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Bitcoin's primary role as a portable store of value versus a payment solution, compared to stablecoins for solving financial frictions.
TRANSCRIPT
There's over 30 currencies in Latin America. So we can imagine in the United States, if every state had a currency, and imagine all the cross-border frictions, not just in terms of payments, but in terms of cross-state lending and things like that.
So if an entity in New York wants to lend to an entity in Michigan, then you're balancing 50 different
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Saifedean Ammous • 1 highlight
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Bitcoin's shared ledger can be likened to the Rai stones of Yap Island discussed in Chapter 2, in that the money does not actually move for transactions to take place. Whereas in Yap the islanders would meet to announce the transfer of the ownership of a stone from one person to the other, and the entire town would know who owned which stone, in
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