Gradually then Suddenly Pt 2 - Bitcoin First Principles with Parker Lewis
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Gradually then Suddenly Pt 2 - Bitcoin First Principles with Parker Lewis - WBD370
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Location: Remotely
Date: Tuesday 6th June
Company: Unchained Capital
Role: Head of Business Development
When people attempt to understand bitcoin, it is easy to get caught up in some of the myths we addressed in Gradually then Suddenly Pt 1 - Killing the FUD. In this Part 2 episode, we go deeper into the principles of monetary economics.
Money solves the intersubjective problem of trade and facilitates specialisation in society. Therefore, how we solve these problems can help objectively evaluate the properties of money.
The most important property of money is scarcity, and bitcoin, with its fixed supply and monetary properties, reigns king. But from where do these properties derive? And what about other blockchains? How can bitcoin obsolete all other money?
In this interview, I talk to Parker Lewis, Head of Business Development at Unchained Capital. We discuss the principles of money, monetary convergence, and why Bitcoin obsoletes all other money.
00:04:15: Introductions
00:06:41: Bitcoin will make all other money obsolete
00:10:43: Money is a tool
00:19:22: Volatility is a hindrance to trade
00:22:42: How gold emerged as a standard
00:25:48: The importance of scarcity
00:30:24: Bitcoin as a medium of payment
00:35:21: The first principles applied to the dollar vs gold vs Bitcoin
00:41:42: Bitcoin is the perfect money
00:46:49: The existence of price and value
00:49:46: Conscious monetisation
00:58:33: Bitcoin, not blockchain
01:03:46: People still feel they're too late
01:07:40: Logic of consensus on the blockchain
01:18:43: Debunking the theory that Bitcoin is backed by nothing
01:25:30: Credibility of the fixed 21 million
01:36:55: The marginal cost to produce a dollar is zero
01:37:48: Final comments
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