86. Layered Money with Nik Bhatia

In this episode Saifedean talks to Nik Bhatia, author of Layered Money. They begin by discussing Nik’s first essays on bitcoin, The Time Value of Bitcoin and The Lightning Network Reference Rate, and why Nik thinks “Lightning banks” are on their way. They move on to talk about Nik’s book, starting with an overview of how “layered money” developed on top of gold through financial institutions, and how this eventually culminated in the emergence of a pure fiat financial system. Nik and Saifedea...