Name: 24. Conclusion
Uploaded: 2020-03-29T16:09:49.000Z
Duration: 1 h 6 min 51 s
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GARY GENSLER: All right, so we're going to try to--

I was giving a little bit more time for more people

chat about what did we cover this semester.

and why does that matter, and if you go away from all this.

Satoshi Nakamoto's innovation-- what is that again?

why the financial sector is so entwined in all of this,

though it's not the only place we're going.

A little bit about crypto finance and public policy

frameworks, and then wrap it up with a quote from Ben

Franklin-- will be the last thing we talk about at the end,

but that, too, just like helped me wrap up the whole semester.

As I told you, I'm neither a maximalist or a minimalist,

going to ask you all to kind of let me know where you ended up.

AUDIENCE: Medium of exchange, unit of account,

GARY GENSLER: Medium of exchange, unit of account,

we go through all the history and the archeology of it,

which came first, but all three really matter.

I'm not talking about the other 1,600 tokens--

Bitcoin fulfills these three roles of money?

A whole semester, and all you can say is nope?

AUDIENCE: So not a store of value because of [INAUDIBLE]..

GARY GENSLER: So Brotish says not a store of value,

but isn't it $60 billion of value right now?

So there is a value, but it's too volatile.

It's volatile when you think of it in exchange of a dollar,

It's only volatile if you think [INAUDIBLE] a dollar.

AUDIENCE: But that same thing is true of corn, right?

AUDIENCE: In response to [INAUDIBLE] none

So you can't really treat Bitcoin on a standalone basis.

AUDIENCE: I don't know if I agree with that.

But I would say that pretty much anything can fit into all three

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24. Conclusion

individual

bunch

commitment

native