The Peter McCormack Show
1,083 episodes — Page 20 of 22
Saifedean Ammous on Understanding Bitcoin Economics - WBD127
When landing in the world of Bitcoin there are many concepts down the rabbit hole to get lost in, from technology to economics there is a wealth of information available. Within the world of economics, many will discover the theory of Austrian economics for the first time. Those who believe in Austrian Economics believe in free markets, the gold standard and minimal government intervention. So where does Bitcoin fit into this? Could it be the perfect tool to facilitate a free market Could it even become an improved and new gold standard? To find out more, I sat down with Saifedean Ammous, author of The Bitcoin Standard and an Associate Professor in Economics at the Lebanese American University. Having recently launched his online academy it was a great time for Saifedean to teach me more about Austrian Economics and catch up on our mutual love for Liverpool FC. We discuss: Is Austrian Economics the only economic model that Bitcoin fits into? Is taxation theft? What makes a market a free market? What is money and is Bitcoin money? Will fractional reserve banking occur with Bitcoin? Will central banks adopt Bitcoin? Will improved monetary policy kill Bitcoin? Will Liverpool win the Premier League in '20?
Michel Rauchs on The Bitcoin Electricity Consumption Index - WBD126
Whenever you hear about Bitcoin in the mainstream media, undoubtedly one of the things that comes up time and time again is the power consumption needed to secure the network and which is the latest country Bitcoin has overtaken on power usage. Is this something Bitcoiners should be worried about and can the criticism be written off as a way for Bitcoin naysayers to ignore it for a little longer? Michel Rauchs recently released The Bitcoin Electricity Consumption Index to address this issue and try and put Bitcoin's power consumption into perspective. We discussed: Whether Bitcoin needs to be inefficient to work? If holding Bitcoin is using Bitcoin What is Bitcoin's carbon footprint and is it a concern How much of the power used to mine Bitcoin is renewable? If Bitcoin were to reach $1,000,000 would mining use all the available power on earth?