Bitcoin Q&A: What is the Appeal of Sound Money?
Channel: aantonop
Date: 2018-12-11

What functions of money does the current stage of bitcoin fulfill? What is the current popular use case? Why will unit of account be the last function we achieve? Which use cases will accelerate bitcoin adoption in western countries (ex. Germany)? Why should we not be so hard on speculation and hedging against devaluation? What is the appeal of sound money? Will bitcoin become a world reserve currency? Why is gold not a good medium of exchange? How do we incentivise spending of bitcoin, when the current trend is to hold? Why is HODLing simultaneously hard? Why do mainstream economists call it "hoarding" instead of "saving"?

Chapters
0:00 I run the Blockchain Centre in Australia. I wanted to ask [about] your view of cryptocurrency in
the future. It seems to me that we have moved away from this idea of using digital currency in day-to-day commerce; now it is about making money on bitcoin. Where do you see this going in the future?
4:55 Which use cases will accelerate Bitcoin adoption in western countries, more than pure speculation?
9:40 Do you think there is a possibility that bitcoin will become the world's reserve currency, essentially digital gold, and that there will be other
coins which we will use as day-to-day currency?
13:21 Since there is a limited supply of bitcoin, with more and more people hearing about it, economic theory would suggest that the value of bitcoin is trending up. So how do we incentivize the spending of bitcoin, if it is more worthwhile to hold on to it, as the value increases?
 
These questions are from the HoshoCon event, the October Patreon Q&A sessions, the Seattle 'Internet of Money' tour event, and the November Patreon Q&A session, which took place on October 11th, October 27th, November 10th, and November 17th 2018 respectively.

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:
Hard Promises, Soft Promises: Promoting Autonomy instead of Authority - https://youtu.be/UJSdMFPjW8c
The Killer App: Engineering the Properties of Money - https://youtu.be/MxIrc1rxhyI
Measuring Success: Price or Principle - https://youtu.be/mPMsbgWl9p4
Escaping the Global Banking Cartel - https://youtu.be/LgI0liAee4s
Why Open Blockchains Matter - https://youtu.be/uZPIz3ArQww
Decentralised Globalisation - https://youtu.be/QoiR4aNbTOw
Investing in Education instead of Speculation - https://youtu.be/6uXAbJQoZlE
Beyond Price: Bitcoin's Impact on the Future - https://youtu.be/rvwVbRQ5Ysc
Why I'm against ETFs - https://youtu.be/KSv0J4bfBCc
Do crypto-banks threaten hard money? - https://youtu.be/Ps78g2_3_6o
Regulation and the bank boycott - https://youtu.be/8ypH69Cb1l0
Wallet design and mass adoption - https://youtu.be/WbZX6BDZJHc
Mass adoption and peer-to-peer commerce - https://youtu.be/n9qIAEFS-Qs
Scaling strategies and adoption - https://youtu.be/dML1a_Ek9Kw
Price volatility and store of value - https://youtu.be/wzzZT95ijTo
Why I earn bitcoin instead of buying - https://youtu.be/Ci7TyD8jETY
Job opportunities with cryptocurrencies - https://youtu.be/89_p4pDlQtI
Inspiring cryptocurrency projects - https://youtu.be/WW8norCKUbE
From barter to abstract money - https://youtu.be/KYsppZoHguQ
Crossing the chasm of theoretical vs. real need - https://youtu.be/yIR0OBEAaUE
Remittances and smuggling in Venezuela - https://youtu.be/RRXecXfWARw

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.

Subscribe to the channel to learn more about Bitcoin & open blockchains; click on the red bell to enable notifications about new videos!

MASTERING BITCOIN, 2nd Edition: https://amzn.to/2xcdsY9

Translations of MASTERING BITCOIN: https://bitcoinbook.info/translations-of-mastering-bitcoin/

THE INTERNET OF MONEY, v1: https://amzn.to/2ykmXFs

THE INTERNET OF MONEY, v2: https://amzn.to/2IIG5BJ

Translations of THE INTERNET OF MONEY:
Spanish, 'Internet del Dinero' (v1) - https://amzn.to/2yoaTTq
French, 'L'internet de l'argent' (v1) - https://www.amazon.fr/Linternet-largent-Andreas-M-Antonopoulos/dp/2856083390
Russian, 'Интернет денег' (v1) - https://www.olbuss.ru/catalog/ekonomika-i-biznes/korporativnye-finansy-bankovskoe-delo/internet-deneg
Vietnamese, 'Internet Của Tiền Tệ' (v1) - https://alphabooks.vn/khi-tien-len-mang

MASTERING ETHEREUM (Q4): https://amzn.to/2xdxmlK

Music: "Unbounded" by Orfan (https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
Join the aantonop Channel: https://aantonop.io/joinaantonopyt