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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.

Aug 25, 2020

Saifedean Ammous is an economist and the author of The Bitcoin Standard: The Decentralized Alternative to Central Banking, which has been translated into 20 languages. In this episode, he discusses:

  • the basic tenets of Austrian economics and why it is the only school where Bitcoin is possible
  • historical examples of currencies and how they lost their monetary value
  • the stock-to-flow model and how Bitcoin fits into that model
  • the three functions, or descriptive properties, of money and why Bitcoin fulfills these functions
  • the concept of sound money
  • the idea of time preference in economics and why he believes it is so important
  • the distinction between debt and money, and why they are not the same
  • the significance of difficulty adjustment and why he believes it is the crowning achievement of Bitcoin
  • why he views Bitcoin as the best store of value humanity has ever invented
  • the metrics he watches when assessing Bitcoin
  • what he thinks is in store for Bitcoin in the future, and whether he still thinks central banks will buy Bitcoin as a reserve currency
  • his thoughts on Ethereum and other digital currencies
  • and his predictions for Bitcoin in the next year


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Episode links: 

Saifedean Ammous:

Saifedean’s website:


The Bitcoin Standard:


Invest Like the Best episode with Saifedean:


What Bitcoin Did episode with Saifedean:


Plan B’s stock-to-flow model applied to Bitcoin:

Essay on why the stock-to-flow model is wrong: