Many people think of Bitcoin as the ultimate contender against the power of central banks, most importantly the Federal Reserve System. But that is certainly not the only way that cryptocurrencies and the blockchain can be used and one particularly interesting idea is that central banks could issue their own cryptocurrencies. To discuss how this could be done and what the consequences could be we were joined by David Andolfatto, a Vice President of Research at the Federal Reserve Bank of St. Louis and a professor of Economics at Simon Fraser University. The views and opinions expressed by ou guest are his own and should in no way be attributed to his employer. Topics covered in this episode: What makes good money? How does Bitcoin fare in comparison? What is Fedcoin and how could it work? Why the tension between a governments desire for control and the desires for ‘permissionless innovation’ could make this difficult to implement Whether Fedcoin would threaten fractional reserve banking Why competition between currencies, both governmental and non-governmental, could be a good thing Episode links: David Andolfatto: Why Gold and Bitcoin Make Lousy Money David Andolfatto: On the Desirability of a Government Cryptocurrency Business Insider Interview with David Andolfatto Robert Sams: Seignorage Shares This episode is hosted by Brian Fabian Crain and Sébastien Couture. Show notes and listening options: epicenter.tv/083

From the mysterious creation story, to the early development among a small group of cypherpunks, to the emergence of the Silk Road, the collapse of MtGox, to the entry of a tidal wave of VC money and the Silicon Valley elite, Bitcoin’s short history has been action-packed. It’s no surprise that this could make for a riveting story and NY Times journalist Nathaniel Popper’s book ‘Digital Gold – Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money’ is precisely that. Popper joined us for a conversation about his must-read book about the remarkable story of Bitcoin. Topics covered in this episode: How Nathaniel Popper ended up writing a book about Bitcoin Why he chose ‘Digital Gold’ as a title and some of its different connotations Why he chose to focus on the people and stories of Bitcoin rather than the technology The story of the Silk Road and how it played such a critical role in the early days of Bitcoin How Xapo CEO Wences Casares came to play a crucial role in evangelizing Bitcoin among Silicon Valley’s power players The rising tension and passing of influence between the old, ideological guard and the newer Silicon Valley crew Episode links: Get 'Digital Gold' on Amazon Nathaniel Popper's website Can Bitcoin Conquer Argentina article Decoding the Enigma of Satoshi Nakamoto This episode is hosted by Brian Fabian Crain and Sébastien Couture. Show notes and listening options: epicenter.tv/081