Saifedean Ammous: “The Bitcoin Standard” | SALT Talks
Welcome to another episode of SALT Talks. Today’s guest is Dr. Saifedean Ammous, the author of The Bitcoin Standard: The Decentralized Alternative to Central Banking, the best-selling groundbreaking study of the economics of bitcoin. The book was a pioneer in explaining bitcoin's value proposition, and the implications of its unique properties.
As a peer-to-peer software for operating payment network, Bitcoin acts as the native currency. Bitcoin is totally protected from inflation because Bitcoin’s source code makes it mathematically impossible to exceed 21 million Bitcoins- a fixed monetary supply. The entire world was effectively on the gold standard, because it was the hardest money at the time, but more gold can continually be introduced into the supply. “Anything that gets held as a form of money, the value of it rises, and because the value rises, it gives people an incentive to make more of it.”
Bitcoin offers a way to remove the third-party intermediaries in the financial transaction. The decentralized nature of the blockchain, on which Bitcoin exists, creates security via transparency. There is no one single point of failure in the way that a third-party financial institution, entrusted with money, must secure itself from hackers or thieves.
SALT Talks provides a window into the minds of noteworthy business leaders, policy experts and innovators shaping the future. To learn more about this episode, including podcast transcripts and show notes, visit salt.org/talks
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Пікірлер: 100
Thanks for this interview. Will listen to it again and order his book. BTC store of value proposition is looking shaky, although it’s still early days.
What an amazing conversation. I love how this content is free for everyone.
Such clear presentation and precise answering of questions! I wish more people would speak like Dr. Saifedean in explaining arcane topics.
Thank you John for asking some more challenging questions regarding Bitcoin, something rather lacking on most echo chamber financial channels at the moment
Wow that was such a brilliant presentation. It’s incredible the potential Bitcoin has.
@seanliebel6306
3 жыл бұрын
He is a brilliant guy for sure!
@bregjejabra25
Жыл бұрын
@@seanliebel6306 He is very intelligent I heard from somebody who is his "friend".
We are far in quality compared to the « show » given by Kiyosaki. It was not acceptable from an host to react like that . Thank you for such an excellent conference . It comforts me to see such intelligence. Cheers .
Well done. I bought his book a couple weeks ago and am inspired to crack it open and learn even more.
@ziptrader27
3 жыл бұрын
I will advice you to invest in bitcoin trading with investor Kris Steven and make huge profits His availability is on whatsapp.
@ziptrader27
3 жыл бұрын
+-1-9-1-7-7-9-1-4-1-4-8.
Honestly one of the very best explanations I’ve come across for BTC and I was working at a major consulting firm explaining blockchain for a while. Thanks for the refreshingly simple and easy to understand view.
What a well grounded discussion! Awesome interview.
This was simply amazing. I’m sharing this with everyone
A great guest. Thanks!
Thanks for this wonderful presentation. Want to hear more from you
@rajeevmishra2338
2 жыл бұрын
Want to know the latest product like book & presentation
Thank you for embracing our world and for letting us into yours!
this presentation is the best I have seen for the new investor. simple, concise and well done.
By definition, the last miners will be state actors that will dedicate remotely built dams to generate free power for treasury reserves into sound money BTC.
I just bought your book here in brazil. In my language its stiil in pre-sale.
@daniellegler4011
3 жыл бұрын
Hellz Yeah!!!!
Thank you for all of your excellent interviews.
@ziptrader27
3 жыл бұрын
I will advice you to invest in bitcoin trading with investor Kris Steven and make huge profits His availability is on whatsapp.
@ziptrader27
3 жыл бұрын
+-1-9-1-7-7-9-1-4-1-4-8.
Bitcoin in a hardware wallet is as close as you're going get to having a genie in a lamp.
