Podville #21 We discuss the conversation between Jordan Peterson and the four brilliant members of the Bitcoiner Book Club on how the currency relates to truth in society
Update: 2024-07-19
Description
Money is a description of value. What determines the real value of anything? — What do I assign value to? — How do I assign value? — Why do I assign value? — How actual ownership leads to taking responsibility — Brief explanation of bitcoin: A digital asset that cannot be inflated and is very hard to steal or seize. — Fiat currency is currency backed by government credit and police force only. It makes inflation possible; inflation moves the wealth of society from the working classes to the asset-owning classes (the rich). — How fiat currency is increasing prices when they should be declining as we get more and more productive (through factories, mechanized agriculture, internet) — How perception of scarcity increases social divisiveness — What will money look like in the future? — How until bitcoin no one ever really owned anything (gold, real estate) without the protection of others (the law) — How actual ownership leads to taking responsibility — No fiat currency ever started out as the currency; it was always a bait and switch game. — What would be a more reliable indicator of value: the collective consciousness of millions of people (the open market) or a few politicians and bureaucrats? — because the free market is a true democracy in which people vote by buying and selling, fiat currency must be imposed by violence; it is also violation of free speech — fiat currency is a pyramid scheme in which those in higher tiers are constantly enriching themselves at the expense of those in lower tiers — fiat money is said to be good to prevent people from hoarding. Is hoarding a bad thing? — Hoarding versus investing. — How a fundamental principle applies from the micro to the macro. (Example: private debt and government debt.)
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