Jimmy Song: A Philosophical Approach to Bitcoin

Real Vision: Finance & Investing

Real Vision

News, Business News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 14 July 2021

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

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Summary

Crypto Wednesday: Ash Bennington, Real Vision senior crypto editor, hosts Bitcoin developer, educator, and entrepreneur Jimmy Song to discuss how his thoughts on Bitcoin have been evolving over the last year, its future, alt-season, and the path to decentralization. Song states that value is not intrinsic, but rather subjective, and is the utility an individual can derive out of it. He explains that scarcity also factors into value, particularly money, and in that regard, Bitcoin is the ultimate store of value. As the current monetary system has a constant flow of money pushed through the economy at a high velocity, thereby creating wealth, Song explores how any form of solitary money would lose value in this system and how long-term stores of value such as real estate, stocks, and gold have power consolidated among only a few, which makes this system flawed. On the other hand, Bitcoin does not have any of these problems. Recorded on May 10th, 2021. Key Learnings: Song states Bitcoin is a savings technology, one that can be used over a long period of time. This, in turn, allows societies to focus on improving the future. Within the current monetary system, continual currency debasement, re-investment, and losses due to transactional fees can burden individuals too heavily in retaining the value of their money and can prevent society from bringing new goods and services to the market. Song believes Bitcoin is a civilization building technology, which can enable society to flourish in new and exciting ways. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:30.0	Thanks for having me, Ash. It's always a pleasure.
0:33.0	It's such a pleasure to have you here. I'm so excited. This is our first time on camera together.
0:36.0	I've interviewed you before, but I was off camera that time.
0:39.0	It's a pleasure to be on camera with you. I should say, Jimmy, you're one of our favorite guests.
0:44.0	You know, you have one of the broadest scopes of anyone in the Bitcoin space from the philosophical to the pragmatic from the spiritual to the technical.
0:51.0	This is like you span it all. And with that, I should say you are the only one who has the best experience of your business.
1:00.0	You know, you have one of the broadest scopes of anyone in the Bitcoin space from the philosophical to the pragmatic.
1:06.0	From the spiritual to the technical, this is like you span it all.
1:10.0	And with that, I should say, you are the author, one of the co authors, I should say, of the recently published thank God for Bitcoin, the creation, corruption, and redemption of money now available in hardcover, paperback, Kindle, and audible edition.
1:27.0	That's right. And yeah, it's it's a book focused on the moral argument for Bitcoin.
1:33.0	And it's it came out of a, you know, a bunch of meetings that we did over zoom during COVID.
1:42.0	So I feel like it was very productive, given the unproductiveness of that whole time.
1:49.0	Yes, very much a difficult time. You did a wonderful interview or conversation, I should say, with Robert Breedlove, aired on real vision, actually fittingly enough, last Christmas day, December 25th.
2:03.0	Yeah, and he's one of my co authors. So we had talked about a lot of the stuff that we talked about on camera before.
2:10.0	And, you know, getting into the depths of the morality of money and how it really is a way in which the state can take away money without direct taxation.
2:22.0	I thought it was an important part of the moral calculus that we have to actually do in order to figure out where to invest and so on.
	...

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