THE MIKHAILA PETERSON PODCAST

Episode 29: Dr. Saifedean Ammous – The Economics of Bitcoin

“Bitcoin is financial dynamite. Nobody was complaining about the ease of use of dynamite. If you didn’t like to use dynamite, you didn’t like to use gunpowder, someone else is going to use it against you. So you better suck it up and learn how to use gunpowder.”

 

Dr. Saifedean Ammous (economist and author of The Bitcoin Standard) and I discuss trying to time the bitcoin market, dollar-cost averaging, alt-coins, and the eventuality of the bitcoin takeover.

Find Dr. Saifedean Ammous at his website:  saifedean.com, and on Twitter @saifedean

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Show notes:

  • [2:30] Dr. Ammous presents his research & teachings on his website: https://www.saifedean.com
  • [4:00] A brief background of bitcoin, a new form of money.
  • [5:00] “With bitcoin, we see the first example of digital scarcity.”
  • [5:30] “It is completely apolitical; it is a complete technological solution to the problem of money and doesn’t require a government’s permission to work.”
  • [8:00] Different aspects of bitcoin
  • [11:00] Bitcoins growth overtime
  • [13:00] How to think about bitcoin
  • [14:30] Bitcoin liquidity
  • [15:30] Market Cap of Bitcoin
  • [18:00] How to get started with bitcoin
  • [19:00] Website to get started for bitcoin: startusingitcoin.com
  • [20:30] Dollar-cost averaging – buying small amounts over longer periods of time
  • [21:00] Trying to time the market
  • [22:30] Dollar-Cost averaging bitcoin: dcabtc.com
  • [24:00] At first bitcoin was mis-evangelized
  • [29:30] Keeping a bitcoin wallet
  • [31:00] Backing up bitcoin with seeds
  • [31:30] “Bitcoin is financial dynamite, nobody was complaining about the ease of use of dynamite. If you didn’t like to use dynamite, you didn’t like to use gunpowder, someone else is going to use it against you. So you better suck it up and learn how to use gunpowder.”
  • [34:30] “The hardness of money ends up being probably the most important things about money”
  • [36:00] Alternative Coins
  • [37:00] The only thing that makes bitcoin valuable is the fact that the supply is scarce and nobody can change the supply.”
  • [40:30] “It’s a misconception that bitcoin is not trackable. Bitcoin is quite well trackable.”
  • [44:00] Saif’s carnivore diet journey
  • [46:00] Cutting out food experiments
  • [50:00] The bitcoin carnivore movement
  • [57:00] A typical day for Saif
  • [1:01:00] The work/life balance

Mikhaila Peterson (@mikhailapeterson Instagram) is a 28 year old mother, CEO, health influencer, writer and founder of the Lion Diet, from Toronto, Canada. She has put her idiopathic juvenile arthritis, severe depression (bipolar type II), and chronic fatigue (among other ailments) into remission using The Lion Diet - a beef, salt and water elimination diet. Although it may seem unorthodox, she’s thrived on it for over 2 years. Also recognized for her work with her father, Dr. Jordan B. Peterson (Canadian psychologist and author), she encourages others to take responsibility for every part of their physical and mental health, and teaches how to dramatically transform one's life by never giving up on yourself.

The Mikhaila Peterson Podcast is a podcast where host Mikhaila Peterson speaks with thought leaders, and industry changers - continually finding the best ways to improve the human experience. From stay at home mom’s to CEO’s, fitness enthusiasts to spiritual guides, nutrition researchers to health professionals - Mikhaila has interview-style conversations aimed at provoking thought, addressing difficult subjects, and speaking about topics that are generally shied away from.