I studied a lot of subjects in school - through college. But self-learning about BTC is not only more interesting than anything I've ever studied, it continually leads me to understand the world in a way nothing taught in school ever did. There is something VERY special about Bitcoin.
I’m currently sick. My kid is sick. I had to cancel my flight home to see my family in Australia that I haven’t seen for two years. Needless to say, I’m feeling a little down. But then I saw this episode pop up and it cheered me up. I absolutely love your podcasts with Lyn. Thanks Peter and Lyn!
8 simple facts to address some of the principle confusions here: 1. Money is legally an agreement between two or more parties. Setting legal tender laws aside, ANYTHING can be money in private commerce. 2. Currencies are the STANDARDIZATION of "money agreements" - i.e. a One Dollar Federal Reserve Note is a non-interest-bearing promissory note. 3. The FUNCTION of currency is that of LANGUAGE OF VALUE - aka "pricing function" expressed as a unit of account. The largest network effects are attached to that function. 4. The primary USE CASE currency today is lending. All digital government-issued fiat currency is in a constant state of lending, as such strictly speaking there are no 'deposits'. 5. The secondary USE CASE of currency is spending. The client software for the latter might be a web or mobile app, or coded into hardware - i.e. debit cards, ultimately accessing a demand deposit account. 6. Setting physical cash aside, the medium of exchange (MOE) for all currencies - including "cryptocurrencies" - are BYTES. In that respect bitcoin (BTC) uses the same MOE as the US Dollar and other fiat currencies. 7. Globally the leading unit of account (UOA) is US Dollar. In that respect, bitcoin and other cryptocurrencies are frequently denominated in USD, with wallet interfaces offering other fiat currency translations. 8. Tokens are STANDARDIZED SMART CONTRACTS built atop a public blockchain, which can be digital bearer instruments (DBIs). DBIs can in principle settle 'instantly' with finality and without a third party.
Peter, you have a fantastic style & really enjoy your style & interaction with your guests & especially Lyn. What an amazing, toyally talented & clever person, she is. Could listeh/read her content 24/7, such a talent. Just brilliant all around episode, as per usual 💯👌👍
someone really summed Lyn up the other day on Twitter..."Lyn Alden's brain is on a whole other level" ....and it's true..and she says things that make so much sense yet, I've never thought of myself.
You have got to love this unbelievably smart and humble lady. The more I watch of Lyn, the more I realise she really is one of the great thinkers in this space. I will be sure to be listening a lot more to this lady's perspective on things and paying close attention. Great episode.
I would like to see "JV's chart" that you keep referring to. You said in this podcast that you would put it in the description below, but I don't see it. Please link the chart. It would be very helpful to understand what you are talking about. Thank you!
Lyn is a true Cinderella. From nothing to widely recognized as thoughtful and unbiased. Yet, she maintains her humility. Fantastic. Peter: regarding bitcoin as money, please ask your guests if we truly need elasticity of money and what are the ill effects, if any, of a deflationary system that will come with widespread bitcoin adoption.
Peter, there's a economics term for that good feeling you were describing when giving: appropriately enough, the "warm glow effect". Concept is used all the time in environmental economics when talking about why a person gives to support saving endangered species. You are right in that it is a kind of consumption - what it provides (in addition to true altruistic motivation) is a sense of identity, "I'm the sort of person who spends to save the polar bears," as well as perhaps acting as a signaling device to others in a community you value "I save polar bears, want to date me???". Complicated given diverse motivations, but there's been a lot of research on the topic
Excellent interview. So much solid information packed into an hour. Lynn mentioned needing to hook up with a programmer for a potential book. She should meet Jimmy Song if she hasn't already. He's a Bitcoiner from the beginning and has written books about programming and Bitcoin. I bet they'd team up for an amazing book! Keep doing great work guys.
Great wisdom from Lyn as always ... also your efforts in lighting and sound quality are appreciated. Too many high profile UA-camrs have cr*p audiovisuals.
