Saifedean Ammous on Understanding Bitcoin Economics - WBD127

Mr Obnoxious

Peter McCormack

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

4.8 • 2.7K Ratings

🗓️ 19 July 2019

⏱️ 78 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

When landing in the world of Bitcoin there are many concepts down the rabbit hole to get lost in, from technology to economics there is a wealth of information available. Within the world of economics, many will discover the theory of Austrian economics for the first time.

Those who believe in Austrian Economics believe in free markets, the gold standard and minimal government intervention. So where does Bitcoin fit into this? Could it be the perfect tool to facilitate a free market Could it even become an improved and new gold standard?

To find out more, I sat down with Saifedean Ammous, author of The Bitcoin Standard and an Associate Professor in Economics at the Lebanese American University. Having recently launched his online academy it was a great time for Saifedean to teach me more about Austrian Economics and catch up on our mutual love for Liverpool FC. We discuss:

Is Austrian Economics the only economic model that Bitcoin fits into?
Is taxation theft?
What makes a market a free market?
What is money and is Bitcoin money?
Will fractional reserve banking occur with Bitcoin?
Will central banks adopt Bitcoin?
Will improved monetary policy kill Bitcoin?
Will Liverpool win the Premier League in ‘20?

Transcript

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0:00.0	Welcome to the What Bit Bitcoin Did Podcast.
0:07.0	Hello from sunny Los Angeles, how are you all?
0:10.0	Welcome to the What Bitcoin Did Podcast, which is brought to you by Krakhan, without doubt the single best
0:14.8	exchange in the world.
0:16.8	What a week, right?
0:17.8	How are you all?
0:18.8	How are you all?
0:19.8	How are you taking it all in?
0:20.4	Trump has been tweeting about Bitcoin. David Marcus discussing Libra in Congress,
0:25.0	Senators and congressmen and women revealing their Bitcoin hands
0:29.0	and our very own Melton Dumuels crushing it in Congress too.
0:32.0	Wow, what a week.
0:34.0	Bitcoin is being discussed at the very highest levels of the most powerful government in the world.
0:38.4	Well played Bitcoiners. I think this shit is about to get crazy.
0:41.8	Anyway I've got a great show this week. I've got the I think the shit is about to get crazy.
0:42.5	Anyway, I've got the author of the Bitcoin standard,
0:46.2	Safety and Moose teaching me about Austrian economics,
0:48.8	but before that I've got to tell you about my amazing sponsors.
0:52.3	Okay, so firstly, today's show is brought to you by the
0:55.0	best Bitcoin mobile wallet in the world. Drop Bit you know them. I've been working
0:59.5	with them for ages now. They are the most bad-ass mobile wallet for your Bitcoin. You can tweet and you can
1:06.4	text Bitcoin to your friends which I've been doing. I've been doing it quite a bit. Some of you
	...

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