Unit 7 Lecture

Introducing the gold standard can be considered as a highly effective strategy for undermining Bitcoin and its utility. Gold holds significantly greater liquidity, with a value approximately 100 times larger than Bitcoin. While such a scenario may not entirely eradicate Bitcoin, it would likely generate increased skepticism and reluctance towards its adoption. Nevertheless, it is crucial to note that the gold standard was abandoned for specific reasons, making its reinstatement highly improbable. Topics covered include: Government attacks The gold standard Free market Human action Central bank Hyperinflation The primary value proposition of Bitcoin lies in its ability to circumvent government controls. If government controls were to be eliminated, the incentives for adopting Bitcoin would be diminished. However, placing bets on the removal of government controls can be perceived as an exceedingly risky proposition. The objective of this unit is to provide students with a comprehensive understanding of the various potential attack vectors that could cripple Bitcoin. While exploring these scenarios, it is important to consider their validity; however, it is crucial to recognize their highly improbable manifestation in the real world.