Hyperbitcoinisation Can’t Happen with Mike Brock - WBD717

Mr Obnoxious

Peter McCormack

Technology, News, Politics, Money, Investing, Finance, Bitcoin

4.8 • 2.7K Ratings

🗓️ 3 October 2023

⏱️ 102 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mike Brock is the lead at TBD, the Bitcoin-focused subsidiary of Block. In this interview, we discuss Bitcoin’s limitations in solving complex societal problems, counter-arguments to the narrative that monetary flexibility leads to falling living standards and wasteful investments, the complexities and risks of Bitcoin’s widespread adoption, and why, despite certain limitations, Bitcoin still has the potential to be the most important monetary asset in human history.

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The Bitcoin community has had to harden itself against attacks from outside, by those either too ignorant or too invested in the incumbent system to allow themselves to understand the brilliance of the innovation. However, not all of those who raise issues counter to mainstream Bitcoin opinion are either attacking the innovation or the community. Some opinions are manifestly good faith attempts to sharpen the arguments needed to help wider Bitcoin adoption.

Mike Brock is someone who sits in this camp: he is an unapologetic advocate for Bitcoin but doesn’t necessarily agree with what could be framed as Bitcoin orthodoxy. In this podcast, we discuss in more detail the concerns around groupthink on certain issues, which is in turn leading to a branding issue that seems to be affecting wider adoption.

Specifically, is there a misconception in the Bitcoin community that Bitcoin has already won and will replace the US dollar? Has loose monetary policy since 1971 actually resulted in reduced living standards and significantly poor corporate investment behaviour? Are inflationary metrics providing a real understanding of consumer experiences? And, will a strict monetary policy have a net positive or negative influence on economies and societies?

Consideration of the arguments for and against deflationary or inflationary currencies enables Bitcoin’s true potential to be honed. However, even if Bitcoin has a long way to go before challenging the dominance of the US dollar, it has the potential to immediately help lift millions of people out of poverty by providing open, effective and cheap financial infrastructure. This means Bitcoin has a compelling narrative even within mainstream economic and political assumptions.

Show notes: https://www.whatbitcoindid.com/podcast/hyperbitcoinisation-cant-happen

This episode’s sponsors:
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Transcript

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0:00.0	Even if you come in with whole normy assumptions about economics and normy assumptions about
0:09.0	politics and normy assumptions about the world, I think you can come up with a really, really powerful
0:14.3	bull case for Bitcoin. There's so many good reasons to believe that this is
0:18.8	that this is going to be maybe over time the most important monetary asset in human history.
0:24.0	Hello there from Montecito, how are you all?
0:28.0	Me and Danny out in America, we're preparing for Pacific Bitcoin and we're recording a whole bunch of interviews.
0:33.5	Actually right now we're going to I can't tell you what it is but we're about to
0:36.4	record a very special interview in a very special location something means a lot to both
0:40.9	for us but anyway welcome to the What Bitcoin did
0:43.2	podcast, which is brought you by the legends at Iris Energy, the largest NASDAQ
0:47.2	listed Bitcoin miner using 100% renewable energy. I'm your host Peter McCormack
0:51.8	and today I've got my buddy Mike Brock back on the show.
0:55.0	Now Mike and me have a funny relationship. There's a lot of things we share, a lot of ideas we share,
1:00.0	there's a lot of things that we see discussed on Twitter or in the world of
1:03.7	Bitcoin that forces us have these little private debates, little discussions in
1:08.6	the DMs about what we agree with and disagree with, and there's been a few been building up.
1:13.2	So I said to Mike, come on mate, let's stop doing this in private, let's do this on the show.
1:17.8	So whilst we're out in LA, we got him down to the studio that we built, we got him down and
1:21.6	recorded a show. Now I don't think you're
1:23.8	going to agree with everything he said I think some people are going to be
1:26.3	triggered but you know what it's like I like to get a range of voices and
1:29.3	opinions on the show because I think that helps us with understanding Bitcoin
	...

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