The Bitcoin Standard Podcast

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131. Adventures in Late Stage Fiat: Russia with Lana Nagornaia Sep 20, 2022

Show notes

How have Russians dealt with being getting kicked off the fiat dollar network? We are joined by Russian economist and investment advisor Lana Nagornaia to discuss the monetary ramifications of US sanctions from a Russian perspective. Why has the rouble risen versus the dollar in spite of sanctions? Can this be expected to last, or will it reverse? What alternatives are Russians using for trading with the rest of the world? Will Russia switch to a gold standard? Can it trade gold internationally while sanctioned by the global gold market? Can a Chinese-Russian fiat alternative to the dollar succeed? Lana also explains how life in Russia has changed since the outbreak of war, how global energy markets have been affected and how bitcoin could play a role in bringing about a world of sanction-free trade.
References

Lana Invest official website.
Lana on Instagram.
London Bullion Market Association suspends Russian gold and silver refiners.
Moscow Times article on how Russian gold is being rerouted to China.
Al Jazeera article on unofficial ban on Russian gold.
Reuters article on Russians rushing to buy Chinese yuan.
Saifedean’s first book, The Bitcoin Standard.
Saifedean’s second book, The Fiat Standard.

Enjoyed this episode? You can take part in podcast seminars, access Saifedean’s courses – including his ongoing course ECO22: The Fiat Standard – and read chapters of his forthcoming books by becoming a Saifedean.com member. Find out more here.

130. The Fiat Standard: Unwritten Chapters Sep 12, 2022

Show notes

In this seminar, Saifedean discusses ideas for potential chapters he considered for, but did not end up including in The Fiat Standard. The analytical framework of the book, examining the impact of fiat money through the destruction of savings, raising time preference, & allowing endless government finance, can be applied to many topics, and in this seminar Saifedean and the attendees explore some ideas. How does fiat affect medicine and the medical establishment and modern medicine? What is the impact on pharmaceutical drugs? What is the impact on law? How has it affected art?
References

Jörg Guido Hülsmann’s book The Ethics of Money Production.
The Bitcoin Standard Podcast episode with James Todaro on Fiat Medicine.
The Bitcoin Standard Podcast episode with Stephen Chow: Art on The Bitcoin Standard.
Saifedean’s first book, The Bitcoin Standard.
Saifedean’s second book, The Fiat Standard.

129. Bitcoin Venture Capital with Alyse Killeen Sep 06, 2022

Show notes

Managing Partner of Stillmark, Alyse Killeen, joins us to discuss investing in bitcoin companies. She explains why Stillmark invests in "bitcoin only" companies, what she looks for in bitcoin startups and how venture capital in the bitcoin industry differs from traditional markets. She and Saifedean also discuss how bitcoin investing is long-term focused whereas token VCs have a new short-term model taking advantage of clueless retail with false narratives. Alyse explains how this long-term focus protects bitcoin VCs from short-term volatility, such as the recent spate of high-profile failures in the altcoin space. In the Q&A, Alyse answers questions on industry trends, the mindset of bitcoin founders and bitcoin adoption in El Salvador.

References

Alyse on Twitter.
Stillmark official website.
Lightning Labs explainer on Taro.
Article about the sanctioning of Tordano Cash by the US Treasury.
Paolo Ardoino appearance on The Bitcoin Standard Podcast.
Saifedean’s first book, The Bitcoin Standard.
Saifedean’s second book, The Fiat Standard.

128. Low Time Preference Football with Kieran Gibbs Aug 30, 2022

Show notes

Former England international football player Kieran Gibbs joins us to discuss his bitcoin journey, football career, and thoughts on time preference. Find out how he was orange-pilled by team-mate Hal Robson Kanu, why he chose to receive 50% of his salary in bitcoin, how bitcoin has changed him and lowered his time preference, and how he introduces bitcoin to his athlete friends. Kieran also compares playing the low time preference football style of Arsenal's Arsène Wenger with the high time preference style of Sam Allardyce at West Brom, and how Keynesian central banking is analogous to 8 year old playing football. We also compare the economics of the open pyramid structure of the Premier League with the US MLS franchise system. Kieran also discusses how he could integrate bitcoin into his planned football academy, reveals the best players he has played with and against, and provides predictions for the upcoming World Cup.
Resources

Kieran on Twitter.
IMF chair Kristalina Georgieva likens central bankers to eight year olds playing football.
Liverpool draw 4-4 with Arsenal at Anfield in 2008 highlights.
Liverpool beat Arsenal 5-1 in 2018 highlights.
Highlights of Kieran's time at Arsenal
Saifedean’s first book, The Bitcoin Standard.
Saifedean’s second book, The Fiat Standard.

127. Why We Get Sick with Dr Benjamin Bikman Aug 23, 2022

Show notes

Are the world's most common illnesses caused by insulin resistance? In this episode, Dr Benjamin Bikman joins us to discuss his best-selling book “Why We Get Sick”. He argues that insulin resistance is at the heart of the world's most prevalent diseases and that poor economic incentives have caused scientists to neglect this phenomenon to pursue unproductive avenues of research. Dr Bikman explains how insulin resistance impacts conditions ranging from diabetes to Alzheimer’s and offers practical advice for listeners looking to improve their health. He also shares his views on broader issues such as the health impact of seed oils and sun exposure.
References

Dr Bikman on Twitter.
Why We Get Sick on Amazon.
Alan D. Sokal's hoax submission to journal Social Text: "Transgressing the Boundaries: Towards a Transformative Hermeneutics of Quantum Gravity."
Ontario Premier Doug Ford teaches people how to make cheesecake during Canada's lockdowns.
Article showing that data supporting the most commonly held theory of Alzheimer’s disease is fabricated.
The Bitcoin Standard Podcast episode with Nina Teicholz.
The Bitcoin Standard Podcast episode with P.D. Mangan.
Bright Line Eating: The Science of Living Happy, Thin & Free by Susan Thompson.
Saifedean’s first book, The Bitcoin Standard.
Saifedean’s second book, The Fiat Standard.

