Bitcoin Q&A: Inflation and Debt Systems
Channel: aantonop
Date: 27/03/2018

How do you see the roles of debt and inflation changing in society with the advent of cryptocurrencies? Does Bitcoin have the best monetary policy? Bitcoin and many other cryptocurrencies are not debt instruments, whereas most of the popular, state-run forms of currency today are. You can't do fractional reserve banking or issue debt with bitcoin. Airdrops / fork coins are a form of supply inflation. How do you explain the different approaches to cryptocurrencies from China and Japan?

Chapters
0:00 How do you see the roles of debt and inflation changing in society with the advent of cryptocurrencies?
3:44 Why is the japanese government pushing adoption in bitcoin and legalizing it in such positive ways and the chinese government made ICOs and exchanges illegal?
8:49 Restricted money supply in bitcoin is virtuous to create trust in the system and avoid inflation. Most economist, however, advocate for a flexible money supply so that it matches economic conditions and a need for credit. If the current fiat system inflates endless bubbles through cheap credit, doesn't bitcoin have the exact opposite problem? Two problems come to mind: 1) Future prices are unpredictable and do not match productivity either. 2) Too much deflation might discourage investment. In summary, if bitcoin is its own central bank, how do you know that its monetary policy, deeply embedded in the system, was a good one in the first place? Any advice on good readings about this issue?


The first question is from the patron-only live Q&A which took place on January 27th 2018. The second question is from the first monthly live Patreon Q&A session on November 27th, 2017. The third question is from the patron-only live Q&A which took place on February 24th 2018. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop

RELATED:
The 21 million supply cap - https://youtu.be/AABkJ55Zz3A
The Killer App: Engineering the Properties of Money - https://youtu.be/MxIrc1rxhyI
The Stories We Tell About Money - https://youtu.be/ONvg9SbauMg
The Currency Wars and Bitcoin's Neutrality - https://youtu.be/Bu5Mtvy97-4
Fake News, Fake Money - https://youtu.be/i_wOEL6dprg
The Switzerland of currencies - https://youtu.be/pV83Qmy578c
Geopolitics and state-sponsored attacks - https://youtu.be/htxPRTJLK-k
Borderless money - https://youtu.be/EZh1-ZqffOw
Price volatility, pegging, stability - https://youtu.be/9KPyflyHP6s
Divisibility and deflationary monetary policy - https://youtu.be/xhLgxX_wU6E
What happens to our bitcoins during a hard fork? - https://youtu.be/sNR76fWd7-0
Hyperbitcoinization - https://youtu.be/AB5MU5fXKfo
Separation of money and state - https://youtu.be/jGmtRA9S7_Y
A voluntary alternative to mandatory currencies - https://youtu.be/5ogv3Eya9nQ
Global financial crisis - https://youtu.be/JU3gNC_ZPKM
Fungibility, privacy, anonymity - https://youtu.be/y3s8c7YDtXU
We all started as critics - https://youtu.be/-jvefuVRwYA

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.

Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8

[NEW] THE INTERNET OF MONEY, v2: https://www.amazon.com/Internet-Money-Andreas-M-Antonopoulos/dp/194791006X/ref=asap_bc?ie=UTF8

MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042

[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388

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