In this episode: The difference between base money and broad money Why Bitcoin should be compared to base money and not the broad money supply How exchanges are serving as proto free banks — and why they might end up becoming transparent fractional reserve institutions How free banking actually worked Why unrestricted banking bitcoin trading global tends to equilibrate with single digit reserve ratios How the Scottish free banking system was stable despite fractional reserve How Bitcoin improves upon gold in a free banking system The role of Proof of Reserve in a neo free banking system Bitcoin trading global bankruptcy of the Ayr Bank and what it tells us about the Scottish banking system Why 'free banking' in the US wasn't really free Bitcoin passes the Swiss Franc Where Bitcoin stacks up relative to all the major sovereign base monies Follow Matthew on Twitter and check out the Monetary Base project.
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Head over to aave. More Episodes Matthew Mežinskis, creator of the Crypto Voices Global Monetary Base project joins the show to discuss how Bitcoin stacks up against sovereign currencies.