Blue Collar Bitcoin cover image

BCB076_ALLEN FARRINGTON: Bitcoin Jiu-Jitsu

Blue Collar Bitcoin

00:00

Casino Chips

It's designed to not be accepted as a medium of exchange. It has no optionality in exactly the way that money, like real money does. You only value and therefore bother to have casino chips when you're in a casino because that's the only place that you can cash them. Even if there's hypothetically massive demand for whatever this utility is, right? But there's still no reason to expect the actual token itself to have any value. The even more dangerous thing that's around out what we're referencing in the quote is that you would only want to possess it and you would only value it while you were in the casino.

Play episode from 01:10:05
Transcript

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app