Great interview. The Bitcoin Standard is one of the few Bitcoin books translated to Spanish: El Patrón Bitcoin. Unfortunately here in Ecuador most bookstores do not carry it.
Included in the defn. of what a "store of value" is that the owner of that store can defend its ownership. If you own enough gold to bring you security, it will ultimately be manipulated out of your ownership, or will simply be taken by force. So the "sov" defn. of gold is already violated for the average retailer. BTC is ultimately far less risky than gold for me. I'm tired of hearing about gold or any physical asset that provides only the appearance of security, but is ultimately completely unsecure. Great installment with Saif.
About using Bitcoin as a medium of exchange. You don't need Gretchen's law. Fiat is designed to spend. You don't want to hold it for too long. Abd Bitcoin is designed to save as it gains value over time.
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I have recently found Bitrefill which also used the the Speed and Strike (probably others) along with it own app. This allows to buy fiat gift cards. Here in Ecuador it is limited but I think in the US that you can buy most of the major gift cards like for Amazon. This way you can use bitcoin to fuel your fiat.
Am I missing something? At 7 transactions a sec, it would take several decades for 8 billion people to each do a single transaction. Just to get everyone a wallet that doesn’t have one, even if it’s opening a lightning channel, it would take 30-50 years, assuming those were the only transactions occurring on the network during that time!
Yes, you are missing something. The lightning network and possibly other layer two solutions are coming along very well. I rarely transact on the main chain. Eventually for every transaction on the base bitcoin network there can be thousands on lightning. Try mutiny, Zeus, Aqua.
he has it wrong. scarcity does not lead to value. wombat shit is very scarce! utility leads to value. a payment system based on BTC would be disastrous due to its long transaction time and cost. and you cannot even have a smart contract on it. BTC is yesterday.
@@srileo you obviously need both. scarcity along won't cut it. aluminium was a very precious metal in Napoleonic France precisely because of that and Warren buffet is very bullish on copper. not for nothing
