BitCoin's Difficulty Adjustment Is Really Interesting

My friend and fellow student of money codenamed "Lester" joins me for a multi-episode conversation exploring the excellent book "The Twilight of Gold" by Melchior Palyi.

Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/

GUEST
Lester's Twitter: https://twitter.com/ProgrammableTx

BOOK
The Twilight of Gold: https://archive.org/details/twilightofgold190000paly/

PODCAST
Podcast Website: https://whatismoneypodcast.com/
Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400
Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1
RSS Feed: https://feeds.simplecast.com/MLdpYXYI
Transcript:

OUTLINE
00:00:00 “What is Money?” Intro
00:00:08 Some Reflections on The Bank of England
00:05:11 Bitcoin as “The Ultimate Land Grab”
00:09:46 Stock-to-Flow Ratios and the Contradiction of a Gold Standard
00:15:58 England’s Subjugation of India through Force and Money
00:20:20 Hashes per Kilowatt Hour per Sat: The Most Stable Metric
00:29:00 The Human Obsession with Automaticity
00:33:21 A Potential Weakness in Bitcoin: Rule Changes
00:34:27 NYDIG
00:35:35 The Key to Sustainable Social Institutions: Resistance to Rule Changes
00:41:34 The Weaponization of Inflation and Deflation
00:45:36 Real Price Deflation and the Future of Employment
00:49:29 Bitcoin Incentivizes You to Improve the Intelligence of Others
00:53:00 Gold as a “Pre-Commitment Mechanism”
00:56:00 Bitcoin as the Ultimate Ulysses Contract
01:00:24 How the Gold Standard Directly Incentivizes War
01:02:43 There are Only Two Ways to Resolve Disputes: Contract and Conflict

SOCIAL
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WRITTEN WORK
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WAYS TO CONTRIBUTE
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RECOMMENDED BUSINESSES
Worldclass Bitcoin Financial Services: https://nydig.com/
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Buy Your Dream Home without Selling Your Bitcoin with Ledn: https://ledn.io/en/?utm_source=breedlove&utm_medium=email+&utm_campaign=substack