@Dasrecord
3 жыл бұрын
what a nice analogy
@brandonderrick006
3 жыл бұрын
🔥👍🏽
@BitcoinKal
3 жыл бұрын
Love it ❤️😃
@seanliebel6306
3 жыл бұрын
Yes. I truly think blockchain was created for the sole purpose of either taking down the central banking system or to replace it altogether and as Ammous certainly knows that is absolutely necessary for liberty and privacy to prevail yet again.
@brunodosreis
3 жыл бұрын
Genie does not come out until you rub it with the right 24-word pass phrase
Agree. Bitcoin is head and shoulders above the other crypto coins. BTC = store of value gold 2.0 best bearer hard asset. Alt coins are simply utility tokens like copper and silver are relative to gold.
Very informative, Detailed explanations.
Great work guys
Switzerland is sitting on piles of fast depreciating € & $. I bet it's the first country to dump both piles to move it's treasury reserves into sound money BTC & base it's fiat currency on it.
@acklin83
3 жыл бұрын
The canton of Zug is accepting tax payments in BTC and ETH by 2021. Smart move.
@seanliebel6306
3 жыл бұрын
@@acklin83 Miami also is considering the prospect of putting its Treasury reserves into BTC. I think the more that countries realize this then the better off we will be. Case in point taxes will be far lower too.
@se6586
3 жыл бұрын
Singapore is first
@gaeldesmontagnesnoires1711
3 жыл бұрын
@@se6586 wow really?
@neilbarnard735
2 жыл бұрын
Interesting hypotheses. Especially as the CHF Swissie is viewed as a strong inflation hedge currency. Bizarrely it was pegged to the Euro til 2015. 👍
Great questions.
Highly recommend his book Bitcoin Standard.
Absolute brilliant presentation and conversation! Read Saif's book in 2018 and it's a gem.
Where can we get the presentation from??
Great video. Sounds like the future of Bitcoin rests on one thing; Satoshi. The person/group has destiny in their hands if they still exist. If they do not show in next 5 years Bitcoin is the future along with layer2 mass transactions.
Fantastic
@cryptojack9611
3 жыл бұрын
CHARLES PARKER Mybroker His currently handling my crypto for me and his making me huge profit turning 2 BTC into 4 BTC in 9 days and making me $ 400,000 weekly by putting $ 50,000 indeed I'm amazed I recommend him
@cryptojack9611
3 жыл бұрын
Thanks for sharing your comment , make a note to my trusted trader Charles Parker , to help you make more profit in bitcoin and other cryptos ..
There’s three things in life that are now guaranteed: 1) death 2) taxes and 3) the scarcity of bitcoin.
@Francesco-cj3oi
2 жыл бұрын
taxes will eventually be eliminated when humans realize it's theft
@mbk928
2 жыл бұрын
@@Francesco-cj3oii guess we already realized that haha
Can you make a multipart series breaking this all down further?
@SAL-fs1mr
3 жыл бұрын
Saifedean has a podcast series, just fyi
Awesome Video thank you KZread Algo! What happens after all bitcoin are mined? Will the security implode?
@ziptrader27
3 жыл бұрын
I will advice you to invest in bitcoin trading with investor Kris Steven and make huge profits His availability is on whatsapp.
@ziptrader27
3 жыл бұрын
+-1-9-1-7-7-9-1-4-1-4-8.
Splendide/ the author didn’t give any names of companies (Coinbase, Kraken etc) we really see the intelligence and the unbiased advices.
When Saif says "sour grapes" he means "suck it"
How should I invest my time?
GOLD AND SILVER!!! 🪙🪙
The real supply, though will continue to dwindle as people lose their bitcoin or die while holding.... The circulating supply will become more and more valuable as time goes on...
Great video, I need some help understanding. I often hear people say Bitcoin is not inflationary but I am not clear what that means. Bitcoins price has been going up since it was born, isn't that inflationary or are they talking about the 21M cap only. If the price of Bitcoin is going up as we all think it will, how to I explain to my friendly skeptics that it is not inflationary? SALT Talks are fantastic!
