Bitcoin and Time: The Economics of Absolute Scarcity
Robert Breedlove, CEO and CIO of Parallax Digital, argues that only two things in the universe are absolutely scarce – time and bitcoin. Until the invention of bitcoin, Breedlove says that gold had been the best monetary technology to transfer the value of time, but it is imperfect because it isn’t absolutely scarce. Bitcoin’s absolute scarcity, on the other hand, makes it the perfect monetary technology. He breaks down why the last two centuries of success for paper money is less clear cut than many people understand. Breedlove also discusses the economic theory of the value of time, the relationship between bitcoin and gold, and how bitcoin’s securability could impact monetary policy. Filmed on August 17, 2020.