Saifedean Ammous on Why Bitcoin is the Most Advanced Form of Money
Aug 31, 2020•1 hr 9 min
Episode description
Saifedean Ammous is an economist and the author of The Bitcoin Standard: The Decentralized Alternative to Central Banking, which has been translated into 20 languages. In this episode, he discusses:
- the basic tenets of Austrian economics and why it is the only school where Bitcoin is possible
- historical examples of currencies and how they lost their monetary value
- the stock-to-flow model and how Bitcoin fits into that model
- the three functions, or descriptive properties, of money and why Bitcoin fulfills these functions
- the concept of sound money
- the idea of time preference in economics and why he believes it is so important
- the distinction between debt and money, and why they are not the same
- the significance of difficulty adjustment and why he believes it is the crowning achievement of Bitcoin
- why he views Bitcoin as the best store of value humanity has ever invented
the metrics he watches when assessing Bitcoin - what he thinks is in store for Bitcoin in the future, and whether he still thinks central banks will buy Bitcoin as a reserve currency
- his thoughts on Ethereum and other digital currencies
and his predictions for Bitcoin in the next year
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