Property Rights, Capitalism, and Bitcoin with Saifedean Ammous

Yes! When I finally got that the new store of value is the inviolable property right itself, and not just some digital gold, I got BTC. Makes you realize how gold, real estate, anything physical is protected by the illusion of property rights as provided by any government. So as a store of value, actually gold is extremely risky. You don't even have a guarantee of the most personal property right, which is the right to be left alone.

Refreshingly logical and compassionate.

Love the Classical Econ meets Bond/Market Analysis - great minds!

Problem with anarchists is that they think everyone wants voluntary exchange. I’m an Austrian economics guy. We as a community need to get more pragmatic, talking about anarchy undermines our cause. There will always be people that force their will upon people. Would love if you could ask the interviewee about this.

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Love thiat fella, he's awesome! Thanks for getting him on. Cheers

Saifedean is always an instant click, instant like.

Many have pointed this out before, but again it's important to understand that energy (which bitcoin system uses) is the basis for everything however is nothing if not put to use. Some may say energy is wasted on bitcoin. Maybe in some cases. But the energy must 1st be harnessed (investment) and then put to use (sold to the market or used by the original investors). The market will decide if this energy is demanded for goods, services, or bitcoin transactions. In a city, the market will likely direct most of this energy to goods and services. Elsewhere the energy may be better used to facilitate the bitcoin network. This is what is meant by saying bitcoin is energy. So this commodity of energy is always a ratio to other goods. And since the bitcoin network is directly tied to energy, along with the programmed rules associated, it makes for a great medium of exchange. However, just as with gold, all users must stay vigilant. All must stay knowledgeable about why society needs "hard" money otherwise even hard money gets subordinate to all sorts of creative derivatives such as fractional reserve banking and debt stacked on debt.

Thanks

47:13 Extremely important to understand!!!

Thx

Brilliant!

stay in my algorithm

I can measure the value of my bitcoin in terms of energy expenditure, similar to how I gauge the value of my employees. How do people measure the worth of paper created from thin air?

Brillant! SA never disappoints.

Let's see, I look forward to listening through this conversation. In the back of my mind I have my question of, how much am I going to be able to perceive that if money is to be money, the market to be the market, how much are these people clear that communication, then, has to be communication?

Amazing info 😍

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So every bridge, tunnel and road will have a toll station? In this scenario we‘ll see flying taxis faster than anyone can build a bridge. I guess that would be a good result by a free market.

Should be required education in early childhood and then ongoing.