Superb conversation, extremely illuminating, and hats off to the interviewer for steering the conversation so adroitly by asking the right questions and letting Saifedean expand on them.
Taking on debt for business growth/expansion is different from accumulating consumer debt via spending; both indicate a higher time preference than saving for the same reason one might go into debt.
8:52 Hey! I sold a guitar for crypto. It didn't move on Craigslist until I advertised that I'd take Bitcoin for it. It sold in the same week. The buyer asked if I'd take ETH. "Sure", said I. It was in late 2017. I'm sure the instrument still plays just fine and, by sheer coincidence, the ETH will buy as many pounds of potatoes (or US Dollars) today as it did then. Pretty cool, eh?
23:45 “once you learn it, it’s hard to unlearn it” after learning this concept a while back ago I have change my spending habits. For example now I’m hesitant to buy a carbon fiber front spoiler for my car. It’s been 3 months I’ve been thinking about this and still haven’t pull the trigger. Don’t get me wrong, I can afford it but decided to invest my money instead
I’m also a skeptic of all altcoins and don’t believe in their long term value. Still, I’m buying 50% btc and 50% altcoins because of their speculative nature. I expect many will outperform btc in terms of gains during the coming bull run, and that’s the only reason I am buying altcoins. However, after I take my profits (hopefully around the top), my next move will be to buy bitcoin with all that money when it drops. Them, buy the hot new altcoins in the early days of the following bull run, after the next halving.
I really wish the crypto community wasn’t so associated with an apocalyptic theory of how monetary policy will play out. Regardless of whether fiat crashes, crypto will likely succeed and yet media often frames it as a zero sum game.
@@alanross2876 that's extremely misguided. For that usecase, choose between torrenting and servers. Putting huge amounts of data on blockchain means you will eventually be trusting servers.
@@alanross2876 just use the bitcoin blockchain for timestamping a tiny hash of the files, that is what opentimestamps does. Storing files on the blockchain is not workable unless you desire a centralized trusted authority.
ammous surely has a strong understanding of economics but a poor understanding of software innovation. He is a btc maximalist that turns a blind eye with a heavily fixed mindset against anything but bitcoin. Imagine ignoring Ethereum and all the gains being made in DeFi?
it is hypocritical to ignore that money printing also held BTC price up , yes it shows how appreciated it is , but still , who knows where would we be without all that ,it seems we just ride that money wave with everything else , until decoupling we have no confirmation of our theories
weird choice to platform a guy that really does not care about or understand the blockchain, and spends most of the episode talking about weird unproven theories about debt and inflation as if they are fact
I stopped listening when he said "economics is not the strong suite of Marxists". Really. His post modern diatribe compares to Des Capital. Okay. In my short time in this space the number of juvenile philistines citing value as subjective and not a consequence of labour exerted is embarrassing. Blockchain technology will be the ledger and transfer platform of a global nation free economy. "Free enterprise" capitalism morphs into monopolies and ethical capitalism is for the unicorns. I thoroughly enjoy this channel and sidestep electricians trying to be plumbers. After all there are scientists who believe in a god yet daily their practice undermines such theories. Such it is in science and such it is in blockchain.
@@KonaChuck22 maybe the labour time necessary to dig for gold and its scarcity marks its value. Value is not a socially agreed thought contract. Think hard - you produce food. Think harder - a house appears. Everyone forgets the working class till they stop. Bitcoin is one of the spades digging capitalisms grave.
@@pincopallino7771 socialism and its next stage communism is global economy free of national boundaries and classes. Just like capitalism smashed feudalism soon it'll be its turn for the dustbin of history.
@@fiftysix9331 Right, and Hegel’s absolute spirit will finally come to be. History, like consciousness will then evolve to its end point. Master and slave are just an evolutionary stage of self-consciousness and once all realize their consciousness is a manifestation of every one else’s, well hell, we’ll then realize all are a manifestation of god’s consciousness and total Geist. Boom! Just like that. If only we can stop those things like Capitalism that keeps us in the self-consciousness stage and evolve, and, at said time we’ll just evolve to where all conflicts and all master/slave relationships will end. End of history as Hegel put it will FINALLY be here. Damn, took long enough and that darn Capitalism just making it take longer. Shucks.
His book changed my life.
Honestly see the world through a totally different lens now.
Superb conversation, extremely illuminating, and hats off to the interviewer for steering the conversation so adroitly by asking the right questions and letting Saifedean expand on them.
This guy is too good.
You read his book the bitcoin standard
He was my University Professor:)
This man is brilliant! Explains things in such a clear manner. Smart guy 🤯
I’m watching this 3 years later and Saifedean is amazing and sound. Everything he said aged very well. I feel lucky to have found him.
Best part was when he called out the marxist anthropologist. That alone deserves a thumbs up!
This podcast has very consistent quality content, and deserves millions of subscribers!
I watch your podcast all the time ... I can't believe I just subscribed now. The UA-cam algorithm knows all
Taking on debt for business growth/expansion is different from accumulating consumer debt via spending; both indicate a higher time preference than saving for the same reason one might go into debt.
8:52 Hey! I sold a guitar for crypto. It didn't move on Craigslist until I advertised that I'd take Bitcoin for it. It sold in the same week.
The buyer asked if I'd take ETH. "Sure", said I.
