Grumble is right, it was a fascinating listen. He gives a George Friedman-type of viewpoint to a lot of stuff that runs contrary to the mainstream narrative. My only major gripe was that he basically called Bitcoin a Ponzi scheme and its clear he hasn't studied it intensely. But overall this guy is brilliant, and Joe showed up for the interview sober and didn't pontificate for half the show instead of featuring his guest.
Well worth the listen, pods.
Bitcoin as a arbitrage IS essentially securities fraud. The unregulated pump and dumping over the last five years or so is pretty obvious. A subcategory of crypto shenanigans.
As a store of value, its not much different than physical gold. Nobody carries around bars of gold for trade. It's all handled via exchanges. One can't walk into Albertsons RIP[/s] Safeway and buy a maple bar (fucking delicious greatest pastry of all-tim) with either gold or Bitcoin.
@UW_Doog_Bot could give a much better economics perspective. The Throbber is still a little groggy this morning from an edibles/Guinness Saturday night.