Nam Sardar is the founder and CEO of Neel Capital, a returns-focused cryptoasset investment firm that combines fundamental analysis with an active management approach. She became interested in cryptocurrency and DeFi in early 2020, and has since made it her mission to help others understand blockchain technology and its potential, hedge against inflation in a sustainable and emerging asset class, and generate & securely store wealth.
- “Ep. 82: Will bitcoin become a global reserve currency, with Eric Yakes.”
- “Ep. 73: Trent Fowler explains how the blockchain works.”
- “Ep. 61: Peter McCormack on the present and future of Bitcoin.”
One of the properties we want in a money is fungibility. When something is fungible, it means that each discrete unit is indistinguishable from another unit. Put another way, $1 is always $1, and you can trade $1 for another without it ever really mattering.
If each dollar carried its prior history with in the way that Bitcoins do, then individual units would no longer be interchangeable. If one dollar had been used for a drug transaction, it might only be worth 75 cents; if another had been held by a famous person, it might be worth $1.75.
That would mean the fungibility property had been broken, which would compromise its usefulness as a money. Nam Sardar argues that bitcoin does exactly this thing, because the distributed ledger that tracks all the addresses that have ever held a bitcoin and every transaction it has ever been involved in, which breaks the crucial fungibility property.
She concludes that, because Monero does not commit these errors, it is a superior money.