In the 1.5-hour program, Peterson discusses the physiological, technological, and economic implications of Bitcoin in detail. Der Gigi, John Vallis, Robert Breedlove, and Richard James are among the prominent Bitcoiners who will be participated in the debate.
During the episode, Peterson offers his thoughts and deep knowledge of Bitcoin basics. “It’s an intriguing notion that Bitcoin offers an immutable expression of wealth that is superior than gold,” he said. Dr. Peterson also questioned Richard James and Gigi some straight and painful queries about Bitcoin. The famous psychologist then modified their rationales to his liking.
Furthermore, Peterson consented with his visitors on many instances. He mentioned many good aspects of BTC, including: “So [Bitcoin] is fully transparent. It’s totally spread. There is no centralized power. It can’t be broken, stolen, or inflated, and it doesn’t inflate or deflate. It is not susceptible to any visible regulatory oversight.”
He also discussed the moral awareness that Bitcoin offers. “The exercise of Bitcoin venerating individual autonomy really tilts people toward doing something nice instead of something harmful. It isn’t simply neutral, as Gigi said; there is an inherent morality to Bitcoin that will probably charge it in a good direction,” he added.
The psychologist not only explained his knowledge, but he was also enthusiastic to explore more about it. Dr. Peterson demonstrated his eagerness to learn additional info about cryptocurrency’s functioning and how it fits into the broader picture of the financial network.
Surprisingly, the Canadian Professor also criticized Elon Musk’s erroneous remarks about Bitcoin. In response, he stated, “Whatever energy is spent in the creation of Bitcoin and the up-keeping of the network should be more than repaid by the improved efficiency of any system that utilizes Bitcoin as a settlement tool.”
“As a result, if you compute it over the whole system, there will be a net energy increase rather than a net energy waste. As a result, it is a folly to focus only on the cost of producing Bitcoin without factoring the efficiency that Bitcoin would generate.”
During the conversation, Breedlove also criticized the USD and fiat currencies broadly. He compared the Dollar to a pyramid scam. “The free market system, as you’ve defined it, Jordan, is a decentralized computer system,” Breedlove adds. He goes on to say that any interference or regulation is a step closer to “economic dictatorship.”