My guest this week is Saifedean Ammous, author of the book the Bitcoin Standard. This was one of the more interesting conversations I’ve had in the world of cryptocurrency, primarily because we don’t talk about Bitcoin or Crypto until 25 minutes into the talk. Instead, we focus on history, economics, sound money, low time preference, and gold—all interesting topics.
Saif’s thinking on cryptocurrencies other than bitcoin—which is that they are worthless—is unique and thought provoking. His reasoning around why gold shouldn’t be compared to the returns generated by assets like equities was also compelling. If you’ve followed my Hash Power episodes, this is a new a differentiated interpretation of Bitcoin as a technology for the store of value use case. Please enjoy our conversation.
0:00 – (First Question) – Explain Sound Money
2:15 – Examples of hard vs easy money
5:26 – the even money trap
7:26 – The benefits of hard money vs today’s standards
11:55 – Why this interests him
12:06 – Gold Wars: The Battle Against Sound Money As Seen From A Swiss Perspective
12:46 – Democracy – The God That Failed: The Economics and Politics of Monarchy, Democracy and Natural Order
14:07 – Correlation between time preference and people’s ability to succeed in …
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