We’re All Default Keynesians Now

“Unless you began your Austrian economic education at birth in some unknown Austrian paradise, on this planet at this particular time in human history, I think we can safely say we’re all Keynesians by default.” – Brady Swenson @citizenbitcoin

Today we read a great little piece on how our economic understandings have become so skewed, why the default has become one of centralized, top down control over money, and how Bitcoin is set to right the world of our economic foundations. We’ve got a fun rant after this one too, so don’t miss it!

Check out the original article and drop some major applause. Don’t forget to follow Brady on Twitter and check out his show as well!
https://medium.com/@citizenbitcoin/were-all-default-keynesians-now-and-how-bitcoin-is-changing-that-886ed2096b76

Get your “Default Keynesian” shirt here:
https://layeronebtc.com/collections/citizen-bitcoin-podcast/products/default-keynesian-short-sleeve-unisex-t-shirt

Saif’s Beginner’s Guide to Austrian Econ:
https://saifedean.com/2018/07/22/a-beginners-guide-to-austrian-economics/

Stephan Livera’s Intro to Bitcoin Austrian Thought:
https://stephanlivera.com/episode/71/

And the huge collection of works at Gigi’s Bitcoin Resources:
https://bitcoin-resources.com/

This episode is sponsored by
· Anchor: The easiest way to make a podcast. https://anchor.fm/app

Send in a voice message: https://ift.tt/2LQ0pFP
Support this podcast: https://anchor.fm/thecryptoconomy/support

All 21M Bitcoin Already Exist

All 21M Bitcoin Already Exist

“we have nearly 11 years of empirical evidence that the network itself has been holding and transacting bitcoin, but instead of with private key signatures, it’s in exchange for hashed electricity.”  – Phil Geiger

Framing the scarcity of Bitcoin at first seems obvious, but with a closer look, is far more difficult than it would seem. Does the supply actually inflate at all? Does the market price in all future halvings? Do the Bitcoin exist when they are mined, or do they exist today, sold to the miners in exchange for hashes?  Phil presents a very interesting perspective and way of framing the supply of Bitcoin, in this great piece from the Unchained Capital Blog.

Check out the original below, and don’t forget to follow Phil on Twitter:
https://unchained-capital.com/blog/all-21-million-bitcoin-already-exist/

Support the audio for all things Bitcoin by becoming a patron below!
patreon.com/thecryptoconomy

This episode is sponsored by
· Anchor: The easiest way to make a podcast. https://anchor.fm/app

Send in a voice message: https://ift.tt/2LQ0pFP
Support this podcast: https://anchor.fm/thecryptoconomy/support

All 21M Bitcoin Already Exist

Bitcoin Obsoletes All Other Money

“Money is an intersubjective problem, and a choice to opt into one monetary medium is an explicit opt out of the other, which in turn causes one network to gain value (and utility) at the direct expense of another.” – Parker Lewis

Skipping around a little bit in the “Gradually, Then Suddenly” series, we read the most recent (#12) published on the Unchained Capital Blog. No, Bitcoin isn’t a startup. No, there will not be many currencies. No, you can’t create an alternative that doesn’t compete with Bitcoin’s monetary properties. The very problem of money is one of intersubjectivity, which can only be solved through convergence on a single monetary medium. Bitcoin.

Listen to this excellent installment from Parker Lewis and the Unchained Team. “Bitcoin Obsoletes All Other Money.”
https://unchained-capital.com/blog/bitcoin-obsoletes-all-other-money/

To check out the rest of the audio collection for the Unchained Blog, check out the site:
https://thecryptoconomy.com/collections-new/

Also mentioned on the show was Nick Szabo’s excellent piece, “Money, Blockchains, & Social Scalability.”
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_066—Money–Blockchains–and-Social-Scalability-e2ndsj

This episode is sponsored by
· Anchor: The easiest way to make a podcast. https://anchor.fm/app

Send in a voice message: https://ift.tt/2LQ0pFP
Support this podcast: https://anchor.fm/thecryptoconomy/support

The Halving is Not Priced in, Here’s Why

As a follow up to Nic Carter’s excellent breakdown of the efficient market hypothesis, and PlanB’s piece addressing the market’s evaluation of the risks in Bitcoin, I go through the reasons I feel the market both is very unwilling and unconfident about the consequences of the halving, and therefore sees it not as “known information,” but more a blind gamble.

For diving deeper into the many topics and works that I brought up, here are the links of all those I remembered:
• Nic Carter’s “Introduction to the Efficient Market Hypothesis”
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_343—Introduction-to-the-Efficient-Market-Hypothesis-for-Bitcoiners-Nic-Carter-eac03b
• PlanB’s “Efficient Markets and Bitcoin’s Stock-to-Flow”
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_344—Efficient-Markets–Bitcoins-Stock-to-Flow-PlanB-eaco0i
• Hayek’s “Use of Knowledge in Society” [Part 1 & 2]
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_250—Use-of-Knowledge-in-Society-Part-1—F–A–Hayek-e43pfj
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_251—Use-of-Knowledge-in-Society-Part-2—F–A–Hayek-e444k0
• Parker Lewis’s “Bitcoin is Not Backed by Nothing”
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_335—Bitcoin-is-Not-Backed-by-Nothing-Parker-Lewis-e9v1rs
• Hoppe’s “Yield From Money Held Reconsidered”
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_122—The-Yield-From-Money-Held-Reconsidered-e2ndqn
• Conner Brown’s “Bitcoin Has No Intrinsic Value, & That’s Great!”
https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_249—Bitcoin-Has-No-Intrinsic-Value—Thats-Great–Conner-Brown-e43bcm

Don’t forget to grab your tickets to BitBlockBoom and use the offer code CC for a 30% discount!
https://bitblockboom.com/

This episode is sponsored by
· Anchor: The easiest way to make a podcast. https://anchor.fm/app

Send in a voice message: https://ift.tt/2LQ0pFP
Support this podcast: https://anchor.fm/thecryptoconomy/support

Efficient Markets & Bitcoin’s Stock to Flow

“A first reaction could be that it is a great investment opportunity. A better reaction (from an EMH and non arbitrage point of view) would be that it is too good to be true.” – PlanB

If the efficient market hypothesis requires that known events be priced in, then how could the S2F be a model for Bitcoin’s price? When such an obvious and unchanging piece of information is available, shouldn’t the market price it in? Continuing with the foundation laid from yesterday’s article, we read Plan B‘s piece on what a risk & return model might tell us about the market’s pricing of Bitcoin ahead of the halving.

Drop some applause on the original article at the link below and don’t forget to follow @100TrillionUSD (PlanB) if you haven’t already!
https://medium.com/@100trillionUSD/efficient-market-hypothesis-and-bitcoin-stock-to-flow-model-db17f40e6107

This episode is sponsored by
· Anchor: The easiest way to make a podcast. https://anchor.fm/app

Send in a voice message: https://ift.tt/2LQ0pFP
Support this podcast: https://anchor.fm/thecryptoconomy/support