Bitcoin: The Financial Singularity with Austin Hill - WBD447
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 9 January 2022
⏱️ 71 minutes
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Summary
Location: New York Date: Wednesday 8th December Company: Former CEO of Blockstream Role: Entrepreneur, VC & Cypherpunk
It is a common refrain that we are living in unprecedented times. Yet, the most inconceivable changes to society are ahead of us. A confluence of exponential forces could see our species either flourish or wither. The changes that these forces will bring are fast approaching.
A technological singularity is predicted to occur in a generation: innovations will bring rapid change that is both bewildering and uncontrollable. These technologies will become increasingly cheaper and ubiquitous such that the risk profiles associated with misuse will grow significantly.
At the same time, we risk seeing the traditional financial systems shatter as exponential growth in debt finally becomes unsustainable and deflationary pressures finally dominate to destroy traditional credit systems.
Bitcoin can't solve all these problems, but it is a central part of the toolbox of solutions.
In the second of two interviews, I talk to Austin Hill, the entrepreneur, cypherpunk & venture capitalist. We discuss the singularity and vulnerable world hypothesis, how technology can strengthen totalitarianism and the role of Bitcoin in harm reduction.
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Transcript
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| 0:00.0 | The singularity is a point on an exponential curve whereby change starts to happen at |
| 0:07.6 | exponential rates that you just can't predict and you can't understand. |
| 0:12.1 | If we don't figure out how to use Bitcoin to lift everyone's |
| 0:16.1 | economic ladder up, then the risk factors to the future are just too high. |
| 0:21.6 | Hello there, how are you doing? |
| 0:23.0 | Welcome to the What Bitcoin did podcast, which is brought to you by Gemini, the only place I am |
| 0:28.0 | using for buying Bitcoin. |
| 0:29.0 | I'm your host Peter McCormack, and before we get into the interview today, I have a quick message from my show sponsors. This show is brought to you by |
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| 1:24.8 | Bitcoin with them. Do you know what I've been mining for over three months with them now? I |
| 1:28.3 | mined about 0.4 of Bitcoin which is pretty cool. I'm going to try and do updates on this every month, but with the price of where |
| 1:34.8 | Bitcoin is, I'm approaching having, I think about a third of my mining equipment paid off. |
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