Saifedean Ammous on Understanding Bitcoin Economics

Interview Location: Skype

Interview Date: Monday 15th July

Company: saifedean.com

Role: FounderWhen landing in the world of Bitcoin there are many concepts down the rabbit hole to get lost in, from technology to economics there is a wealth of information available. Within the world of economics, many will discover the theory of Austrian economics for the first time.Those who believe in Austrian Economics believe in free markets, the gold standard and minimal government intervention. So where does Bitcoin fit into this? Could it be the perfect tool to facilitate a free market Could it even become an improved and new gold standard?To find out more, I sat down with Saifedean Ammous, author of The Bitcoin Standard and an Associate Professor in Economics at the Lebanese American University. Having recently launched his online academy it was a great time for Saifedean to teach me more about Austrian Economics and catch up on our mutual love for Liverpool FC. We discuss:

- How the DCI got started

- Bugs in the Bitcoin protocol

- Proof of Work being too risky

- Ethical development on Bitcoin

- 51% attacks

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