We Study Billionaires - The Investor’s Podcast Network TIP259: What Bitcoin Solves - w/ Dr. Saifedean Ammous
Sep 7, 2019
In this discussion, Dr. Saifedean Ammous, a leading Bitcoin expert and author of 'The Bitcoin Standard,' delves into Bitcoin's transformative potential. He highlights how increased demand enhances Bitcoin's security and long-term investment practices. Dr. Ammous argues that the structure of central banks will maintain fiat currency relevance, yet emphasizes that only Bitcoin can sustain its unique status. He also tackles the energy debate around Bitcoin mining, predicting a shift away from fossil fuels and asserting Bitcoin's resilience compared to altcoins.
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Bitcoin's Nature
- Bitcoin is a free-market product, a neutral internet protocol for transferring value.
- It introduces cash to the digital world, enabling final settlement similar to physical cash.
Sound Money
- Money is essential for a market economy, acting as its coordinating mechanism and information system.
- Sound money, emerging from the free market, accurately reflects market conditions.
Time Preference
- Money as a store of value influences time preference, impacting long-term thinking and civilization.
- Manipulating money distorts price signals, causing economic problems like inflation and unemployment.
