We have been talking about precious metals quite a bit recently, and the conversation continues this week. The truth is, Bitcoin, gold, and silver are all very similar in the way that they are given value, but they have different strengths and weaknesses too. We are excited to have another fantastic guest with us this week, Robert Michael. He is the founder of CoinStax.com, a brand new bullion dealer that exclusively accepts Bitcoin. He will help us out as we work our way through a detailed criticism of Bitcoin by Franklin Sanders, the investor we mentioned a few weeks ago. He thought that the MtGox problem meant that Bitcoin was broken, but we disagree.
Mr. Sanders' response did not exactly relate to MtGox, but his points still sparked our interest. They have led to one of our most theoretical discussions about what money, currency, and value really are. Our chat went on for quite some time, forming our longest episode so far. This fascinating discussion will definitely get you thinking! Tim Baker, Daniel Brown, and John Stuart are your hosts again this week, and we are join by another very special guest, Robert Michael. Enjoy!