The Bitcoin Standard Podcast

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91. The Immaculate Conception: Bitcoin vs The Fiat Standard Nov 17, 2021

Show notes

In this episode, Saifedean talks to author and public intellectual Jordan Peterson about how bitcoin solves the problems of The Fiat Standard. Saifedean starts by introducing the Austrian School of Economics, its key concepts such as “opportunity cost”, and how it differs from alternative schools. Saifedean and Jordan then move on to a discussion of the civilizing impact of hard money, why bitcoin is different from other cryptocurrencies, and why bitcoin mining changes the dynamics of the global energy market. Finally, they discuss their experiences working in fiat academia and why online learning is making the traditional university obsolete.

Resources

Principles of Economics by Carl Menger, the foundational text of the Austrian School of Economics
Ludwig von Mises’ magnum opus Human Action
The Use of Knowledge in Society by F.A. Hayek for a discussion of economic calculation within an Austrian framework
Bitcoin Does Not Waste Energy by Parker Lewis for a discussion of the energy used by bitcoin mining
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 and read chapters of his forthcoming books by becoming a Saifedean.com member. Find out more here.
THE BITCOIN STANDARD TOOLKIT/SPONSORS

NYDIG - https://nydig.com

Cyphersafe - https://cyphersafe.io/

OKCoin - https://okcoin.com/

Nodl - https://www.nodl.it/

Coldcard - https://coldcardwallet.com/

CoinBits App - https://coinbitsapp.com/

90. Climate Hysteria with Alex Epstein Nov 15, 2021

Show notes

In this episode Saifedean invites back philosopher and energy expert Alex Epstein to talk about climate hysteria and the energy issues facing the world today. They discuss the ongoing COP26 talks in Glasgow and why those setting its agenda are driven by an anti-human philosophy. They also talk about emerging power shortages around the world and why these are caused by a government-led push towards unreliable energy. Alex explains why being opposed to human impact on the environment is equivalent to being anti-development, and why restricting the use of coal hits the world’s poorest the hardest. In the Q&A, Alex answers questions on the gas shortages in Europe, scientific consensus on climate change and how to stay calm in the face of irrationality.

Resources

Alex’s first book The Moral Case for Fossil Fuels
Alex’s upcoming book Fossil Future
A Question of Power: Electricity and the Wealth of Nations by Robert Bryce
Three billion people use less electricity than the average American fridge.
18 spectacularly wrong climate predictions from the 1970s, including several made by Paul Ehrlich.
Alex’s Power Hour discussion with Richard Tol.
Subscribe to Alex’s Substack “Energy Talking Points”
Alex’s Congressional Testimony, May 19, 2021
Alex eviscerates COP26 on GB News
Saifedean’s first book, The Bitcoin Standard
Saifedean’s second book, The Fiat Standard

NYDIG - https://nydig.com

Cyphersafe - https://cyphersafe.io/

OKCoin - https://okcoin.com/

Nodl - https://www.nodl.it/

Coldcard - https://coldcardwallet.com/

CoinBits App - https://coinbitsapp.com/

89. Disrupting the global payments industry with Jack Mallers Nov 11, 2021

Show notes

In this episode Saifedean talks to Jack Mallers, CEO of Strike, about how the Lightning Network is disrupting the global payments industry. Jack explains how international remittances work, why they are so costly and why the industry cannot compete with Lightning-based solutions. He and Saifedean then discuss how bitcoin is helping El Salvadorians transition from using cash to using bitcoin, whilst bypassing commercial banks. They also cover Jack’s role in helping to introduce Lightning tips to Twitter and Strike’s new “Pay Me in Bitcoin” application. In the Q&A, Jack takes questions on Strike’s expansion into Europe, who he would most like to “orange pill”, and which countries are likely to make bitcoin legal tender next.

Resources

Jack’s Medium post Announcing the Strike API
Jack’s Medium post Pay Me in Bitcoin
Jack’s Medium post Announcing Strike Global
Explainer on LNURL for Lightning Wallets
Chivo Wallet, referenced by Jack
Saifedean’s book The Bitcoin Standard
Saifedean’s book The Fiat Standard

NYDIG - https://nydig.com

Cyphersafe - https://cyphersafe.io/

OKCoin - https://okcoin.com/

Nodl - https://www.nodl.it/

Coldcard - https://coldcardwallet.com/

CoinBits App - https://coinbitsapp.com/

88. Is bitcoin good money? A debate with Paul Frijters Nov 07, 2021

Show notes

In this episode Saifedean invites back Professor Paul Frijters of the London School of Economics to debate whether bitcoin is a good form of money. Saifedean makes the case for money as a market phenomenon, and argues that bitcoin has the scarcity, divisibility, fungibility and transportability that humans have historically valued in monies. Paul questions whether bitcoin mining is a zero-sum game and whether the fact that people hold bitcoin really demonstrates it has value. The debate touches on the demonetization of silver in China, the scarcity of land, and whether government force is legitimate at all.

