TRIGGERnometry Money & Crypto for Dummies with Saifdean Ammous
Apr 11, 2022
Saifdean Ammous, a leading Bitcoin researcher and author of 'The Bitcoin Standard', shares his insights on the evolution of money, emphasizing the shift from gold to fiat currencies and the consequences of inflation. He discusses Bitcoin's potential as a hedge against government control and currency devaluation. The conversation delves into Bitcoin's impact on real estate and the regulatory landscape surrounding cryptocurrencies. Ammous reflects on his journey into the crypto world and critiques societal perceptions of wealth and investment.
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Money's True Function
- Money's primary function is as a medium of exchange, not for its inherent value.
- Saifdean Ammous emphasizes that good money evolves naturally due to practicality, not subjective preference.
Gold's Monetary Hardness
- Gold's scarcity and resistance to corrosion make it historically reliable as money.
- Monetary hardness, or the ability to retain value over time, is the most important property of good money.
Gold Standard's Significance
- The gold standard, where currencies were linked to gold, was a pinnacle of civilization.
- It allowed for easy saving and eliminated the need for complex financial knowledge.