What a special interview with a special woman and money master as Lyn 🙏🏻❤️ Thank you so much for the great podcast with Lyn, She made me understand what money really is. Please please keep hosting Lyn in the show, Thank you so much again. With love
It occurred to me that the only 2 comments I've written on WBD have been critical. I just wanted to say that I DO love the show. I especially love the show when you have Lyn Alden on!
Watching your podcasts gave me a great idea for my presentation for my blockchain course and plenty of information that I could deeper research thanks to Lyn. She is my number 1 source of knowledge after being into economy/crypto for 2nd year. YOU ARE A LEGEND and thank you guys for these discussions. Greetings from Gold Coast
Is it accurate to say that any network that isn't proof of work should be considered proof of stake? My thinking is along the lines of fiat, and how every fiat holder is "staking" that value, albiet at a negative rate of return due to the inflation rate and zero yield.
Thinking outside the box is a skill that they cannot teach in school. It's something that a person has to acquire through years of experience and curiosity about the world and how it works. It seems to me that many people just need to be taught what it looks like to think outside the box, by giving them examples of how in the past when a completely new idea emerged it was thought of as being crazy but then when you look at it in hindsight you can see that the person who originated that idea was looking beyond the current way things were done trying to see if there were a better way that no one had thought of yet.
Lyn is the best, pure signal, zero noise.
Well put
nice way to put it
Couldn't agree more
Lyn is really smart. Thanks for having her on the podcast. I really enjoyed it.
I studied a lot of subjects in school - through college. But self-learning about BTC is not only more interesting than anything I've ever studied, it continually leads me to understand the world in a way nothing taught in school ever did. There is something VERY special about Bitcoin.
I’m currently sick. My kid is sick. I had to cancel my flight home to see my family in Australia that I haven’t seen for two years. Needless to say, I’m feeling a little down. But then I saw this episode pop up and it cheered me up. I absolutely love your podcasts with Lyn. Thanks Peter and Lyn!
Hang in there Get well soon. Loads of love from the Netherlands 🇳🇱. We are all one big community changing the world, hope you see your family soon. 👪
Why were you feeling down?
@@vpnconsult thank you so much!
Peter...I look forward to your interviews with Lyn every time! She's amazing.
There is so much NOISE in the internet.... It is refreshing to listen to sound, Intelligent, discussion. Thank you both.
Brilliant, comprehensive and crystal clear. I even added this episode to my favourites list for future reference. Thanks a lot Lyn and Peter!
8 simple facts to address some of the principle confusions here:
1. Money is legally an agreement between two or more parties. Setting legal tender laws aside, ANYTHING can be money in private commerce.
2. Currencies are the STANDARDIZATION of "money agreements" - i.e. a One Dollar Federal Reserve Note is a non-interest-bearing promissory note.
3. The FUNCTION of currency is that of LANGUAGE OF VALUE - aka "pricing function" expressed as a unit of account. The largest network effects are attached to that function.
4. The primary USE CASE currency today is lending. All digital government-issued fiat currency is in a constant state of lending, as such strictly speaking there are no 'deposits'.
5. The secondary USE CASE of currency is spending. The client software for the latter might be a web or mobile app, or coded into hardware - i.e. debit cards, ultimately accessing a demand deposit account.
6. Setting physical cash aside, the medium of exchange (MOE) for all currencies - including "cryptocurrencies" - are BYTES. In that respect bitcoin (BTC) uses the same MOE as the US Dollar and other fiat currencies.
7. Globally the leading unit of account (UOA) is US Dollar. In that respect, bitcoin and other cryptocurrencies are frequently denominated in USD, with wallet interfaces offering other fiat currency translations.
8. Tokens are STANDARDIZED SMART CONTRACTS built atop a public blockchain, which can be digital bearer instruments (DBIs). DBIs can in principle settle 'instantly' with finality and without a third party.
