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Blockchain technology is about to transform every trust-based interaction of our lives, from financial services to identity, from health care to our Internet of Things devices. In this podcast, host Laura Shin talks with industry pioneers across tech, financial services, health care, government and other sectors about how the blockchain and cryptocurrency will open up new opportunities for incumbents, startups and everyday people to interact more efficiently, directly and globally.

Sep 29, 2020

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!

Gods Unchained:


Episode links: 

Andreas Antonopoulos:

On Twitter:


Dan Held:

On Twitter:


Dan Held on Bitcoin's monetary policy:


Dan Held on Bitcoin's security model:


Unchained interview with Saifedeam Ammous:


Mises’ Regression Theorem:


Stock to flow model:


Why the stock-to-flow model is wrong:


Federal Reserve announcement about letting inflation run higher than normal to achieve a 2% target rate of inflation:

Kraken launching the first crypto bank: