The Money Flower and why Bitcoin is a ponzi scheme | Morten Bech | TEDxBasel

In 2017 bitcoin and other cryptocurrencies reached an all time high. In this interview, Morten explains how we can define and characterize different forms of money, but that not all forms are equivalent. In fact, investing in Bitcoin is more akin to gambling and could be considered a Ponzi scheme as well as an environmental disaster. The intro animation was produced as a collaboration between TEDxBasel and the Hochschule Luzern. This animation was created by Benjamin Lüthold, Rhoda Berger and Ramona Graf. Find out more about this event and the other ideas that were shared at www.tedxbasel.com Morten Bech joined the BIS in 2011. Previously, he worked for the Federal Reserve Bank of New York and the Danish central bank. He holds a PhD in economics from the University of California, Santa Barbara. Morten has written about different issues relating to monetary policy implementation, money markets, network topology of financial markets, large-value payment systems and systemic risk. "Life can only be understood backwards; but it must be lived forwards." -Soren Kierkegaard This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at https://www.ted.com/tedx

Видео The Money Flower and why Bitcoin is a ponzi scheme | Morten Bech | TEDxBasel канала TEDx Talks