Thank you for this
Love this podcast. Thank you so much for putting these out. As well as the high production value.
Absolutely,with the current situation of things going on right now,anyone financially stable could flee away with his family.
Peter, you have a fantastic style & really enjoy your style & interaction with your guests & especially Lyn. What an amazing, toyally talented & clever person, she is. Could listeh/read her content 24/7, such a talent. Just brilliant all around episode, as per usual 💯👌👍
Lyn is ridiculously sharp and insightful. Learn something new every time I listen.
Love Lyn's mind and her work; macro goddess! Thanks for another fantastic show.
The Wisdom of Lyn Alden!!!! excellent and breath taking thoughts !!!
Lyn Alden is awesome, so much knowledge and insight. Pearls of wisdom from a brilliant podcast.
someone really summed Lyn up the other day on Twitter..."Lyn Alden's brain is on a whole other level" ....and it's true..and she says things that make so much sense yet, I've never thought of myself.
You have got to love this unbelievably smart and humble lady. The more I watch of Lyn, the more I realise she really is one of the great thinkers in this space. I will be sure to be listening a lot more to this lady's perspective on things and paying close attention. Great episode.
Man
so you could say that what bitcoin mining is doing fundamentally, is digitizing energy?
I cannot comprehend the wisdom of someone so young, Lyn Alden as an absolute treasure.
Thanks to both of you! Awesome show again Lyn is so knowledgeable and gives great insights!
Lyn is the most insightful, genuine financial advisor I've seen yet. A worthy watch for beginners! #LynAlden #Crypto
Always Amazing, is Lyn Alden. Love Peter’s interview style.
What a mind Lyn has.... simply incredible. Great interview! Thanks.
I would like to see "JV's chart" that you keep referring to. You said in this podcast that you would put it in the description below, but I don't see it. Please link the chart. It would be very helpful to understand what you are talking about. Thank you!
Lyn is a true Cinderella. From nothing to widely recognized as thoughtful and unbiased. Yet, she maintains her humility. Fantastic.
Peter: regarding bitcoin as money, please ask your guests if we truly need elasticity of money and what are the ill effects, if any, of a deflationary system that will come with widespread bitcoin adoption.
Lynn is an outstanding macro investor... This was a great show, very thought provoking!
Peter, there's a economics term for that good feeling you were describing when giving: appropriately enough, the "warm glow effect". Concept is used all the time in environmental economics when talking about why a person gives to support saving endangered species. You are right in that it is a kind of consumption - what it provides (in addition to true altruistic motivation) is a sense of identity, "I'm the sort of person who spends to save the polar bears," as well as perhaps acting as a signaling device to others in a community you value "I save polar bears, want to date me???". Complicated given diverse motivations, but there's been a lot of research on the topic
i can listen all day to lyn
Podcasts with Lyn need to be 2 hours + long. Like if you agree
I would love Lyn getting started with monero
Excellent interview. So much solid information packed into an hour. Lynn mentioned needing to hook up with a programmer for a potential book. She should meet Jimmy Song if she hasn't already. He's a Bitcoiner from the beginning and has written books about programming and Bitcoin. I bet they'd team up for an amazing book! Keep doing great work guys.
A lot of insight here and well worth watching twice. Chapeau!
HUGE respect for Lyn. May God bless you.
Great work - thank you both!
This is gonna be amazing!!! So excited to watch!
There does not seem to be the reference to the "VJ" Grid comparison of money article you quoted 🙄
Please provide a link
Thanks
Lyn, you are amazing. So are you Peter, thanks for all you do in this space.
Thank you both! great content
Such fantastic content on a great topic! Thank you!
Great wisdom from Lyn as always ... also your efforts in lighting and sound quality are appreciated. Too many high profile UA-camrs have cr*p audiovisuals.
Love this episode !! I will send to my friends
Lyn is the ONLY person I listen to/watch on your podcast. The ONLY one. No need for others.
Thank you for the great (clear) content, Peter and Lyn!
