203. The Immaculate Conception: Bitcoin vs Fiat Standard | Dr. Saifedean Ammous

203. The Immaculate Conception: Bitcoin vs Fiat Standard | Dr. Saifedean Ammous

This episode was recorded on September 8th 2021. 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. 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. _ Find Saifedean here: https://twitter.com/saifedean Saifedean’s online learning platform: http://saifedean.com (20% off by using the code “Peterson”) The Bitcoin Standard: http://saifedean.com/thebitcoinstandard The Fiat Standard: http://saifedean.com/thefiatstandard _________ [00:18] Intro [02:34] What are hard monetary assets? [06:13] The argument for bitcoin being the best hard money ever created [09:11] "Bitcoin only has users... no admins. There is nobody with a master key" - Saifedean Ammous [10:36] How the Bitcoin network functions using "consensus parameters" [15:49] "The way that Bitcoin came about seems... virtually impossible to believe" - Jordan Peterson [18:27] Other schools of economics (Austrian) vs. the most common today (Keynesian) [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 [23:25] Paul Samuelson and communist economic expectations of centralized planning post-WW2 [25:27] Dr. Ammous' academic background [27:14] Climate change. The push towards central planning, implying certain people or groups know the exact consequences and solutions to future economic developments [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 [34:16] Highlighting the crucial role of the entrepreneur in Austrian economics [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 [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 [45:50] Overview of Dr. Ammous' book The Fiat Standard [54:40] Current inflation in Western democracies. The devastating effect of hyperinflation on the average person [58:15] "Money is an incredible technology for lowering our time preference" - SA [58:59] "The 20th century was a global trainwreck of watching the money preference rise. Generation after generation... witnessed their money devalue" - SA [01:02:32] Why some efforts in energy production are misguided [01:06:39] The Fiat Standard [01:10:29] Why are we allowing people to mine bitcoin? [01:12:46] The genius that went into the production of the Bitcoin code [01:23:14] The crazy reality of decision-making at climate change panels [01:26:36] Fiat-based currency jobs and the Zoom warriors disconnected from the physical world [01:31:09] "A lot of the problems of the 20th century, in my opinion, have their roots in highly inflationary fiat currency" - SA [01:31:18] Covering some of the common objections against Bitcoin [01:39:45] "We are always going to find more reasons to print money" - SA [01:41:43] Ammous’ online learning platform [01:48:29] The growth of Saifedeen.com and the parameters attributed to its success [01:50:05] The possibility of decentralizing societal accreditation [01:50:21] "I've talked to seriously wise academics who know that there is almost zero financial knowledge in universities [today]... There is tremendous residual value, however, in the accreditation" - JP [01:56:18] Wrapping up #Crypto #FiatStandard #Bitcoin #JordanPeterson #Decentralization Learn more about your ad choices. Visit podcastchoices.com/adchoices

Episoder(581)

The Great Sacrifice: Abraham and Isaac

The Great Sacrifice: Abraham and Isaac

Lecture 12 in the Psychological Significance of the Biblical Stories series In this, the final lecture of the Summer 2017 12-part series The Psychological Significance of the Biblical Stories, we encounter, first, Hagar's banishment to the desert with Ishmael and then the demand made by God to Abraham for the sacrifice of Isaac. To sacrifice now is to gain later: perhaps the greatest of human discoveries. What, then, should best be sacrificed? And what might be the greatest gain? Learn more about your ad choices. Visit podcastchoices.com/adchoices

7 Sep 20172h 41min

Sodom and Gomorrah

Sodom and Gomorrah

Lecture 11 in the Psychological Significance of the Biblical Stories series. Often interpreted as an injunction against homosexuality (particularly by those simultaneously claiming identity as Christians and opposed to that orientation), the stories of the angels who visit Abraham, bless him, and then rain destruction on Sodom and Gomorrah are more truly a warning against mistreatment of the stranger and impulsive, dysregulated, sybaritic conduct. Learn more about your ad choices. Visit podcastchoices.com/adchoices

4 Sep 20172h 39min

Abraham: Father of Nations

Abraham: Father of Nations

Lecture 10 in the Psychological Significance of the Biblical Stories series. The Abrahamic adventures continue with this, the tenth lecture in my 12-part initial Biblical lecture series. Abraham's life is presented as a series of encapsulated narratives, punctuated by sacrifice, and the rekindling of his covenant with God. Learn more about your ad choices. Visit podcastchoices.com/adchoices

31 Aug 20172h 36min

The Call to Abraham

The Call to Abraham

Lecture 9 in my Psychological Significance of the Biblical Stories series. In this lecture, I tell the story of Abraham, who heeds the call of God to leave what was familiar behind and to journey into unknown lands. The man portrayed in the Bible as the father of nations moves forward into the world. He encounters the worst of nature (famine), society (the tyranny of Egypt) and the envy of the powerful, who desire his wife. Learn more about your ad choices. Visit podcastchoices.com/adchoices

25 Aug 20172h 43min

The Phenomenology of the Divine

The Phenomenology of the Divine

Lecture 8 in the Psychological Significance of the Biblical Stories series. In the next series of stories, the Biblical patriarch Abram (later: Abraham) enters into a covenant with God. The history of Israel proper begins with these stories. Abram heeds the call to adventure, journeys courageously away from his country and family into the foreign and unknown, encounters the disasters of nature and the tyranny of mankind and maintains his relationship with the God who has sent him forth. Learn more about your ad choices. Visit podcastchoices.com/adchoices

22 Aug 20173h 12min

Walking With God: Noah and the Flood

Walking With God: Noah and the Flood

Lecture 7 in the Psychological Significance of the Biblical Stories Lecture Series. Life at the individual and the societal level is punctuated by crisis and catastrophe. This stark truth finds its narrative representation in the widely-distributed universal motif of the flood. Learn more about your ad choices. Visit podcastchoices.com/adchoices

19 Aug 20172h 38min

The Psychology of the Flood

The Psychology of the Flood

Lecture 6 in my Psychological Significance of the Biblical Stories lecture series The story of Noah and the Ark is next in the Genesis sequence. This is a more elaborated tale than the initial creation account, or the story of Adam and Eve or Cain and Abel. However, it cannot be understood in its true depth without some investigation into what the motif of the flood means, psychologically, and an analysis of how that motif is informed by the order/chaos dichotomy. Learn more about your ad choices. Visit podcastchoices.com/adchoices

19 Jul 20172h 44min

Cain and Abel: The Hostile Brothers

Cain and Abel: The Hostile Brothers

Lecture 5 in my Psychological Significance of the Biblical Stories lecture series The account of Cain and Abel is remarkable for its unique combination of brevity and depth. In a few short sentences, it outlines two diametrically opposed modes of being -- both responses to the emergence of self-consciousness and the knowledge of good and evil detailed in story of Adam and Eve. Cain's mode of being -- resentful, arrogant and murderous -- arises because his sacrifices are rejected by God. Learn more about your ad choices. Visit podcastchoices.com/adchoices

4 Jul 20172h 38min

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