How Bitcoinization Happens - Robert Breedlove & Parker Lewis
In this video, Robert Breedlove, author of "The Number Zero and Bitcoin" and "Masters and Slaves of Money" and Parker Lewis, author of the "Gradually then Suddenly" series of Bitcoin essays, get open about the differences between Bitcoin and traditional financial system.
They discuss how fiat perpetuates inequality, how central banking causes the problems it is supposed to fix, how everybody, including the FED, follows their incentives, how fiat money distorts pricing and communication, and how Bitcoin is free speech and a fundamental monetary right.
According to Robert Breedlove, “absolute scarcity is the perfect state of money.”
“The [current] incentive system is either guiding people toward work or toward theft. If you’re trying to get near the fiat currency spigot, you are basically benefitting from theft via inflation," he adds.
In his view, “Capitalism in its purest sense was simply not possible until Bitcoin.”
“Bitcoin is a voluntary game outcompeting this involuntary system of theft called central banking,” said Breedlove.
Speaking of central baking, Parker Lewis said that central bankers are “no skin-in-the-game academics that produce massive unintended consequences but don’t need to feel those consequences.”
2:47 How fiat money perpetuates inequality11:
10:59 How Bitcoinization happens
13:48 Are Central Bankers lying to us or ignorant?
22:41 Fiat Money is a lie
29:54 Central Banking is theft
37:38 Bitcoin as a language and freedom of speech
47:10 Bitcoin's absolute scarcity
55:25 Societal incentives toward work or theft
1:04:02 Who loses in the transition to a Bitcoin standard?
1:11:45 Does absolute scarcity require both physical and digital realms?
1:20:29 Wrap up
The conversation was live-streamed on October 6, 2020.