103 minutes | Sep 29th 2020

Why Bitcoin Now: Andreas Antonopoulos and Dan Held on Bitcoin’s Monetary Policy - Ep.192

Andreas M. Antonopoulos, speaker, educator, and the author of Mastering Bitcoin, Mastering Ethereum, and The Internet of Money, Volumes 1, 2, and 3, and Dan Held,  growth lead at Kraken Digital Asset Exchange, discuss the core features of Bitcoin's monetary policy, including how it differs from traditional central bank monetary policy, what gives it value and yet how it seems to have derived value from thin air. Plus, we talk about how the coronavirus pandemic will affect Bitcoin. In this episode, we cover:

  • how monetary policy in general is defined
  • the core feature of Bitcoin’s monetary policy, and how it differs from previous forms of money
  • the similarities and differences between Bitcoin and gold
  • why the hard cap on Bitcoin is unique and so important
  • the difficulties in analyzing and classifying Bitcoin
  • whether or not transaction fees alone can sustain the network once all 21 million Bitcoin have been minted
  • if Bitcoin will be able to fulfill its original vision of democratizing finance and serving as an everyday medium of exchange
  • why they think Bitcoin has recently been more correlated with the stock market
  • their thoughts on the stock to flow model and whether it works for Bitcoin
  • how they think the coronavirus, unprecedented quantitative easing, and increasing inflation will impact Bitcoin’s adoption and price
  • how crypto banks that don’t conduct fractional reserve banking or lending might change the economy

 

Thank you to our sponsors! 

Crypto.com: http://crypto.com

Gods Unchained: https://playgu.co/unchainedpod

 

Episode links: 

Andreas Antonopoulos: https://aantonop.com

On Twitter: https://twitter.com/aantonop

YouTube: https://www.youtube.com/c/aantonop/

Dan Held: https://www.danheld.com

On Twitter: https://twitter.com/danheld

 

Dan Held on Bitcoin's monetary policy: https://medium.com/the-bitcoin-times/information-theory-of-money-36247aebdfe1

 

Dan Held on Bitcoin's security model: https://www.danheld.com/blog/2019/6/16/bitcoins-security-is-fine

 

Unchained interview with Saifedeam Ammous: https://unchainedpodcast.com/why-bitcoin-now-saifedean-ammous-on-why-bitcoin-is-the-most-advanced-form-of-money/

 

Mises’ Regression Theorem: https://mises.org/library/bitcoin-regression-theorem-and-emergence-new-medium-exchange

 

Stock to flow model: https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25

 

https://medium.com/@100trillionUSD/bitcoin-stock-to-flow-cross-asset-model-50d260feed12

 

Why the stock-to-flow model is wrong: https://www.coindesk.com/why-the-stock-to-flow-bitcoin-valuation-model-is-wrong

 

Federal Reserve announcement about letting inflation run higher than normal to achieve a 2% target rate of inflation: https://www.federalreserve.gov/newsevents/pressreleases/monetary20200827a.htm

Kraken launching the first crypto bank: https://unchainedpodcast.com/the-first-crypto-bank-what-kraken-financial-will-do-and-how/

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