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- Jordan Peterson published a podcast titled “Bitcoin: The Future of Money?”
- Describes Bitcoin as an incorruptible language of value just akin to gold
- Peterson said that BTC or Bitcoin is entirely transparent.
Cryptocurrency is once again the hottest topic amongst analysts and talk shows focused on financial matters. Controversial Canadian psychologist Jordan Peterson appears to have turned onto Bitcoin in the latest episode of his podcast.
This week, the Canadian personality Jordan Peterson published a podcast titled “Bitcoin: The Future of Money?”. The podcast hosted prominent Bitcoin buffs, including John Vallis, Der Gigi, Richard James, and Robert Breedlove.
The podcast titled “Bitcoin: The Future of Money?” was published on August 10. It included a panel of Bitcoin experts, including John Vallis, the host of the Bitcoin Rapid-Fire podcast, Bitcoin coder Der Gigi, film creator Richard James, and Robert Breedlove, ex-hedge fund manager and host of the “What is Money?” show.
Bitcoin is just akin to gold.
Peterson, in a video, puts forward a concise description of the innovation from where Bitcoin derives its value from. Describing Bitcoin as an incorruptible language of value just akin to gold, Peterson, who claims to have an IQ around 150 throughout the episode, prompted his guests to provide their views on Bitcoin’s value to society. The 59 years old author then re-articulated their answers back to them to form a fundamental understanding of its key concepts.
Peterson said that BTC or Bitcoin is entirely transparent. There is no centralized authority that has the final say in running the system. Bitcoin cannot be cracked, nor can it be stolen. It doesn’t inflate and is also beyond any form of overt administrative control.
Peterson may not be a crypto proponent, but he knows much about Bitcoin and Blockchain than he seemed to let on the video. Peterson started accepting Bitcoin donations way back in 2018 after he boycotted Patreon over free speech issues.
The clinical psychologist did not shy away from discussing the significance of blockchain tech on multiple occasions. In an interview with Grant Blaisdell in January 2020, he cautiously stated that the new financial system solves several existing issues. Still, it will surely throw up a bunch of new issues.
Peterson also questioned the guests of what he thought about the downside of Bitcoin and also talked about the environmental concerns expressed by Elon Musk and the sustainability of mining practices behind the asset.
Bitcoin is transforming society in terms of decentralization
However, the guests were in unison that the energy required to maintain the Bitcoin network was worth it because of its transformative effects on society in terms of decentralization. Bitcoin Coder Gigi said that society questions everything and its worth.
Peterson concluded the discussion when he said that if Bitcoin’s value propositions were true, the result would be that energy used in the production of Bitcoin and the maintenance of the system must be reciprocated by augmented efficiency of every system that uses Bitcoin as a transactional device.
Peterson concluded by saying that there will be a net energy gain, not a net energy loss across the entire system. Therefore, it will be erroneous to look at the cost of generating Bitcoin without considering the efficiencies that Bitcoin would produce.