Listen To This Episode:
For this episode of the Bitcoin Magazine Podcast, host Christian Keroles sits down with founder of the Amber App and The Bitcoin Times Aleks Svetski to discuss his recent Bitcoin Magazine article "Because Bitcoin Is A Necessity, Its Economy Will Be Circular."
This was a wide ranging conversation covering many of the first principle arguments for Bitcoin and sound money. As such, the resulting podcast and video are perfect to share with newcomers to the space, as it lays out the basic case for adopting BTC.
Topics discussed include:
- How bitcoin is the perfect money in that it embodies all of the properties and functions that money should
- How money is arguably the most important invention of mankind, and is the mechanism by which we measure time and energy and the communication medium through which we collaborate
- Why major transformations like Bitcoin are progressions which diffuse through society in memetic fashion
- Modern economics and fiat money
- The issues with Modern Monetary Theory (MMT)
- The local peaks and valleys for our money system
- Why payments and financial privacy will not get better under the existing system and how they’re only going to get worse.
"When you look at modern economics and the fiat money it is dependent upon, you realize you can no longer accurately measure the product of your labor, preserve the product of your labor or freely and voluntarily exchange the product of your labor," Svetski wrote in his article. "Payments and financial privacy will not get better under the existing system, they’re only going to get worse. Savings will not be protected under the existing regime, they will only deteriorate. The taxes demanded by and extorted from you by the growing public sector will not fall, they will only rise."