@SAL-fs1mr
3 жыл бұрын
inflation is regarding the supply.
@ziptrader27
3 жыл бұрын
I will advice you to invest in bitcoin trading with investor Kris Steven and make huge profits His availability is on whatsapp.
@ziptrader27
3 жыл бұрын
+-1-9-1-7-7-9-1-4-1-4-8.
@jaavisu
3 жыл бұрын
@Ken Anklovitch Just show them these photos... steemit.com/bitcoin/@abdelhamidtsouli/inflation-steals-your-money-how-to-stop-it-michael-taggart
@Tonysmithmusic
3 жыл бұрын
the US dollar has lost 98% of its value since its inception in 1930s, due to money printing and increasing the supply massively. bitcoin on the other hand has a fixed supply of 21 million, 900 bitcoin per day produced, this is halved every four years, most of the bitcoin that will ever exist will have been mined in the next 10 years, with a very long tail ending in 140 years. so rather than increasing supply, bitcoin decreases supply over time so it goes up in value, not down. this is even better than gold imo, although gold is scarce, it’s not limited, you can always find more gold potentially. hope this helps.
@13:00
WHY does anyone say SPECIFICALLY WHAT the MATHEMATICAL PROBLEM is OR HOW/WHERE can we find what the MATHEMATICAL PROBLEM IS to know AHEAD OF TIME WHAT TO SOLVE?
@jrd8526
3 жыл бұрын
Do some research, the info is all out there. It is a SHA-256 hashing algorithm that the mining computers are running. Too much to type here. Try searching "3Blue1Brown bitcoin" on youtube, it gives a pretty good description for the normal person.
No government is ever going to give up money creation. It is really irrelevant how hard it is to create a Bitcoins with respective to it ever being a reserve currency. With regards to international settlements the worlds central bank are never going to give up control to a system that has most of its hashing in China,. around 70%. And why pay the early adopters of Bitcoin for an international settlement system when a cartel of central bank can build there own. Bitcoin is just code and a network.
@razorblade7408
2 жыл бұрын
Who would want to use or hold a retail bank cyrpto you trust banks over protocol code which is peer to peer no 3rd party and no mass manipulation Each to there own I guess.
I love the world this economist lives where the second law of thermodynamics and entropy are inconsequential. I wonder what was the thesis if his engineering degree...
Cryptocurrency is a life changing investment, that once can engage in and make huge profit within a short range of time
Mostly opinion
Time was the only finite resource in the universe. Even gold is created when stars explode; but bitcoin is more scared than star stuff
43:05 not true. Ethereum already has way more than 10% liquidity of Bitcoin
Change to a better host, will help improve this program.
Bitcoin is superior and will dominate
I agree with most of what Dr. Ammous says but he clearly doesn't understand energy efficiency question and saying things like 'I can't think of a better use of electricity' makes me cringe
@erkkiboy
3 жыл бұрын
How so? Im curious as to the underlying reason you don't agree 🤔
@RaistlinKishtar
3 жыл бұрын
What sucks more energy out of economy than the banking system? It triggers all the panic buying of “stuff”
@ikust007
3 жыл бұрын
@@erkkiboy indeed.
@SAL-fs1mr
3 жыл бұрын
Giving ourselves a way out of the parasitic banking system is the wisest use of energy.
@salient244
3 жыл бұрын
I'd say it's not that it's not a good use of energy, it's just whether it's the most efficient means of securing a distributed ledger we can come up with. Proof of Work was the first iteration Bitcoin invented, it's a little close minded to think it will be the best given human ingenuity. Proof of Stake looks to be the next best innovation, time will tell. Hard core Bitcoiners seem to dismiss any other innovation in this space that's not part of Bitcoin, which doesn't seem to come from an objective viewpoint. That's not to say Bitcoin won't fulfil it's potential, just that it will probably be a significant piece of a larger digital asset ecosystem.
#deandumb