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← The Pomp Podcast

#843 Bitcoin's Expansion Around The World w/ Nic Carter

3/1/2022 · 71 min · transcript via mlx

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Key topics

— Mexico's senator is drafting legislation to make Bitcoin legal tender, following El Salvador's model, framing it as financial inclusion rather than speculation.

— Russia has shifted toward pro-Bitcoin and pro-cryptocurrency stances after threatening sanctions, positioning Bitcoin as a neutral settlement network to hedge against dollar exclusion.

— The Canada trucker protest sanctions represent an unprecedented attack on civil liberties in a Western democracy, including retroactive criminalization of donations and targeting of US crypto companies.

— Media outlets are misattributing inflation and energy prices to the Russia-Ukraine conflict when structural causes (energy policy, monetary expansion) are the primary drivers.

— US energy policy restrictions—bans on fracking, pipeline infrastructure opposition, and accelerated hydrocarbon transition—have created unnecessary domestic energy scarcity and geopolitical vulnerability.

— CBDCs pose an existential threat to financial privacy and freedom through embedded surveillance and government control, whereas stablecoins provide private-sector alternatives that serve actual user demand.

Market & price signals

— None discussed.

Actionable insights

— Hold self-custody of Bitcoin and familiarize yourself with non-custodial wallet tools; Canada's actions demonstrate that governments can freeze bank accounts and target exchange accounts retroactively, making personal key management critical.

— Educate others by starting with the problem (currency debasement, inflation eroding savings) rather than the technology; Canada's overreach has created a teachable moment about why Bitcoin exists.

— Monitor stablecoin regulatory developments and support private-sector alternatives; CBDC proposals are advancing while stablecoins ($155 billion in circulation) already meet global demand for dollar access without surveillance.

Episode sponsorships

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