Summary Notes:
Money is information that is communicated through an economy. Every 50 or so years, the system gets smarter. In 1913, the Federal Reserve stepped in to create a distributed banking system. The Euro dollar banking system was outside of the US and was an informal bank network that linked the world's financial systems that started around the 1960s ish. This led to the Blockchain based financial system that was built after 2008, starting with Bitcoin. Bitcoin and Ethereum are both rules-based monetary systems that are programmed and can't be changed by a centralized group. Anybody can plug into the system and become a validator, and if a rule is broken, you lose your money. Staking is when validators put up money to support the system and get rewards for verifying transactions.
Validators on the Ethereum blockchain receive rewards in ETH for verifying transactions. The more ETH a validator has, the more lottery tickets they can buy, increasing their chances of winning. The winner gets to propose a new block of transactions, but if they cheat they lose their tickets and ETH stake. This system is an automated way to enforce rules, and is more transparent than a traditional financial system, as everyone can look into the blockchain to see what is happening.
Timestamps
0:01:18 Discussion on the History of the Federal Reserve System
0:03:55 Exploring the Evolution of Money: A Discussion on the Impact of Trust and Transparency in Financial Systems
0:10:56 Exploring the Benefits of Blockchain-Based Financial Systems
Powered by Stone Hill Wealth Management
https://stonehillwealthmanagement.com/
The Importance of Building a Business Treasury for Long-Term Success
Understanding the Changing Landscape of Finance and Investing
Mitigating the Unintended Consequences of Business Failure: Divorce, Death, Disability
Understanding Currency Trading and Investing in the Future Economy
Embracing Emotions for Successful Wealth Building
WBMS Docuseries: Healthy Mind, Body, and Spirit (Episode 4)
Exploring Alternative Payment Options and Mitigating Fraud Risks
Understanding the Core Building Blocks of Finance
Buy, Borrow, Die: A Wealth Building Strategy for the Rich
Understanding the Evolution and Flow of Money in Wealth Building
Building Financial Confidence: Navigating Thoughts, Actions, and Feelings
The Risks and Rewards of Surge Pricing in the Fast Food Industry
Understanding the Fundamentals of Money Management
Overcoming Negative Emotions About Money
Maximizing Retirement Savings and Tax Benefits for Business Owners
Sound Money Management: Principles for Individuals and Society
Building a Strong Business Foundation: The Business Planning Pyramid
Bitcoin Mining: A Lucrative Opportunity for Investors in the Crypto Space
WBMS Docuseries: Healthy Mind, Body, and Spirit (Episode 3)
Private Equity Trends for 2024: How to Attract Investors for Your Business
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
Aligned Money Show
Dubai Property Podcast
IBKR Podcasts
The Ramsey Show
The Clark Howard Podcast