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The Bitcoin Standard Podcast
105 minutes | Jul 30, 2021
73. Bitcoin and Time with Gigi
In this episode Saifedean talks to software developer and author Gigi. They start by talking about Gigi’s book 21 Lessons: What I've Learned from Falling Down the Bitcoin Rabbit Hole, and why Gigi’s most important lesson is “you will not change bitcoin, but bitcoin will change you”. They move on to discuss the relationship between bitcoin and time. They cover how bitcoin solved the problem of reaching decentralized agreement on time and how bitcoin, as an unparalleled savings technology, serves to lower human time preference. The Q&A touches on topics such as the mind-boggling security of the SHA256 cryptographic hash function and threats to bitcoin’s future.
56 minutes | Jul 23, 2021
Guest Episode: Mises Institute with Jeff Deist: The Fiat Standard
Saifedean appearance on The Human Action podcast, hosted by Jeff Deist, President of Mises Institute. Quoted from the original description:Saifedean Ammous, famous for The Bitcoin Standard, has a remarkable new book detailing the effects of fiat money on virtually every aspect of society. In the tradition of Guido Hülsmann's The Ethics of Money Production, Ammous returns with The Fiat Standard. From a framework of Austrian economics, this book explains the sordid history of central banks severing currencies from gold redemption—both to finance war and enjoy the political benefits of default. But it also considers the far-ranging effects of inflation on civilization: as time preference increases, everything gets worse. Education, food, architecture, family, and science all suffer, as inflation makes us live today at the expense of tomorrow.On the 50th anniversary of Nixon's gold shock, The Fiat Standard is an amazing explication of how the West fell to its current state. You don't want to miss this show, especially Saifedean's epic takedown of fiat academia at the end!
87 minutes | Jul 21, 2021
72. Thank God for Bitcoin with Jimmy Song
In this episode Saifedean talks to bitcoin developer and author Jimmy Song about programming and Jimmy’s new book Thank God for Bitcoin, which explores bitcoin from a Christian perspective. They discuss how Jimmy’s Python coding skills helped him to get a job at a bitcoin company in 2013, and what benefits learning to code can bring to bitcoiners. In their discussion of Thank God for Bitcoin they cover how money affects our morality and time preference. They tackle questions such as whether it is ethical to go into debt, whether Western civilisation started to decline after going off the gold standard, and whether Karl Marx was inspired by the character of the devil in Goethe’s Faust.
71 minutes | Jul 18, 2021
Guest Episode: Power Hour w/ Alex Epstein
Saifedean's interview on Power Hour, hosted by Alex Epstein, author of The Moral Case for Fossil Fuels, about how systematic government control--"fiat"--wreaks havoc in the realms, not just of currency, but of science, education, and energy.They cover:- How government control in the realm of ideas is treated as benign but is in fact incredibly dangerous.- The myth that leading universities such as Harvard, Yale, and Stanford are "private."- What freedom of scientific inquiry looks like, and how it gave birth to the modern world.- Why much of today's "modeling" would not exist in a free market.- How the moral case for fossil fuels is taking hold in the Bitcoin community.
106 minutes | Jul 15, 2021
71. Fiat Nutrition with Nina Teicholz
In this episode we host author Nina Teicholz to discuss healthy eating and the sorry state of fiat nutrition science. We begin with the corrupt scientific establishment’s treatment of Mary Enig, John Yudkin, and other great scholars who went against the dogma promoted by industrial food manufacturers. We further discuss dietary guidelines, why they came about, and how disastrously effective they have been at getting people the world over to abandon the foods of their ancestors in favor of the heavily-marketed highly-profitable industrial waste. We discuss the work of Ancel Keys, nutrition’s equivalent of John Maynard Keynes, who disfigured nutrition science for decades, popularized a fictitious Mediterranean diet, and strengthened the crusade against meat, eggs, animal fat, and cholesterol. As the nutrition science establishment has remained wedded to the nonsensical diet-heart hypothesis even after decades of contrary evidence, we discuss how fiat funding disfigures the scientific process and prevents it from self-correcting, and why bitcoin can fix this, too. We conclude with discussing Nina’s Nutrition Coalition and the commendable work they are doing to counter establishment nutrition science, and we convince her to start accepting bitcoin donations!
