The Bitcoin Standard

This episode is brought to you by:

Paxos. Paxos offers your customers crypto buying, selling, transferring, and more with easy-to-integrate APIs. Whether you’re a small fintech or a large financial institution, Paxos takes care of everything in the backend – from licensing and compliance to custody and exchange. You can start offering crypto to your customers within months. To learn more, visit paxos.com/patrick.

[00:02:10] – (First Question) – Explain Sound Money

[00:04:25] – Examples of hard vs easy money

[00:07:36] – The even money trap

[00:09:36] – The benefits of hard money vs today’s standards

[00:14:05] – Why this interests him

[00:16:17] – Correlation between time preference and people’s ability to succeed in life

[00:19:59] – How money markets worked in the late 18th century vs today

[00:27:57] – How he came across Bitcoin and how he thinks of it as a digital gold

[00:35:42] – How will the world transition to a sound money standard

[00:42:15] – The impacts of hyperinflation on cryptocurrencies

[00:45:04] – The idea of an orderly upgrade of the world currency

[00:48:20] – His thinking on alternative coins

[00:54:05] – What it takes to compete with bitcoin

[01:01:43] – How he diversifies

[01:04:35] – Stalling bitcoins demand

[01:06:11] – Does he apply his thinking of lower time preference elsewhere in his life

[01:07:09] – Kindest thing anyone has done for him