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Bitcoin: The Financial Singularity with Austin Hill

Peter McCormack

Interview | Description | Timestamps | Show Notes

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Bitcoin: The Financial Singularity with Austin Hill - WBD447 Peter McCormack

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Location: New York
Date: Wednesday 8th December
Company: Former CEO of Blockstream
Role: Entrepreneur, VC & Cypherpunk

It is a common refrain that we are living in unprecedented times. Yet, the most inconceivable changes to society are ahead of us. A confluence of exponential forces could see our species either flourish or wither. The changes that these forces will bring are fast approaching.

A technological singularity is predicted to occur in a generation: innovations will bring rapid change that is both bewildering and uncontrollable. These technologies will become increasingly cheaper and ubiquitous such that the risk profiles associated with misuse will grow significantly.

At the same time, we risk seeing the traditional financial systems shatter as exponential growth in debt finally becomes unsustainable and deflationary pressures finally dominate to destroy traditional credit systems. 

Bitcoin can’t solve all these problems, but it is a central part of the toolbox of solutions. 

In the second of two interviews, I talk to Austin Hill, the entrepreneur, cypherpunk & venture capitalist. We discuss the singularity and vulnerable world hypothesis, how technology can strengthen totalitarianism and the role of Bitcoin in harm reduction. 

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00:03:51: Introductions
00:04:35: The Schiffs
00:07:42: The singularity explained
00:09:21: Vulnerable World Hypothesis
00:14:39: Reducing the threat profile
00:16:30: Social media governance
00:18:25: Technology and immigration
00:21:40: Grameen finance model
00:28:34: China and technology
00:40:19: Policing technology and positive storytelling
00:43:36: Fresh approach to drug policy
00:47:14: Service-based model for future tech
00:56:45: The role of Bitcoin in governance
01:03:50: The Hypothesis solutions and re-education
01:09:15: Final comments

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