The Bitcoin Standard Podcast

By Dr. Saifedean Ammous

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Description

Saifedean's The Bitcoin Standard Podcast is the place to discuss Bitcoin and economics from the Austrian school's perspective. Listen to the weekly saifedean.com discussion seminar, where a group of learners from all over the world discuss the website's online courses, as well as a wide variety of economic, political, and social issues, and occasionally host special guests for the discussion. The podcast also includes the most interesting interviews conducted with Saifedean on other shows.

Episode Date
36. Michael Saylor, stock-to-flow, and praxeology
01:15:20

In this podcast we discussed last week seminar with Microstrategy CEO Michael Saylor. We go over his strategy for buying bitcoin and wether it works for everyone. Then we discuss wether his actions and analysis contradict the bitcoin stock to flow model. Finally, we move on to discuss how we can reconcile the stock to flow model with praxeology and the Austrian economics we cover in our courses on saifedean.com

Feb 24, 2021
35. An Austrian in Pyongyang!
01:16:48
In this podcast we talk to Peter Young, a regular attendee of our seminars and student of Austrian economics, who has spent a lot of time traveling to North Korea. Peter gives us his perspective on the communist economic system and how it functions, through the lens of the Austrian economics.

You can follow Peter on Twitter using the handle @TheAustrian3.

His Medium page contains a list of his threads on economics.

Books Referenced

Andrei Lankov – The Real North Korea (2013)

Paul French – North Korea: State of Paranoia (2014)

B.R. Myers - The Cleanest Race (2010)

Robert L. Schuettinger & Eamonn Butler - Forty Centuries of Wage and Price Controls: How Not to Fight Inflation (1979)

Videos

YouTube video showing a DPRK market before and after the 2009 currency reform.

Andrei Lankov discussion of Kim Jong Un land reforms.

B.R. Myers discussion of DPRK economy and Hikikomori state.

Feb 20, 2021
34. Michael Saylor on The Fiat Standard
02:23:06
We are rejoined by Microstrategy CEO Michael Saylor, who has read the first part of The Fiat Standard and shares some fascinating feedback on it, including how to think of time preference and bitcoin. We also discuss Bitcoin for Corporations, the conference Microstrategy organized, and how he sees the bitcoin corporate wave advancing. What are the assets obsoleted by bitcoin? What are Michael's mental models for thinking about bitcoin's price, his thoughts on price prediction models, and whether he thinks we'll see another big crash in bitcoin. 
 
Subscribe to receive chapters of The Fiat Standard as they are written, on saifedean.com.
Feb 16, 2021
33. Stock-to-flow: a deeper look
01:06:46
In this seminar, we look closely at the concept of stock-to-flow, comparing it across bitcoin, gold, silver, other metals, and altcoins. We go over the data from The Bitcoin Standard, and look at more recent numbers for silver, and explain why attempts to monetize silver and platinum failed, why mining asteroids would not eliminate gold’s monetary role, and what actually could do it.
Feb 10, 2021
32. Anarchy in Health
01:22:25

How would the free market have handled a respiratory illness? After a year of evidence, including my personal experience with the illness, we discuss the effectiveness of individual and public health precautions and interventions.

We examine the difference in approach through the lens of Mises' calculation problem. What economic problems face public health authorities, and what would we have done without them?

We are also re-joined by Philipp Bagus, who has just published a paper on the political economy of mass hysteria.

You can find Philipp's paper here.

Article: Why COVID-19 is more deadly in people with obesity—even if they’re young

Covid-19: Why are age and obesity risk factors for serious disease?

Obesity is the biggest factor driving New York City's coronavirus hospitalizations after age

Feb 07, 2021
31. In Defense of Deflation with Philipp Bagus
01:21:11

This week we host Philipp Bagus, the economist who wrote the definitive Austrian treatment of deflation, In Defense of Deflation. We discuss the history of anti-deflation thought in economics, the different kinds of deflation, the consequences of deflation, and whether this is a problem for bitcoin. We also discuss Philipp's views on bitcoin, as well as his work on the Euro.

Feb 02, 2021
30. Gamestop, deflation, and Q&A
00:58:21

In this week's seminar we discuss reddit's attack on hedge funds by buying Gamestop stock. How the analysis of hard money in The Bitcoin Standard can help us understand why these short-squeezes will be self-defeating everywhere except with bitcoin, because of its unique Number Go Up technology. We also discuss deflation, monarchy, and more fun!

