In Praise of Bitcoin


Friend of the show. Ben hunt has been on an intellectual journey with bitcoin over the last year really longer. But he's been especially forced to because we're jerks and we talked to him all the time about it on twitter and so he kind of had to be but he's written a new provocative piece called in praise of bitcoin. And rather than give it a bunch of intro. I'm just going to dive in. Thanks ben for allowing us to read this on. Today's show and i'll be back in a few minutes to discuss in praise of bitcoin. One evening a few weeks ago. I was on a zoom call with a bunch of academic think tank and fed economists for a bitcoin discussion. A lot of names. You'd know if you're familiar with those circles. The most famous one being paul krugman. Who by the way. I found to be charming genuinely open-minded and surprisingly humble about the entire enterprise of academic economics. I had been invited to be on the anti bitcoin side of the discussion but they needed have bothered. Because there was no pro- bitcoin side crumlin lead with a simple question. What's the use case for bitcoin. Not a theoretical thing. But in actual use of bitcoin to solve a problem in the real world which led to an hour. Long extremely earnest and altogether unsatisfying conversation about financial transfers out of venezuela trade settlement and securitisation. On the blockchain and taylor swift's ability to control the scalper resale market for her concert tickets. All of which are real things all of which are interesting things off at your good things but none of which are got twenty busy people on zoom call at eight pm thursday night. None of which are bitcoin now. To be fair there were no old school. Bitcoin maximal is on the call or if they were. They were too intimidated to make an austrian economics. Hard money neo go bug. Bitcoin is the inevitable. Global reserve currency argument in front of paul. Krugman lol finally couldn't take it anymore. Is this really why we got on the phone tonight to talk about a novel. Form of digital rights management talk about payment transfers out of authoritarian third world countries. Are these really are questions about bitcoin. Answer of course. Not what got these academic think tank and govern comments on the phone that night was bitcoin. Trading at fifty thousand the question that everyone truly cared about but a question that everyone danced around for the better part of an hour was this. Is there any there there. In the price of bitcoin

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