Jeff Booth: The Power of the Free Market is in Few Hands, Bitcoin Fixes That

“We’re caught in this mirage of thinking that prices always have to go up or that our money has to be worth less each year for our system to work because we created a system like that,” he said.

article-image

Jeff Booth, entrepreneur and author of "The Price of Tomorrow"

share

key takeaways

  • Booth thinks our society is on a path where the power in the free market is being taken away and put into very few hands, but bitcoin provides the opportunity for the exact opposite system
  • As more and more people embrace bitcoin, you can see the real market of other prices falling against it because that is the free market, he said

Jeff Booth, entrepreneur and author of “The Price of Tomorrow,” joined Blockworks at The Bretton Woods: The Realignment conference and discussed the current state of debt, bitcoin and the free market. 

“The debt today is being monetized because the system must grow forever,” Booth said. Over $185 trillion of the global debt today was created during the last 20 years, he said. “All because we created a system that’s a credit based system, if you let the natural market happen it’ll fail,” he added.

“We’re caught in this mirage of thinking that prices always have to go up or that our money has to be worth less each year for our system to work because we created a system like that,” he said. 

The system can’t change itself and our society is on a path where the power in the free market is being taken away and put into very few hands, but bitcoin provides the opportunity for the exact opposite system, he said. “It’s the exact opposite because the system can’t change itself, technology often forces a system change that imposes itself on an existing system,” Booth added. 

As more and more people embrace bitcoin, you can see the real market of other prices falling against it because that is the free market, he said. 

Watch my full interview with Booth below.

Want more investor-focused content on digital assets? Join us September 13th and 14th for the Digital Asset Summit (DAS) in NYC. Use code ARTICLE for $75 off your ticket. Buy it now.

Tags

Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2023

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Unlocked by Template.png

Research

With the spot ETH ETF approval, the institutions are coming. stETH - given its dominance in marketshare, existing liquid market structures, and highly desirable properties - is poised for institutions.

article-image

The QT taper begins this month…but what does that mean for markets?

article-image

Plus, the rise of RWAs could bring about a significant shift in how real-world investments are managed and accessed

article-image

The distributed cell plan provider started selling its own hotspots in October 2023

article-image

The Brazil-based asset manager’s filing comes during a year of milestone bitcoin and ether fund approvals

article-image

The purchase of five sites in Georgia set to help CleanSpark hit its mid-year operating hash rate target of 20 EH/s

article-image

Plus, it’s beginning to look like we may be in for a cruel summer