Jan 30, 2021
29. Entrepreneurship in the Austrian tradition, with Per Bylund
01:09:09

We are joined by Austrian-school economist Per Bylund to discuss entrepreneurship as studied in the Austrian school tradition, and how and why the treatment of this topic differs from mainstream schools of thought. Per is a Fellow of the Mises Institute and Assistant Professor of Entrepreneurship & Records-Johnston Professor of Free Enterprise in the School of Entrepreneurship in the Spears School of Business at Oklahoma State University.

Jan 29, 2021
28. Intellectual Property & Patents with Stephan Kinsella and Jed Grant
00:58:37

Stephan is a patent autorney and Libertarian scholar, from whom I’ve learned a lot over the years. Although he is not an economist, he has made a very important contribution to economics by providing the best alaboration of the case against intellectual property.

I highly recommend his paper “Against Intellectual Property”, which I taught in my ECO12 class.

Jed Grant is CEO of KYC3.com and founder of OpenCryptoAlliance, which is attempting to help fight patent trolls in the bitcoin space. We discussed the nature of patents and the threat they pose for bitcoiners and bitcoin companies, and how they attempt to fix it.

Links mentioned in the seminar:

Jan 26, 2021
27. The Underlying Technology Behind Fiat Standard
01:22:39

Saifedean discusses chapters 3 and 4 of The Fiat Standard with subscribers. These foundational chapters explain how the fiat system functions with analogy to Bitcoin, studying central banks as nodes and examining their core functions, explaining how lending in fiat is the equivalent of mining in bitcoin, how it translates to supply issuance, and how to understand price inflation in fiat. Join saifedean.com to receive new chapters as they're written, before publication!

Jan 22, 2021
Is this bull market different? With Preston Pysh
01:52:22

In this seminar we are joined by Preston Pysh, an investor and podcaster who has produced excellent thought-provoking research on bitcoin. We discuss Preston's journey from value investor to bitcoiner, and how he bridges his Warren Buffet background with being a bitcoiner. We also discuss his fascinating mental model for thinking about bitcoin bull runs, and whether this bull run will be similar to previous ones in being followed by a big crash, or if this time will be different.

Jan 18, 2021
25. Economics of time and time preference, from Principles of Economics
00:58:20

Description: Discussion of the economics of time, based on chapter 3 in Saifedean's forthcoming textbook, Principles of Economics. Why is time the ultimate resource, and how does money affect time preference.

Subscribe on saifedean.com to receive weekly emails with the chapters of Saifedean's books!

Jan 11, 2021
24. Why bitcoin's price matters, and Bitcoin as a settlement network
01:05:57

In today's seminar, we discuss why bitcoin's price matters, what bitcoin skeptics get wrong about it, and what it means to the success of the network. We also discuss the US Office of the Comptroller of the Currency's new guidance allowing banks to use public blockchains as settlement infrastructure, and how it agrees with The Bitcoin Standard's thesis.

Jan 06, 2021
23. Bitcoin in Lebanon with Thomas Semaan
01:30:25

Thomas Semaan is an ex-student of Saifedean who has been active in the Lebanese bitcoin scene. He joins us to tell us about the Lebanese fiat crisis, how bitcoin has helped him and other bitcoiners, and compare its effectiveness to political activism and delusions of reform.

Jan 02, 2021
22. Is Trading Bullshit, with Tone Vays
01:49:34

We are joined by Bitcoin trader and analyst Tone Vays, to discuss professional trading, amateur trading, bitcoin trading, and the likely course of the bitcoin bull market.

Dec 31, 2020
21. Central Bank Digital Currencies, the Small Reset, and was Hayek a shitcoiner?
0:00:00

In today’s seminar we discuss Central Bank Digital Currencies and what they mean for Bitcoin. What are the likely contours of a new global monetary system, in the wake of the global economic crises? Finally we examine Hayek’s proposal for competing currencies and whether it makes him a shitcoiner.

Dec 26, 2020
Saifedean Ammous on the Rich Dad Radio Show with Robert Kiyosaki
00:41:16

Gold became money as determined by the free market because of its properties—scarcity. But with the invention of Bitcoin, we are now seeing a historical event that will never be repeated. Bitcoin’s characteristics make it a direct competitor to the central banks because of its absolute scarcity, resistance to theft and confiscation, and the system that it’s built upon prevents it from being shut down.

