The Moral Case for Bitcoin with Jimmy Song

 
 

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“The moral case for Bitcoin is that you don’t have this cesspool of theft, corruption and cronyism that you do with the US dollar. Fiat money is just straight up evil, it is an institution of corruption, of theft, of extracting value from people that can least afford it; and bitcoin is one that’s way fairer.”
— Jimmy Song

SHOW DESCRIPTION

Jimmy Song is a Bitcoin educator, developer and entrepreneur. In this interview, we discuss Bitcoin’s growing political power, how Lightning has better privacy properties than Monero, why decentralisation is binary, and the moral case for Bitcoin.

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There is plenty to be concerned about in today’s world: economic, social, and political issues are compounding in severity. Solutions from governing elites are in short supply. And there seem to be bad faith actors at every turn. Imagine then a world without Bitcoin.

But whilst people may thank God (or blind serendipity) for Bitcoin, we also need to be cognizant of, and prepared for, the associated pitfalls and critical examinations.

A powerful and growing constituency of Bitcoiners, who cut across political divides, is seen as ripe for cultivating by ambitious and power-hungry politicians. How do we distinguish between genuine support for the community and exploitative manoeuvring?

Further, what about Bitcoin’s fixed monetary policy? In a time of rampant monetary and fiscal stimulus, where inevitable inflationary effects are beginning to bite, Bitcoin’s potential as an unrivalled store of value could see its adoption accelerate.

Those in the industry contend with these concerns at regular intervals. What is apparent is that Bitcoiners are kept energised by Bitcoin’s most unique utility: its strong moral underpinning. This is one of the attributes that give people faith that Bitcoin can be the basis for a better world.

TIMESTAMPS

00:04:19: Introductions
00:06:39: Dealing with differences of opinion
00:14:30: Bitcoin's growing political power
00:23:33: Monero and Lightning privacy
00:29:48: Submarine swaps
00:38:31: Altcoins and the spectrum of decentralisation
00:54:36: The moral case Bitcoin
00:58:31: How Bretton Woods imposed the US dollar on the world
01:05:31: How the Bitcoin industry has transformed
01:09:53: Final comments

 

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SHOW NOTES

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Mentioned in the interview:

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