85 minutes | Jul 13, 2021
70. The Future of Bitcoin Mining with Ben Gagnon
In this episode Saifedean talks to Ben Gagnon, Chief Mining Officer at Bifarms, a Canadian bitcoin mining company that accounts for 1-2% of global hash power. Ben tells the story of how he became involved in bitcoin after missing an opportunity to buy 100 bitcoin for $70 in 2010. He and Saifedean discuss when it makes sense for people and companies to mine bitcoin, whether it’s a good idea to invest in bitcoin mining companies, and how events such as China’s recent mining clampdown will affect the future of the industry.
59 minutes | Jul 9, 2021
69. The Bitcoin Machine
In this episode Saifedean talks to regular seminar attendees about why bitcoin operates like a machine. They discuss why – like a washing machine – bitcoin continues to serve people who use it regardless of whether they understand the mechanics of how it works, why bitcoin’s critics are analogous to luddites, and why money should be understood as a private market good, rather than a public good.
93 minutes | Jul 1, 2021
67. Fake Invisible Catastrophes with Patrick Moore
In this episode Saifedean talks to Greenpeace co-founder and “drop out” Dr Patrick Moore about the misperceptions and hysteria surrounding climate change. They discuss the anti-human philosophy of modern environmentalist movements, the limitations of computer modelling as a means of making long-term climate forecasts and why there’s a case for actually increasing rather than decreasing human CO2 emissions. Saifedean and Patrick also touch on broader topics covered in Patrick’s book Fake Invisible Catastrophes and Threats of Doom including ocean plastic, ocean acidification and endangered polar bears.
112 minutes | Jun 27, 2021
66. The Bullish Case for Bitcoin with Vijay Boyapati
In this episode Saifedean is joined by Vijay Boyapati, author of one of the most widely known articles for bitcoin beginners: The Bullish Case for Bitcoin. In this wide-ranging discussion Saifedean and Vijay analyse bitcoin’s rise through their shared framework of the Austrian School of Economics. They discuss Vijay’s four frameworks for valuing bitcoin, how technology “hype cycles” can help us understand bitcoin’s price movements and why fiat economists like Paul Krugman are so keen to undermine bitcoin’s success.
80 minutes | Jun 23, 2021
65. Fiat Farming with Joel from Untapped Growth
In this week’s podcast Saifedean is joined by Joel, a bitcoiner from Virginia-based regenerative farming business Untapped Growth. Joel explains the damage done to soil by modern agriculture, and how it has its roots in rising time preference and increased short-termism fostered by inflationary monetary policy and government interventions in the food and land markets. Joel explains why low time preference regenerative cattle grazing can fix soil, and how many farmers in America are switching to this model. Related links: Untapped Growth’s website Dirt: The Erosion of Civilizations by David R. Montgomery Website of The Savory Institute TED talk by Allan Savory Buy The Fiat Standard via Saifedean.com
71 minutes | Jun 20, 2021
64. Fiat economic models
This seminar discusses the problems of economic modeling, using examples from environmental, energy, and macro economics. Saifedean explains how his graduate school experience trying to model energy markets led him to appreciate Mises' calculation problem and the problems of complex quantitative predictive models. What are the problems with attempting to quantify economic and environmental impacts of different fuels? Are the models being applied to bitcoin mining useful? As these absurd models bring fear-mongering to bitcoin mining, will they change bitcoin, or will their flimsy foundations be exposed by the kind of people who like to use a technology built on 100% verification and 0% trust? Links referenced: The Skeptical Environmentalist by Bjorn Lomborg Bjorn Lomborg on Twitter: @BjornLomborg The Bitcoin Standard Podcast episode Allen Farringdon’s Adventures with Fiat Intellectuals Dynamic stochastic general equilibrium modelling on the short-term impact of a vote to leave the European Union by HM Treasury Article explaining forecast failures by the Spectator
56 minutes | Jun 16, 2021
63. Bitcoin efficiency and cost-benefit analysis