126. Staying Humble & Stacking Sats with Matt Odell Aug 16, 2022

Show notes

BTC veteran Matt Odell joins us to share his thoughts on the best ways to use bitcoin. We discuss different bitcoin custody options such as trusting third parties, hardware wallets, multisig, and paper wallets, and the advantages and trade-offs involved. What is the case for staying private on bitcoin, and what are the best tools available? What are the most common risks facing bitcoin holders? Will yield products on bitcoin go away or are they coming back? How do you plan for bitcoin inheritance? And much more!
Resources

Matt Odell on Twitter
Matt’s official website with links to his social media and resources.
Matt discusses Lightning and bitcoin privacy on Episode #21 of Citadel Dispatch.
Samourai Wallet website. Information about the Whirlpool here.
Wasabi Wallet website.
The Bitcoin Standard Podcast episode on bitcoin as “dark money” with Giacomo Zucco.
Saifedean and Tone Vays call out problems with Celsius’ business model in 2019.
Saifedean’s first book, The Bitcoin Standard.
Saifedean’s second book, The Fiat Standard.

125. Learning to Code with Amjad Masad Aug 09, 2022

Show notes

Should you learn to code? Is coding for everyone? Can learning to code make you more employable? Does the value of coding decline in a world of artificial intelligence? Do intellectual property laws help advance computer engineering or hold it back? In this episode, Saifedean talks to Amjad Masad: CEO of leading coding platform Replit. They discuss how Amjad’s upbringing in Jordan led him into the world of programming, how he started Replit, how it grew from an open source project to a company valued over $1b, teaching millions to code and build powerful products, and why he turned down a $1b acquisition offer in 2019. Amjad also shares the story of how he discovered bitcoin, how he is integrating it into Replit, and why he thinks programmable money is so important.
References

Amjad on Twitter.
Replit official website.
Amjad tweet on turning down $1bn Replit acquisition offer.
Lightning Developers Kit referenced by Amjad during conversation.
Saifedean’s first book, The Bitcoin Standard.
Saifedean’s second book, The Fiat Standard.

124. Adventures in Late Stage Fiat: CFA Franc with Fodé Diop Aug 02, 2022

Show notes

How did the CFA franc come to be the common currency of 14 West and Central African nations? Who controls it and why did it suddenly lose half of its value in 1994? In this episode, we are joined by software engineer and founder of Bitcoin Developers Academy, Fodé Diop, for a discussion on the fascinating monetary history of West Africa. Fodé explains how the CFA franc has allowed France to maintain economic dominance in West Africa, how the 1994 devaluation affected his family, and why he is supporting bitcoin adoption as means of empowering Africans and increasing financial inclusion. Fodé also explains the work his is doing to support the development of Lightning applications and his plans for the Africa Bitcoin Conference: the first ever bitcoin and Lightning conference in West Africa.

References

Fodé on Twitter.
Bitcoin Developers Academy website.
The Fodé Diop Radio Show.
Fighting Monetary Colonialism with Open-Source Code by Alex Gladstein.
Data on broad money supply growth in Senegal.
The Mobile Wave by Michael Saylor.
Open-source Lightning Dev Kit and Bitcoin Dev Kit.
Africa Bitcoin Conference website (Accra, Dec 7-9).
Shortbits blog
Ben Arc Lightning point of sale page on Github.
Saifedean’s first book, The Bitcoin Standard.
Saifedean’s second book, The Fiat Standard.

123. Adventures in Late Stage Fiat: Libya with Nasr El-Hadi Jul 26, 2022

Show notes

In this seminar, learners at saifedean.com discuss the current state of the fiat monetary system as the world experiences the dollar strengthening and other fiat currencies weakening. Regular seminar attendee Nasr El-Hadi discusses the history and the current state of the Libyan monetary system, where the central bank has split into two central banks each issuing the same currency with a different signature, with hilarious and disastrous consequences. Find out what happens when fiat 'hard forks', and how bitcoin and stablecoins are serving as a lifeline for Libyans who have no functioning monetary or banking system in this incredible adventure in Late Stage Fiat! Nasr El-Hadi is a Libyan bitcoiner living in London, and his twitter is @NasrElhadi.

122. Can bitcoin fix renewables? With Dan Roberts Jul 18, 2022

Show notes

In this episode, CEO of bitcoin mining company Iris Energy Dan Roberts joins us to discuss whether bitcoin can (and should) help fix renewable energy. Dan explains the problems that intermittent wind and solar energy create for power grids, and how his company works to solve them through bitcoin mining. He and Saifedean discuss whether grids would be better off only using reliable energy sources, how bitcoin’s difficulty adjustment forces miners to become more efficient, and why Iris Energy has chosen to mine bitcoin only. Dan also shares his views on why bitcoin’s game theoretic nature means it is set up to survive and why 51% attacks don’t represent a credible threat to the network’s security.
Resources

Iris Energy website.
Iris Energy on Twitter
Iris Energy on LinkedIn
Article on recent blackouts with Texas and link to intermittent energy.
Related episode on the future of bitcoin mining and hydropower with Ben Gagnon.
Climate-related episodes with Tom Nelson, Alex Epstein and Patrick Moore.
Article by Jimmy Song explaining why the threat of a 51% attack on bitcoin is overblown.
Saifedean’s first book, The Bitcoin Standard.
Saifedean’s second book, The Fiat Standard.

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