Introduction

Saifedean Ammous is an economist and the author of The Bitcoin Standard: The Decentralized Alternative to Central Banking, which has been translated into 20 languages. In this episode, he discusses:

• the basic tenets of Austrian economics and why it is the only school where Bitcoin is possible
• historical examples of currencies and how they lost their monetary value
• the stock-to-flow model and how Bitcoin fits into that model
• the three functions, or descriptive properties, of money and why Bitcoin fulfills these functions
• the concept of sound money
• the idea of time preference in economics and why he believes it is so important
• the distinction between debt and money, and why they are not the same
• the significance of difficulty adjustment and why he believes it is the crowning achievement of Bitcoin
• why he views Bitcoin as the best store of value humanity has ever invented
  the metrics he watches when assessing Bitcoin
• what he thinks is in store for Bitcoin in the future, and whether he still thinks central banks will buy Bitcoin as a reserve currency
• his thoughts on Ethereum and other digital currencies
  and his predictions for Bitcoin in the next year

THE BITCOIN STANDARD TOOLKIT/SPONSORS

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