We often hear bitcoin is a waste, but rarely will someone present a full accounting of all the costs and the benefits associated with bitcoin. In this seminar, based on a chapter from upcoming The Fiat Standard, Saifedean attempts a full accounting of the costs that go into making bitcoin work, from electricity to infrastructure, and compares them to the benefits bitcoin provides: appreciating savings, money transfer, and most importantly, obsoleting fiat money, with its massive costs. We estimate fiat inflation costs the world around 2.5% of global wealth per year, and has incalculable costs with rising time preference, economic distortion, activist government, and conflict. We also discuss how to best think about bitcoin's efficiency, and why it can be approximated by the stock-to-flow ratio! Links referenced: The Bitcoin Standard podcast episode on stock to flow: https://saifedean.com/podcast/33-stock-to-flow-a-deeper-look/ The Bitcoin Standard podcast episode on CPI: https://saifedean.com/podcast/52-what-is-cpi-good-for/
62 minutes | Jun 13, 2021
62. El Salvador on The Bitcoin Standard
In this episode Saifedean talks to regular seminar attendees about El Salvador’s recent adoption of bitcoin as legal tender. They discuss how this is a test of the importance of legal tender laws for monetary choice, and the drawbacks of legal tender laws. Will this hasten bitcoin's adoption in daily transactions? Or will it encourage hodling? What impact would wider use of bitcoin have on El Salvador’s exports? Why are governments without their own currencies more likely to adopt bitcoin? Can bitcoin inspire a populist anti-inflationist political movement in Latin America? They also touched on recent media reports about recovery of bitcoin from colonial pipeline hackers. Related links: Jack Mallers talk at Bitcoin 2021 conference during which president Nayib Bukele announces bitcoin will become legal tender in El Salvador: https://youtu.be/_59hrgTiRJU Jordan Schachtel article on colonial pipeline hack: https://dossier.substack.com/p/the-colonial-pipeline-hack-the-russians
79 minutes | Jun 1, 2021
60. Bitcoin and the Rise of Central Bank Digital Currencies with Simon Dixon
In this episode Saifedean talks to Bitcoin Angel investor Simon Dixon about central bank digital currencies and Bitcoin in the context of today’s economy. They cover why CBDCs represent a radical monetary reform that would give governments unprecedented surveillance power, how the IMF is struggling to find relevance, why Bitcoin represents a lifeboat during times of uncertainty, and why we’re living in the most exciting time in financial history. Resources Simon’s Emergency Broadcast - IMF calls for Bretton Woods Monetary Renegotiation As Predicted https://youtu.be/enmHW4gCkAY Simon’s website: https://app.bnktothefuture.com/about IMF Announcement of New Bretton Woods Moment: https://www.imf.org/en/News/Articles/2020/10/15/sp101520-a-new-bretton-woods-moment Bank of England Bank Charter Act of 1844: https://web.archive.org/web/20101203090327/http://www.bankofengland.co.uk/about/legislation/1844act.pdf
83 minutes | May 27, 2021
59. Bitcoin: The Most Islamic Form of Money? with Harris Irfan
In today’s episode Saifedean talks to former investment banker and author of Heaven’s Bankers, Harris Irfan. They discuss Harris’ decades of experiences in Islamic finance and what sparked his interest in bitcoin as a Muslim. Harris explains why bitcoin might be the most sharia-compatible money, why the decentralized nature of bitcoin should be appealing to Muslims, and what Islamic scholars get wrong about bitcoin. We then discuss whether a hard free market money like bitcoin would make finance more equity-based than debt-based. Links: Harris’ book Heaven’s Bankers: https://amzn.to/3wtxRVz Harris’ personal blog: https://islamicmarkets.com/pages/heavens-bankers Harris’ 2019 article, Cryptocurrency and the Future of the Islamic Economy: https://islamicmarkets.com/articles/cryptocurrency-and-the-future-of-the-islamic-economy-1
82 minutes | May 24, 2021
58. Taxation, Bitcoin and the State with Dominic Frisby
