The Proof of Work System

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://www.abebooks.com/first-edition/Twilight-Gold-1914-1936-Myths-Realities-Palyi/30927065697/bd

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 The Illusory Nature of Fiat Currency Supply Inflation
00:03:49 Fiat Currency is Psychologically Addictive and Destructive
00:07:31 The Most Dangerous Point in an Inflationary Cycle
00:09:11 Analogizing Inflation to Self-Destructive Alcoholism
00:10:46 The Inevitability of Inflation Pre-Bitcoin
00:14:51 “Groups of People Keeping their Options Open at the Expense of Others”
00:18:18 Central Banking and Gaslighting
00:23:54 Bitcoin and Exiting the Economic Dark Ages
00:27:12 The Twin Storylines of “The Twilight of Gold”
00:33:14 England: The OG Information Economy
00:38:16 Hard Money and the Necessity of a Flexible Wage-Price Structure
00:42:33 Price Deflation is Politically Unpalatable
00:44:41 Convertibility was the Best Way to Cast a Vote of No Confidence in Government
00:47:04 Suspending Convertibility Both Incentivizes and Finances War
00:50:02 NYDIG
00:51:10 Inflation as a Means of War-Financing is Infectious
00:55:05 How Do We Protect the Sanctity of 21M Bitcoin?
00:59:04 “The Lie that Proof-of-Stake is More Economically Efficient than Proof-of-Work”
01:04:56 Fractional Reserve Banking as a Bridge from PoW to PoS
01:08:22 Bitcoin is Your Voice, Your Influence, Your Say-So in the World…

SOCIAL
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WRITTEN WORK
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