Divergent Progress In The Physical And Digital Worlds
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It is hard to argue with the assertion that Silicon Valley and the tech world are the spaces that are driving growth in the contemporary world. But why exactly is that?
In this episode of the “Bitcoin Magazine Podcast,” we were joined by Rob Hamilton, who published “Why Has The Physical World Not Progressed Like The Digital?” in Bitcoin Magazine recently, and we used this opportunity to unpack his piece.
“I think as Bitcoiners, the answer is, we have to build our own institutions,” Hamilton said.
As Hamilton shared his thoughts around how erroneous economic systems can be repaired with Bitcoin, he addressed damages caused by the short-sightedness of the business world. In our current fiat system, operators and large businesses are rewarded, causing us to be short-sighted in the wake of misaligned incentives.
“If the interest rate is higher, you are going to be rewarded today for holding into the future, and also the higher the interest rate, the more punished you will be for capital misallocation, because that is your opportunity cost of money,” Hamilton said.
Hamilton shared information about the blockchain online, offering massively-insightful and thought-provoking ideas for our listeners. Tune in to hear about the important role of institutions, where they go wrong, and the looming replacement of many of the current institutions and systems as we know them.