Is Bitcoin Too Volatile?

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The value of your dollar doesn't change 40% overnight, 20% overnight or something like that. But it does go down reliably. It's going to go down by 40%. You can count on it. As Bitcoin grows, think about it as a liquid pool of money. One rich guy decides to get into Bitcoin. That's going to show up on the Bitcoin chart.

Saifedean Ammous is an Austrian economist and author of The Bitcoin Standard and The Fiat Standard. Please support this podcast by checking out our sponsors:
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Books & resources mentioned:
The Fiat Standard (book): https://amzn.to/3FmNfsy
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The Blocksize War (book): https://amzn.to/3LORQ9o
The Theory of Money and Credit (book): https://amzn.to/3ykreZT
Human Action (book): https://amzn.to/3w9LzP4

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OUTLINE:
Here’s the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
(00:00) – Introduction
(07:53) – Money
(20:58) – Gold standard
(34:09) – Collective hallucination
(39:59) – Austrian vs Keynesian economics
(1:12:20) – Free market
(1:28:49) – Monarchy
(1:34:23) – Fiat money
(2:21:13) – SWIFT system
(2:34:03) – Bitcoin
(2:40:20) – Satoshi Nakamoto
(2:48:04) – Criticisms of Bitcoin
(3:03:16) – Football/soccer
(3:06:58) – Criticisms of Bitcoin continued
(3:17:17) – Bitcoin Maximalism
(3:29:40) – Proof of stake
(3:46:46) – Central bank digital currency
(3:57:59) – Michael Malice
(4:00:12) – Advice for young people
(4:06:21) – Palestine
(4:18:00) – Mortality