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/
OUTLINE 00:00:00 “What is Money?” Intro 00:00:08 Some Reflections on The Bank of England 00:05:11 Bitcoin as “The Ultimate Land Grab” 00:09:46 Stock-to-Flow Ratios and the Contradiction of a Gold Standard 00:15:58 England’s Subjugation of India through Force and Money 00:20:20 Hashes per Kilowatt Hour per Sat: The Most Stable Metric 00:29:00 The Human Obsession with Automaticity 00:33:21 A Potential Weakness in Bitcoin: Rule Changes 00:34:27 NYDIG 00:35:35 The Key to Sustainable Social Institutions: Resistance to Rule Changes 00:41:34 The Weaponization of Inflation and Deflation 00:45:36 Real Price Deflation and the Future of Employment 00:49:29 Bitcoin Incentivizes You to Improve the Intelligence of Others 00:53:00 Gold as a “Pre-Commitment Mechanism” 00:56:00 Bitcoin as the Ultimate Ulysses Contract 01:00:24 How the Gold Standard Directly Incentivizes War 01:02:43 There are Only Two Ways to Resolve Disputes: Contract and Conflict