Introduction (0:00 to 58:00)

* Welcome message
* Acknowledgements
* Episode Inspiration

What is Money vs. Currency: (0:59 to 6:06)

* Personal Definition – a medium in which to store work or time.
* Technical Definitions

Reference: Hidden Secrets of Money by Mike Maloney

* The state and origins of paper currency.

Currency at one time was a voucher for gold that you could redeem at the nearest bank.

What is inflation? (6:07 – 11:05)

* The academic explanation (Refer to Peter Schiff and the Austrian School of Economics).
* My view on inflation:
* In 1865 Slavery never ended, it only changed form to include everyone.
* Transitioned from an ownership model to a pay per use one, like Uber is doing with cars., removing the ownership headaches.
* Governments, Central Banks, and Billionaires have a lot of time to think.

* Inflation concepts explained to millennials: “In Time” with Justin Timberlake and Amanda Seyfried.

What is a Bank? (11:06 – 14:57)

* Definition
* Consequences on the meaning in light of negative rates and digital currency.
* Evolution from Savings & Loan to Bailout & Con
* Dividend stocks alternative.

Bitcoin (14:58 – 22:36)

* What is it?
* Analogies to social media & music mediums
* Origins, appearing during the 2009 financial crisis
* Benefits of Bitcoin

Even the largest bank in Norway, the most digital country in the world, has problems staying online.

* Bitcoin Bottlenecks & Weaknesses

* Wallets
* Repositories
* The analogy between Bitcoin and Wallets vs. Gold and Vaults.
* Most notable weakness – dependence on manmade infrastructure.

 

Part 2 Next Thursday

References:

Bitcoin Heists

http://www.coindesk.com/hackers-steal-bitcoins-inputs-io-wallet-service/

http://www.thedailybeast.com/behind-the-biggest-bitcoin-heist-in-history-inside-the-implosion-of-mt-gox

Banks Pay Hacker Ransom in Bitcoins

https://futurism.com/banks-are-hoarding-bitcoin-to-pay-off-hackers/

http://www.zerohedge.com/news/2017-06-08/jim-cramer-goes-batty-bitcoin-may-hit-1000000-act-now-its-too-late

Different Types of Bitcoins

http://www.hongkiat.com/blog/hottest-cryptocurrencies-to-know/

China and Bitcoin

Is China Gaming Bitcoin? | China Uncensored

Modern Slavery

USA Today: Rigged – Forced into debt. Worked past exhaustion. Left with Nothing.