The Bitcoin Standard Podcast Presents Saifedean Ammous Interviewed By Max HIllebrand

Welcome to the audio podcasting home of Saifedean Ammous and The Bitcoin Standard. When a pseudonymous programmer introduced “a new electronic cash system that’s fully peer-to-peer, with no trusted third party” to a small Online mailing list in 2008, very few paid attention. Ten years later, and against all odds, this upstart autonomous decentralized software […]

A Beginner’s Guide to Austrian Economics

For years I had noticed how some of the smartest people I know all tell me that they find economics very difficult to understand. Doctors, engineers, businessmen, and many other highly intelligent people would all share a similar story: “I took a few economics courses in college and did well, but I didn’t understand anything/forgot […]

Cryptocurrencies and the functions of money

I have a new working paper for the Center on Capitalism and Society analyzing whether cryptocurrencies can perform the three traditional functions of money. The paper’s abstract: This paper analyzes five cryptocurrencies’ monetary supply growth, credibility, and stability, to evaluate whether these currencies have a viable monetary role as a medium of exchange, store of […]

The Bitcoin Halving and Monetary Competition

Today witnesses the second “halving” event in Bitcoin’s history, during which the growth rate in the supply of bitcoin will drop by half, from an annualized rate around 8% to 4%. These halvings occur roughly once every four years, and ensure the supply of bitcoin continues to grow at an ever-decreasing rate. Three quarters of […]

The “blockchain technology” fiction

Four months ago I published a piece in American Banker discussing the strangely trendy topic of “blockchain technology”, in which I explain my skepticism of the entire notion that “the technology behind bitcoin” could serve any useful function for the financial intermediaries it was specifically designed to replace. Bitcoin’s technology is as useful to the banks trying […]

Academic Paper on bitcoin

Last year I published an academic paper in the Journal of Private Enterprise analyzing the economics of Bitcoin. Looking back, the parts of the paper with the most relevance today are the ones explaining the functioning of the bitcoin block-chain and the economics of the currency. Recent events make me think the discussion of smart contracts was […]