms with it, whether or not your government has banned it or you know of a government has banned it. It lives and breaths on the internet and is effectively unstoppable.”
— Yassine Elmandjra

Location: Squadcast
Date: Wednesday 23rd September
Company: Ark Investment Management
Role: Thematic Analyst

Before the advent Bitcoin, financial systems operated based on trust. Central banks, government-issued fiat money and payment processors all rely on trusted third parties. Relying on trust-based systems leaves the user vulnerable to decisions that do not necessarily benefit them, from inflation of the money to supply to the censoring of transactions.

Bitcoin changes this.

With Bitcoin, there is a fixed supply and rigid monetary policy, and the rules of the system can't be changed at the whim of a small group of people. Add to this the ability to truly custody your wealth; it is clear to see why Bitcoin is so revolutionary.

Not everyone has been quick to pick up on Bitcoin. Many institutional investors are still sceptical for many reasons, from the old defunct arguments that Bitcoin is for criminals and terrorists to concerns around price volatility. However, there are signs that institutions are beginning to shift their thinking, highlighted by MicroStrategy's recent decision to move $425 million of their treasury into Bitcoin.

In this interview, I talk to Yassine Elmandjra, a Thematic Analyst at Ark Investment, who recently published two whitepapers on Bitcoin. We discuss trust-based v trust minimised systems, property rights and institutional investment in Bitcoin.

This episode’s sponsors:

Kraken - The best place to buy, sell & trade Bitcoin
BlockFi - The future of Bitcoin financial services
Sportsbet.io - Online sportsbook & casino that accepts Bitcoin
Casa - The leading provider of Bitcoin multisig key security.
Least Authority - Helping projects improve their security and build secure technology.

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WBD264 Show Notes: https://www.whatbitcoindid.com/podcast/a-novel-economic-institution-with-yassine-elmandjra

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