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Saifedean Ammous on Understanding Bitcoin Economics - WBD127

Published on July 22nd, 2019 by DSholla

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“That is what really drew me to Bitcoin, because it had this property that means that, no matter how many people want to use Bitcoin we’re not going to make more than 21 million. Deal with it.” — Saifedean Ammous

Interview Location: Skype

Interview Date: Monday 15th, July

Company: saifedean.com

Role: Founder

When landing in the world of Bitcoin there are many concepts down the rabbit hole to get lost in, from technology to economics there is a wealth of information available. Within the world of economics, many will discover the theory of Austrian economics for the first time.

Those who believe in Austrian Economics believe in free markets, the gold standard and minimal government intervention. So where does Bitcoin fit into this? Could it be the perfect tool to facilitate a free market Could it even become an improved and new gold standard?

To find out more, I sat down with Saifedean Ammous, author of The Bitcoin Standard and an Associate Professor in Economics at the Lebanese American University. Having recently launched his online academy it was a great time for Saifedean to teach me more about Austrian Economics and catch up on our mutual love for Liverpool FC. We discuss:

  • Is Austrian Economics the only economic model that Bitcoin fits into?

  • Is taxation theft?

  • What makes a market a free market?

  • What is money and is Bitcoin money?

  • Will fractional reserve banking occur with Bitcoin?

  • Will central banks adopt Bitcoin?

  • Will improved monetary policy kill Bitcoin?

  • Will Liverpool win the Premier League in ‘20?

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