Andreas Antonopoulos and Dan Held on Bitcoin’s Monetary Policy
Andreas M. Antonopoulos, speaker, educator, and the author of Mastering Bitcoin, Mastering Ethereum, and The Internet of Money, Volumes 1, 2, and 3, and Dan Held, growth lead at Kraken Digital Asset Exchange, talk about the core features of Bitcoin's monetary policy, including how it differs from traditional central bank monetary policy, what gives it value and yet how it seems to have derived value from thin air. Plus, they talk about how the coronavirus pandemic will affect Bitcoin.
In this episode, they also cover:
- How monetary policy is defined.
- The core feature of Bitcoin’s monetary policy.
- How it differs from previous forms of money.
- Differences and similarities between Bitcoin and gold.
- Why the hard cap on Bitcoin is unique and so important.
- Difficulties in analyzing and classifying Bitcoin.
- Whether or not transaction fees alone can sustain the network once all 21 million Bitcoin will be minted in 2140.
- If Bitcoin will be able to fulfill its original vision of democratizing finance and serving as an everyday medium of exchange.
- Why they think Bitcoin has recently been more correlated with the stock market.
- Their thoughts on the stock to flow model and whether it works for Bitcoin.
- How they think the coronavirus, unprecedented quantitative easing, and increasing inflation will impact Bitcoin’s adoption and price.
- How crypto banks that don’t conduct fractional reserve banking or lending might change the economy.
The video was first published on September 29, 2020.