Live at the Pacific Bitcoin Festival 2023, Preston Pysh hosts a fireside chat with Lyn Alden all about her new book Broken Money: Why Our Financial System is Failing Us and How We Can Make it Better.

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As we enter the year 2023, the concept of money as we know it seems to be in a state of disrepair. Inflation has been running rampant, eroding the value of fiat currencies around the world. This broken money system has left many searching for alternative forms of currency, and one that has gained significant traction is Bitcoin.

To shed some light on the current state of broken money and the role that Bitcoin plays in it all, we had the pleasure of interviewing renowned financial analyst, Lyn Alden. Known for her insights into macroeconomic trends and investment strategies, Alden has been closely monitoring the unfolding narrative between broken money and Bitcoin.

According to Alden, the issue with traditional fiat currencies lies in their susceptibility to inflation. “Inflation erodes the purchasing power of money, meaning that the amount you can buy with a given unit of currency decreases over time,” she explains. With central banks around the world pumping trillions of dollars into the economy, the value of these currencies continues to diminish, leaving individuals and businesses struggling to maintain wealth and financial stability.

This is where Bitcoin comes into play. As a decentralized digital currency, Bitcoin operates independently of any central authority, such as a government or a central bank. Its limited supply of 21 million coins and the underlying technology of blockchain make it immune to inflationary pressures. “Bitcoin’s scarcity is one of its most compelling features,” Alden highlights. “There will only ever be 21 million bitcoins, which means that as demand increases, the value of each bitcoin has the potential to rise significantly.”

But it’s not just the scarcity of Bitcoin that attracts people; it’s also its ability to operate outside the traditional financial system. In many countries, citizens face restrictions on accessing and transferring money. Bitcoin provides an alternative avenue for individuals to store and transfer wealth securely, with the added benefit of avoiding the hassle of dealing with intermediaries and third parties.

Furthermore, Bitcoin’s decentralized nature offers protection against potential government mismanagement or financial crises. During times of economic turbulence, individuals can rely on Bitcoin as a safe-haven asset. “Bitcoin acts as a hedge against traditional financial systems,” Alden affirms. “It provides a level of financial sovereignty and independence that is increasingly valuable in an uncertain world.”

However, it’s crucial to acknowledge that Bitcoin is not a magic solution to all problems associated with broken money. As Alden emphasizes, it comes with its own set of risks and challenges. The volatility of Bitcoin’s price is one such concern. Its value can fluctuate dramatically within a short period, making it a risky investment for those seeking stability.

Additionally, the regulatory landscape surrounding Bitcoin remains uncertain in many regions. Governments are still grappling with how to address this new form of currency, leading to a lack of clear regulations. As a result, investors and users must exercise caution when entering the world of cryptocurrency.

In closing, the year 2023 presents us with a clear dilemma: traditional fiat currencies are showing signs of fragility, while Bitcoin offers an alternative that is robust, transparent, and decentralized. Despite its challenges, Bitcoin continues to gain traction as a potential solution to the broken money system. As Lyn Alden succinctly puts it, “Bitcoin represents the next evolution of money, providing individuals with greater control and autonomy over their financial future.”