Show: "What Bitcoin Did". Episode: "Confuse Experts". When it comes to Bitcoin, Brent's take is "I think X is going to happen, but would not be surprised about -X". https://www.youtube.com/watch?v=lUPDZvFf1Is

That is crazy - I look into it again tomorrow 🫡

Yes, I get it, and I can see your points. I can also see why what can be called oversimplification is necessary to get the message across to a wider audience. And, let's be honest, the topic of finance is quite simple: there are assets and instant settlement on the one hand, and there is credit, expectations, and trust on the other. If you and I make a bet today to be settled in the future, we can both still handle it. If one of us is then going to sell his expected earnings from the bet to another man who packages it into a product with a cool name and a good rating,g and if then, many years later, your own pension fund bundles that product into your package .... only then it becomes complicated, opaque, nobody's fault, nobody's responsibility. So in my humble view, the financial mess out there totally justifies simplification in selected spots. But I get your point :-) ... and The Gold Standard may not be a good birthday present for you :-)

Halfway through ' The Gold Standard, I’m intrigued by its novel genre and delighted by how gripping it is. Without giving away too much, the takeaway for me is this: When the status quo drifts too far from reality, imagining—and building—a better one stops being optional.

This design is both clear and cost-effective, particularly regarding future maintenance costs.