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Invest Like the Best with Patrick O'Shaughnessy
Saifedean Ammous – The Bitcoin Standard - [Invest Like the Best, EP.107]
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Show Notes
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My guest this week is Saifedean Ammous, author of the book the Bitcoin Standard. This was one of the more interesting conversations I’ve had in the world of cryptocurrency, primarily because we don’t talk about Bitcoin or Crypto until 25 minutes into the talk. Instead, we focus on history, economics, sound money, low time preference, and gold—all interesting topics.
Saif’s thinking on cryptocurrencies other than bitcoin—which is that they are worthless—is unique and thought provoking. His reasoning around why gold shouldn’t be compared to the returns generated by assets like equities was also compelling. If you’ve followed my Hash Power episodes, this is a new a differentiated interpretation of Bitcoin as a technology for the store of value use case. Please enjoy our conversation.
Hash Power is presented by Fidelity Investments
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.
Follow Patrick on Twitter at @patrick_oshag
Show Notes
(First Question) – Explain Sound Money
– Examples of hard vs easy money
– the even money trap
– The benefits of hard money vs today’s standards
– Why this interests him
– Gold Wars: The Battle Against Sound Money As Seen From A Swiss Perspective
– Democracy – The God That Failed: The Economics and Politics of Monarchy, Democracy and Natural Order
– Correlation between time preference and people’s ability to succeed in life
– How money markets worked in the late 18th century vs today
– How he came across Bitcoin and how he thinks of it as a digital gold
– How will the world transition to a sound money standard
– The impacts of hyperinflation on crypto currencies
– The idea of a orderly upgrade of the world currency
– His thinking on alternative coins
– What it takes to compete with bitcoin
– How he diversifies
– Stalling bitcoins demand
– Does he apply his thinking of lower time preference elsewhere in his life
– Kindest thing anyone has done for him
Learn More
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub
Follow Patrick on twitter at @patrick_oshag
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