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Broken Silicon 37: Bitcoin & Austrian Economics | Stephan Livera (Patreon)

Published:
2020-02-24 10:00:59
Imported:
2026-06
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Content

Stephan Livera joins Tom to discuss everything Bitcoin and Austrian Economics. We also discuss how Mining got Tom into PC Hardware, and if there will be another mining boom…

1) 0:25 Why a BTC Podcast?

2) 7:10 How Crypto got Tom into PC Hardware 

3) 15:16 The Altcoin Trap

4) 20:30 Bitcoin’s Potential & What Makes it Unique

5) 28:20 How Inflation is a Tax on the Middle Class

6) 31:55 A Conspiracy without Conspirators

7) 39:40 Bitcoin is not “Libertarian,” it’s “Anti-Authoritarian”

8) 46:10 Bitcoin isn’t hoping for a crash, it’s trying to prevent one…

9) 53:13 Adoption Cycles & Bull Runs 

10) 1:04:30 Wallet Security & Safe Storage

11) 1:11:40 Hopes for the Future

12) 1:20:00 Advice for people who want to learn more.

13) 1:24:00 Will there be another GPU Mining Boom?

Guest’s Podcast: https://stephanlivera.com/episodes/

Good Starter Book: https://amzn.to/3bMCzo7

Bitcoin Satellites are already up: https://blockstream.com/satellite/



Files

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Comments

John Dorman

Deflationary currencies are a fundamentally bad basis for the proven credit/investment monetary mechanism. If BTC had fixed generation, something DOGE realized, hilariously, it would be much stronger.

MooresLawIsDead
>>32887774

You say "fundamentally" like it is some inherent truth. This is a Keynesian mentality. I hope you listened to the whole episode.

John Dorman
>>32887774

I did. I'm just observing that people don't like lending or spending or borrowing deflationary money. Would you want to borrow 1 bitcoin payable as 1.1 bitcoins 10 years from now? Hell no lol

MooresLawIsDead
>>32887774

1) Bitcoin doesn't even need to be used for lending. Do we use Gold for Lending? No, and this is a common misconception I keep seeing. Bitcoin's goal is not necessarily to replace everything. Like we discuss in the podcast: There will still be stocks, there will still be fiat, and there will still be loans. 2) If Bitcoin ever did almost entirely replace fiat, that would be in like 50 years lol. By then Bitcoin would effectively be the same price every year - the price would stabilize. You would then do loans pegged to Bitcoin or in other denominations anyways. I am not worried about people finding new ways to loan money lol - people always find a way to do that...but at least Bitcoin may make loaning more responsible. 3) The point is that people need to stop spending money they don't have. Loans will never disappear, but it would be good if there are less of them carelessly thrown out until another group of "investors" crashes the world market again. In a "Hyper-bitcoininized" world loans would just need to be handled more conservatively, and the world doesn't need to "Hyper-bitcoinize" for Bitcoin to be an important innovation. 4) To be clear, new Bitcoin is minted in every block still (even if less than before), and will be for decades.