Saifedean Ammous, economist and author of The Bitcoin Standard: The Decentralized Alternative to Central Banking says, “The higher the ratio of the stock to the flow, the more likely a good is to maintain its value over time and thus be more salable across time.” And he says it’s this reason Bitcoin is the only working alternative for central banking.

Host Robert Kiyosaki and Saifedean Ammous answer the questions surrounding Bitcoin and why it the “first demonstrably reliable operational example of digital cash and digital hard money.”

Website: www.saifedean.com

Dec 23, 2020
20. Macroeconomic outlook from Austrian economics framework with Russell Lamberti
01:31:19

This week we are joined by Russell Lamberti, macroeconomic analyst from the Austrian School, to discuss the global macro outlook, and how bitcoin fits in. Russell is on Twitter on @RussLamberti

Dec 21, 2020
The Fiat Standard - Chapter 1 Read by Guy Swann
00:29:30

The Fiat Standard - Chapter 1 Read by Guy Swann

"For the reader who has become familiar with the operation of bitcoin, a good way to understand the operation of fiat is by drawing analogy to the operation of bitcoin using concepts like mining, nodes, balances, and proof of work. My aim is to explain the operation and engineering structure of the fiat monetary system and how it operates, in reality, away from the naive romanticism of governments and banks who have benefited from this system for a century." - Saifedean Ammous

Today we dig into Chapter 1 of the sequel to the seminal work in the Bitcoin ecosystem, The Fiat Standard. The book is being published on Saifedean.com chapter by chapter before its final release, and you can subscribe to get his courses and the other chapters as they release. But today we dig into the first chapter, the ideas, and a new mindset for examining the failures and successes of fiat money. This is not to be missed.

Visit saifedean.com for more information on The Fiat Standard, the new book by Saifedean Ammous.

Find Guy Swann on Twitter @TheCryptoconomy

Dec 21, 2020
19. Microstrategy's speculative attack & bitcoin bubbles
01:08:02

In today's seminar we discuss Microstrategy's latest issuance of notes to finance more purchases of bitcoin, and what it tells us about the state of fiat markets and bitcoin. We also discuss bitcoin price bubbles, and how they relate to halvings and the stock-to-flow ratio.

Dec 17, 2020
Stephan Livera Podcast Discussion on the Fiat Standard
01:08:54

Saifedean joins Stephan to discuss the underlying technology behind The Fiat Standard, how it operates, and what bitcoin can teach us about how the fiat system functions!

Dec 16, 2020
18. Deflation with Jeff Booth
01:34:05

Jeff Booth is a long-time leader in the tech industry and the founder and ex-CEO of BuildDirect, who recently wrote The Price of Tomorrow: Why Deflation Is the Key to an Abundant Future. He joins us to discuss inflation and deflation, why deflation is the natural state of markets, and how a hard money like bitcoin fixes much of what is wrong with today's world.

Dec 10, 2020
17. Stock-to-flow with Plan B
01:53:02

PLanB is the pseudonym of a Dutch money manager and quantitative analyst who has produced a numerical modelling of bitcoin's price based on its stock-to-flow ratio, after reading about it in The Bitcoin Standard. He joins us to discuss his model, why he thinks it holds so well, what he expects to happen to the model long term, and what problems the model has.

Find out more on PlanBTC.com.

Dec 08, 2020
16. Wholesome hydrocarbons with Alex Epstein
01:38:21

Alex Epstein is the author of The Moral Case for Fossil Fuels, and the founder of the Center for Industrial Progress. He joins us to discuss his work on the importance of energy, and in particular fossil fuels.

Dec 04, 2020
15. Bitcoin mining with Stephen Barbour
00:57:11

In today's seminar we host Stephen Barbour, founder and CEO of Upstream Data, Inc. We discuss Upstream's unique products which allow for mining bitcoin off of methane gas that cannot be sold economically otherwise. We also discuss the economics of Bitcoin mining, the difficulty adjustment, and different energy sources.

Upstream Data's website.

Nov 28, 2020
14. The Fiat Standard
01:07:47

In today's seminar, Saifedean discusses his new book The Fiat Standard, on which he has been working for two years! You can read the first chapter, and sign up to receive a new chapter every week, on saifedean.com!

Nov 24, 2020