Lyn is really smart. Thanks for having her on the podcast. A great inspiration to the tran's community
What a special interview with a special woman and money master as Lyn 🙏🏻❤️ Thank you so much for the great podcast with Lyn, She made me understand what money really is. Please please keep hosting Lyn in the show, Thank you so much again.
With love
That's very Haram Mahmoud....
The best episode about BTC.
That "SCHIFF" sign under the table made my day
The only time I watch your channel /or listen to your podcast is when Lyn Alden is on. I'm also a premium member! DaBest!
It occurred to me that the only 2 comments I've written on WBD have been critical. I just wanted to say that I DO love the show. I especially love the show when you have Lyn Alden on!
I want someone that looks at me the way Peter looks at Lyn :(
Love Lyn Alden... Always be Safe & Healthy!! Thanks a lot for the knowledge sharing. Very Appreciate 🙏
Lyn is amazing. She always brings a smile to my face even in the deepest recession.
43:30 Most Important point of the talk - Monetization of non-money assets
Where can I find the paper she wrote that they refer to in the podcast please?
Watching your podcasts gave me a great idea for my presentation for my blockchain course and plenty of information that I could deeper research thanks to Lyn. She is my number 1 source of knowledge after being into economy/crypto for 2nd year. YOU ARE A LEGEND and thank you guys for these discussions. Greetings from Gold Coast
Is it accurate to say that any network that isn't proof of work should be considered proof of stake? My thinking is along the lines of fiat, and how every fiat holder is "staking" that value, albiet at a negative rate of return due to the inflation rate and zero yield.
A macro guru AND a fashion symbol. thanks Lyn!!
Lyn is my favorite guest of yours.
When Lyn Alden speaks, I listen.
And thank you for the interview
Proof of force, spot on
The table is almost as long as putin's 😂
Excellent! Lyn is the best
What was the volatility of gold during the gold rush?
I like to listen to her so much. She is great.
I love Lyn Alden!
I love you two! Great stuff 👍
Love listening to Lyn!
Best. Thanks Peter and Lyn.
Where's the link to Lyn's 20 thousand word article?? Seems like something this guy would have included HERE.
Very helpful presentation and information. 👍👍
When does Peter Schiff come on the show?
YEAAAA! I Haven't even listened past the first minute and I already know this will be awesome. Lol.
Fantastic. Thank you both.
What's up with oversized tables nowadays?
knowledge and maturity, #Impact I see such greatness for this 🌎.#redistributewealth #sovereignty #Respect #infoIsWealth
Great interview
This is a great interview.
Mission accomplished! I will use this interview in my Orange Pill tool kit. Nice work. Proof.
Way too early on this! Clicked instantly for Lyn
Bravo. 👏👏👏
+1 for a Lyn Alden book.
01:33 Nice one, keep it up!
Massive relatively new fan of Lynn
Great stuff
We are all Satoshi, especially Lyn Alden. 🤘
I like this vid. Good insight.
Lyn is the best! 👍
Lyn Alden is so cool
Just awesome
When does the volatility end? Asking for a friend.
Lyn is awesome!
Brilliant.
1:30 Interesting. this is Thomas Sowell’s process as well. I wonder if he influenced Lyn.
Block clock energy, is on point. Legitness.
You have to love anyone who knows Satoshi and can reference his work.
How are you going to mention Proof of Force without mentioning Jason Lowey?
Lyn is freaking intelligent! 😍😍😍
Love those mirrors.
Thinking outside the box is a skill that they cannot teach in school. It's something that a person has to acquire through years of experience and curiosity about the world and how it works. It seems to me that many people just need to be taught what it looks like to think outside the box, by giving them examples of how in the past when a completely new idea emerged it was thought of as being crazy but then when you look at it in hindsight you can see that the person who originated that idea was looking beyond the current way things were done trying to see if there were a better way that no one had thought of yet.
This should have been a 2 hour show at least.