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<p><img src="https://thumbnails.lbry.com/FXvQcuIb5rU" width="480" alt="thumbnail" title="Bitcoin vs. The Fiat Standard | Dr. Saifedean Ammous | The Jordan B. Peterson Podcast S4: E58" /></p>This episode was recorded on September 8th 2021.<br /><br />Saifedean Ammous is an expert on Bitcoin with a PhD from Columbia University. He joins Dr. Peterson to discuss decentralization, different schools of economics, the Fiat vs. Bitcoin standards, and much more.<br /><br />Dr. Ammous is the author of The Bitcoin Standard, widely considered the essential book on the economics of Bitcoin. He also hosts a podcast of the same name. His new book, The Fiat Standard, should be out in November.<br /><br />_________<br />Find Saifedean here: @Saifedean<br />https://twitter.com/saifedean<br /><br />Or on his website here: https://saifedean.com/<br /><br />_________<br />Shownotes<br />[00:18] Intro<br />[02:34] What are hard monetary assets?<br />[06:13] The argument for bitcoin being the best hard money ever created<br />[09:11] "Bitcoin only has users... no admins. There is nobody with a master key" - Saifedean Ammous<br />[10:36] How the Bitcoin network functions using "consensus parameters"<br />[15:49] "The way that Bitcoin came about seems... virtually impossible to believe" - Jordan Peterson<br />[18:27] Other schools of economics (Austrian) vs. the most common today (Keynesian)<br />[20:46] "So the Austrian school of economics... tilts you more towards an appreciation of non-centrally controlled, distributed networks, and emphasis on the individual actor" - JP<br />[23:25] Paul Samuelson and communist economic expectations of centralized planning post-WW2<br />[25:27] Dr. Ammous' academic background<br />[27:14] Climate change. The push towards central planning, implying certain people or groups know the exact consequences and solutions to future economic developments<br />[29:41] "I've been struck by the problem of unintended consequences and the irreducible complexity of things. We can talk about the problem of climate change, but those words are incredibly deceiving" - JP<br />[34:16] Highlighting the crucial role of the entrepreneur in Austrian economics<br />[40:46] Saifedean reflects on the views held by the central bank, governments, and mainstream economists on money—as opposed to Bitcoin's structuring and the Austrian school of thought<br />[41:43] "From the Austrian perspective, money is a product of the market and not the invention of the state. The state's meddling in money... is irrational and cannot succeed for the same reasons central planning does not succeed" - SA<br />[45:50] Overview of Dr. Ammous' book The Fiat Standard<br />[54:40] Current inflation in Western democracies. The devastating effect of hyperinflation on the average person<br />[58:15] "Money is an incredible technology for lowering our time preference" - SA<br />[58:59] "The 20th century was a global trainwreck of watching the money preference rise. Generation after generation... witnessed their money devalue" - SA<br />[01:02:32] Why some efforts in energy production are misguided<br />[01:06:39] The Fiat Standard—our current<br />...<br />https://www.youtube.com/watch?v=FXvQcuIb5rU |