The Economics of Bitcoin with Daniel J. D’Amico
Daniel J. D’Amico is the Associate Director of The Political Theory Project and a Lecturer in Economics at Brown University where he teaches and coordinates student programs dedicated to the study of institutions and ideas that make societies free, prosperous, and fair.
Episode Notes:
4:00 How governments create perverse incentives in criminal justice by manipulating incentives
5:56 FA Hayek predicted Bitcoin 8:15 Why is it important to have a money that is not controlled by the government?
12:20 Business cycles are a phenomenon enabled by fiat money 13:13 Three problems with fiat money
15:30 Will all fiat currencies collapse?
17:00 Does Bitcoin have a secret back door?
19:20 The "moneyness" of Bitcoin
24:00 The blockchain as a revolutionary technological innovation
24:50 Is Bitcoin better than gold?
26:50 How much of a threat is inflation?
30:45 Why are interest rates so low?
32:30 Low-interest rates cause business cycles
34:20 Bitcoin holdings as savings
36:00 Is Bitcoin a good currency today?
37:10 How the volatility of Bitcoin decreases with Bitcoin adoptions
38:50 How Bitcoin will win in the long run
47:50 What's your strongest criticism of Bitcoin?
49:40 Why the entire world will soon have access to Bitcoin
50:30 Will governments shut down Bitcoin?
53:20 Did China's Bitcoin ban work?