It was in late 2017. I'm sure the instrument still plays just fine and, by sheer coincidence, the ETH will buy as many pounds of potatoes (or US Dollars) today as it did then. Pretty cool, eh?
All Keynsians dislike this episode!
you mean Satanists?
Bitcoin will become the money of the information age.
great interview
Really enjoyed this podcast, thanks!
Its great to have saiffadean in this space, along with planB
23:45 “once you learn it, it’s hard to unlearn it” after learning this concept a while back ago I have change my spending habits. For example now I’m hesitant to buy a carbon fiber front spoiler for my car. It’s been 3 months I’ve been thinking about this and still haven’t pull the trigger. Don’t get me wrong, I can afford it but decided to invest my money instead
Best episode of all.
🧡💛💚💙 LAURA thanks for bringing back the Groovy intro music. I always bob my head when it comes on 🧡💛💚💙
what brand is saif's shirt?
Love your show thank you
great job!
When you say bitcoin are you referring to BTC or BSV?
Lol Please tell me you aren't seriously asking
what a smart man.
I’m also a skeptic of all altcoins and don’t believe in their long term value. Still, I’m buying 50% btc and 50% altcoins because of their speculative nature.
I expect many will outperform btc in terms of gains during the coming bull run, and that’s the only reason I am buying altcoins.
However, after I take my profits (hopefully around the top), my next move will be to buy bitcoin with all that money when it drops.
Them, buy the hot new altcoins in the early days of the following bull run, after the next halving.
You understand well
Please interview Roy Sebag!
I really wish the crypto community wasn’t so associated with an apocalyptic theory of how monetary policy will play out. Regardless of whether fiat crashes, crypto will likely succeed and yet media often frames it as a zero sum game.
BTC was created because of our monetary policies
And fiat will probably crash and burn
I just cant believe she talk so sweet. :-)
No other real use cases for blockchain? I feel like vechain has a really valuable concept🤷♂️
Vechain is an insanely large market cap version of several other projects with similar or better tokenomics and similar levels of adoption.
I think he missed block chains use case
No he didn't. Its primary use case is Bitcoin.
@@SAL-fs1mr the main use is data storage and retrieval. That cannot be done on BTC
@@alanross2876 that's extremely misguided. For that usecase, choose between torrenting and servers. Putting huge amounts of data on blockchain means you will eventually be trusting servers.
@@SAL-fs1mr the block chain is more secure than a third party. Data management is already moving to the blockchain.
@@alanross2876 just use the bitcoin blockchain for timestamping a tiny hash of the files, that is what opentimestamps does. Storing files on the blockchain is not workable unless you desire a centralized trusted authority.
"We're in it for the tech, and the tech is the price". Ha, ha.
duh ? protocol gets the revenue , that is the point !
ammous surely has a strong understanding of economics but a poor understanding of software innovation. He is a btc maximalist that turns a blind eye with a heavily fixed mindset against anything but bitcoin. Imagine ignoring Ethereum and all the gains being made in DeFi?
Imagine
Hahaha, Marxist Anthropologist 28:05
it is hypocritical to ignore that money printing also held BTC price up , yes it shows how appreciated it is , but still , who knows where would we be without all that ,it seems we just ride that money wave with everything else , until decoupling we have no confirmation of our theories
#deandumb
too much corruption pump and dumps
weird choice to platform a guy that really does not care about or understand the blockchain, and spends most of the episode talking about weird unproven theories about debt and inflation as if they are fact
I stopped listening when he said "economics is not the strong suite of Marxists". Really. His post modern diatribe compares to Des Capital. Okay. In my short time in this space the number of juvenile philistines citing value as subjective and not a consequence of labour exerted is embarrassing. Blockchain technology will be the ledger and transfer platform of a global nation free economy. "Free enterprise" capitalism morphs into monopolies and ethical capitalism is for the unicorns. I thoroughly enjoy this channel and sidestep electricians trying to be plumbers. After all there are scientists who believe in a god yet daily their practice undermines such theories. Such it is in science and such it is in blockchain.
Value is a consequence of labor? If I spend 100 hours digging a hole and another 100 hours filling it in, what is the value of that labor?
@@KonaChuck22 maybe the labour time necessary to dig for gold and its scarcity marks its value. Value is not a socially agreed thought contract. Think hard - you produce food. Think harder - a house appears. Everyone forgets the working class till they stop. Bitcoin is one of the spades digging capitalisms grave.
@@fiftysix9331 you don't really understand that a global nation free economy means no more socialism, do you?
@@pincopallino7771 socialism and its next stage communism is global economy free of national boundaries and classes. Just like capitalism smashed feudalism soon it'll be its turn for the dustbin of history.
@@fiftysix9331 Right, and Hegel’s absolute spirit will finally come to be. History, like consciousness will then evolve to its end point. Master and slave are just an evolutionary stage of self-consciousness and once all realize their consciousness is a manifestation of every one else’s, well hell, we’ll then realize all are a manifestation of god’s consciousness and total Geist. Boom! Just like that. If only we can stop those things like Capitalism that keeps us in the self-consciousness stage and evolve, and, at said time we’ll just evolve to where all conflicts and all master/slave relationships will end. End of history as Hegel put it will FINALLY be here. Damn, took long enough and that darn Capitalism just making it take longer. Shucks.