"People hold money to hedge against future uncertainty. This is why it is so crucial for a monetary system to optimize for minimizing its own uncertainty. Bitcoin’s purchasing power is an external quantitative risk that can be insured against, not an internal qualitative uncertainty." - Pierre Rochard

Link to the read:

https://pierre-rochard.medium.com/the-utility-of-saving-c56f7c170fc1

Check out Pierre on Twitter:

twitter.com/bitcoinpierre

Dig deeper into these ideas with an excellent piece from Hans Hoppe we covered ages ago on the podcast:

The Yield From Money Held Reconsidered: https://open.spotify.com/episode/67dqOHWLX9NRmAs4S0G9XQ?si=866f483f885a43e0

Check out our amazing sponsors below, they are among my most used products and services in Bitcoin, and have exclusive discounts and offers for the Audionauts:

Become sovereign, hold your keys, be censorship resistant with the Bitbox02 hardware wallet. Get 5% off everything in the store with code GUY (guyswann.com/bitbox)

Stack sats automatically, withdraw automatically, and learn or get help from the best team of Bitcoiners out there with Swan Bitcoin. (swanbitcoin.com/guy)

Gets sats back every time you dump fiat at a store, to pay your bills, everything in your fiat life pays you sats with the Fold Debit Card and FoldApp. 20% OFF with code BITCOINAUDIBLE (guyswann.com/fold)

Learn more about your ad choices. Visit megaphone.fm/adchoices

---

Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message