In this episode Saifedean talks to libertarian author and comedian Dominic Frisby about the history of taxation, the rise of Bitcoin and whether we are moving towards a more or less statist world. They cover the story of how Dominic first found out about Bitcoin in December 2010, how voluntary taxation worked in ancient Greece, the rise of digital nomads, and whether land value tax represents the “least bad tax”. Links National Debt Clock of the United States: https://www.usdebtclock.org/ Dominic’s song about Brexit: https://youtu.be/f2zJ8vaB5jo Dominic’s books Daylight Robbery: How Tax Shaped Our Past and Will Change Our Future: https://amzn.to/3woT5ns Bitcoin: The Future of Money? https://amzn.to/2ScOw12 Life After the State: https://amzn.to/3v08Ot3 Books referenced by Dominic For Good and Evil: The Impact Of Taxes On The Course Of Civilization by Charles Adams: https://amzn.to/3hCO07b The Sovereign Individual by James Dale Davidson and Lord William Rees-Mogg: https://bit.ly/3hGRQMo Why We Eat Too Much by Dr Andrew Jenkinson: https://amzn.to/3v9KjtE
60 minutes | May 20, 2021
57. Elon Musk: The Fiat Rockefeller
In this episode Saifedean talks to regular seminar attendees about Elon Musk’s recent bitcoin comments, and what they teach us about him & his business empire. Saifedean compares Elon Musk to John D. Rockefeller – both the richest men in the world in their eras – and discusses the extent to which their innovations have had an impact on the lives of everyday people, to give us an idea of how fiat alters society. To become the richest man in the world, Rockefeller built the modern industrial world, transforming the lives of billions, while Musk traded carbon credits & received subsidies to unprofitably build a few toy cars for the rich.
117 minutes | May 17, 2021
56. Free Private Cities and Bitcoin with Rahim Taghizadegan
In this episode Saifedean talks to Rahim Taghizadegan, the president of the Free Private Cities Foundation, and one of the few Austrian School economists still operating in Austria. They discuss the history of the Austrian School, the problems of modern fiat academia and why Rahim sees Bitcoin as an essential part of the monetary infrastructure that would support Free Private Cities. Resources The Raven of Zurich: The Memoirs of Felix Somary: https://www.amazon.co.uk/Raven-Zurich-Memoirs-Felix-Somary/dp/0312664079 Free Private Cities official website: https://www.freeprivatecities.com/en/ Titus Gebel’s book, Free Private Cities: Making Governments Compete for You: https://www.amazon.co.uk/Free-Private-Cities-Governments-Compete/dp/1724391380 Institut Scholarium website (German Language only): https://scholarium.at/
57 minutes | May 12, 2021
55. Is easy money good for exports?
In today’s seminar Saifedean talks to regular attendees about whether increasing a nation’s exports should be seen as a desirable policy goal, and why countries that devalue their currencies don’t necessarily export more. The discussion focusses on the post-war experience of Germany and Switzerland and how these countries grew prosperous through maintenance of a strong currency. Books referenced during the discussion include: Gold Wars: The Battle Against Sound Money as Seen From a Swiss Perspective by Ferdinand Lips: https://amzn.to/33Akfve For a discussion of Ludwig Erhard’s market reforms see: The Commanding Heights: The Battle for the World Economy by Daniel Yergin and Joseph Stanislaw: https://amzn.to/3f7Rlbl
103 minutes | May 9, 2021
54. Bitcoin and the Global Economy with Lyn Alden
In this podcast Saifedean and Lyn discuss Bitcoin and trends taking place in the macroeconomy. Lyn starts by giving her view on the investment case for Bitcoin, PlanB’s Stock to Flow model, and whether Bitcoin can be characterized as a Ponzi scheme. They then move on to discuss global macroeconomic conditions and why Bitcoin represents a more attractive investment in a world where fiat currency supply expansion is accelerating. They touch on long-term debt cycles, 1970s stagflation, CBDCs and whether we should expect high inflation during the 2020s. Articles by Lyn that were referenced in the conversation include: 3 Reasons I’m Investing in Bitcoin: https://bit.ly/3xO6uqS Bitcoin: Addressing the Ponzi Scheme Characterization: https://bit.ly/3f25FC6 A Century of Fiscal and Monetary Policy: Inflation vs Deflation: https://bit.ly/3b71dRn Bitcoin: Fee-Based Security Modeling: https://bit.ly/2QRpdkU See PlanB’s website for information on the Stock to Flow model: https://100trillionusd.github.io/
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