Resources

Nick Szabo’s article Shelling Out for an account of the historical emergence of money.
When Money Dies by Adam Fergusson
When Money Destroys Nations by Russell Lamberti and Philip Haslam
The Ethics of Liberty by Murray Rothbard
The Great Cholesterol Con by Malcolm Kendrick
The Big Fat Surprise by Nina Teicholz, for further discussion of cholesterol
Paul’s article Why Blockchain has no economic future
Paul’s textbook A Handbook for Wellbeing Policy-Making: History, Theory, Measurement, Implementation, and Examples.
Saifedean’s first book, The Bitcoin Standard
Saifedean’s second book, The Fiat Standard

NYDIG - https://nydig.com

Cyphersafe - https://cyphersafe.io/

OKCoin - https://okcoin.com/

Nodl - https://www.nodl.it/

Coldcard - https://coldcardwallet.com/

CoinBits App - https://coinbitsapp.com/

87. The Great Covid Panic with Paul Frijters Oct 31, 2021

Show notes

In this episode, Saifedean talks to London School of Economics Professor Paul Frijters about his book The Great Covid Panic. They talk about the role played by epidemiologists like Neil Fergusson in encouraging governments to pursue extreme lockdowns, and why mainstream economists failed to properly evaluate the opportunity costs of this policy. They discuss the damage lockdowns have caused and how societies were driven by crowd mentality to engage in largely ineffectual “Covid theatre” such as mask wearing and hand sanitising. At the end of the episode, Paul takes questions from seminar attendees about Sweden’s Covid response, vaccine mandates and what lessons can be learned from the Covid panic.

Resources

Paul’s book The Great Covid Panic on Amazon.
List of Neil Fergusson’s failed predictions.
Saifedean’s Twitter thread on Belarus.
BBC article on the environmental impact of disposable masks.
Article on the psychological impact of social isolation caused by lockdowns.
Julian Simon’s book The Ultimate Resource 2.
Extraordinary Popular Delusions and the Madness of Crowds by Charles MacKay.
Paul’s article on historical analogies for Covid-mania
Paul’s article on why empirical sciences failed in times of Covid.

Enjoyed this episode? You can take part in podcast seminars, access Saifedean’s courses and read chapters of his forthcoming books by becoming a Saifedean.com member. Find out more here.

THE BITCOIN STANDARD TOOLKIT/SPONSORS

NYDIG - https://nydig.com

Cyphersafe - https://cyphersafe.io/

OKCoin - https://okcoin.com/

Nodl - https://www.nodl.it/

Coldcard - https://coldcardwallet.com/

CoinBits App - https://coinbitsapp.com/

86. Layered Money with Nik Bhatia Oct 22, 2021

Show notes

In this episode Saifedean talks to Nik Bhatia, author of Layered Money. They begin by discussing Nik’s first essays on bitcoin, The Time Value of Bitcoin and The Lightning Network Reference Rate, and why Nik thinks “Lightning banks” are on their way. They move on to talk about Nik’s book, starting with an overview of how “layered money” developed on top of gold through financial institutions, and how this eventually culminated in the emergence of a pure fiat financial system. Nik and Saifedean also discuss money as it exists today, including the role of central banks and the eurodollar system. They end with a discussion of what the financial system of the future will look like, including why Nik is confident that both bitcoin and the US dollar will continue to exist throughout his lifetime, and why we should be concerned about the rise of CBDCs.

Resources

Nik’s 2018 essay The Time Value of Bitcoin.
Nik’s 2019 essay The Lightning Network Reference Rate.
Nik’s book Layered Money on Amazon.
Explanation of the Bretton Woods System on Mises Wiki.
Bank of International Settlements paper on the Triffin Dilemma, referenced in Layered Money.
Bank of International Settlements paper on Central Bank Digital Currencies, referenced in Layered Money.
1971 paper by Federal Reserve Bank of St Louis, The Euro-dollar Market: Some First Principles, referenced in Layered Money.

Enjoyed this episode? You can take part in podcast seminars, access Saifedean’s courses and read chapters of his forthcoming books by becoming a Saifedean.com member. Find out more here.

THE BITCOIN STANDARD TOOLKIT/SPONSORS

NYDIG - https://nydig.com

Cyphersafe - https://cyphersafe.io/

OKCoin - https://okcoin.com/

Nodl - https://www.nodl.it/

Coldcard - https://coldcardwallet.com/

CoinBits App - https://coinbitsapp.com/

84. Hard money and time preference: Lecture at the Property & Freedom Society Oct 13, 2021

Show notes

Lecture delivered on Sept 17, 2021, to the Property and Freedom Society in Bodrum, Turkey, at the invitation of Professor Hans Hermann Hoppe. In this lecture, Saifedean discusses the relationship between time and preference and hard money. Saifedean argues that the ability to hold a form of money that holds its value into the future reduces the uncertainty surrounding the future, leading to less discounting of the future and thus a lower time preference. The lowering of time preference is what allows for the process of civilization to take place, with increasing capital accumulation, rising productivity, and improving living standards. Drawing on his research into the gold standard, the fiat standard, and the bitcoin standard, Saifedean illustrates several societal and economic trends which illustrate this relationship.

Watch Video presentation on Youtube.
THE BITCOIN STANDARD TOOLKIT/SPONSORS

NYDIG - https://nydig.com

Cyphersafe - https://cyphersafe.io/

OKCoin - https://okcoin.com/

Nodl - https://www.nodl.it/

Coldcard - https://coldcardwallet.com/

CoinBits App - https://coinbitsapp.com/

83. Bitcoin Maximalism, Altcoins and Satoshi with Pete Rizzo Oct 07, 2021

Show notes

October 4th 2021.

In this episode Saifedean talks to bitcoin journalist Pete Rizzo about bitcoin maximalism, altcoins and Satoshi. They discuss objectivity in journalism, what constitutes a “neutral” stance on altcoins for journalists, and how bitcoin differentiates itself from other cryptocurrencies through its high degree of decentralization. They also discuss the role that Satoshi and his disappearance had in shaping today's bitcoin, and whether Satoshi was motivated by studying Austrian economics. They also discuss the late Mircea Popescu's underrated role in articulating and demonstrating bitcoin's immutability, resistance to capture, and sovereignty. In the Q&A session, Pete answers questions about potential attack vectors for bitcoin and explains his views on the likelihood of hyperbitcoinization.

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