Can cryptocurrencies have an inflationary monetary policy? How do cryptocurrencies like Bitcoin fit into the global currency wars? Initially there wasn’t enough demand in the economy, but as the reward diminishes over time, bitcoin will have a deflationary monetary policy and simulate a scarce resource like gold. But you can simulate whatever monetary policy you want.
Digital currencies are now part of the currency wars, because they are giving people all over the world a choice to exit the currency wars, one of the most powerful choices you can make. Within the currency, Bitcoin will act as the Switzerland of currencies. Even if governments start making them illegal to use, this does not destroy demand. In practice, cryptocurrency use has gone up after a country has banned it. Governments are failing in their role of delivering the fundamental functions of currency. When there is a dramatic spiral in an economy, the state takes the entire country hostage. People often haven’t thought about money as a language or a technology, constructs that can be created and improved by anyone. So what if you can exit? It changes everything.
The first and second questions are from a talk which took place on July 7th 2017 at a Bloktex event hosted by the Wisma BeeOn Group in Kuala Lumpur, Malaysia: https://antonopoulos.com/event/the-future-of-money-kuala-lumpur-malaysia/
Watch the full talk here: https://youtu.be/HaJ1hvon0E0
The third question is from a talk which took place on December 3rd 2016 at the Coinscrum {MiniCon}, hosted by Imperial College in London, England: https://www.meetup.com/coinscrum/events/235709468/
Watch the full talk here: https://youtu.be/Bu5Mtvy97-4
RELATED:
The 21 million supply cap – https://youtu.be/AABkJ55Zz3A
The Killer App: Engineering the Properties of Money – https://youtu.be/MxIrc1rxhyI
Price volatility, pegging, stability – https://youtu.be/9KPyflyHP6s
Divisibility and deflationary monetary policy – https://youtu.be/xhLgxX_wU6E
Will governments ban cryptocurrencies? – https://youtu.be/LIQkuF_I5Xo
Unstoppable code – https://youtu.be/AQx3E3F8Kz4
Is Bitcoin a democracy? – https://youtu.be/TC3Hq76UT5g
The War on Cash and Crypto – https://youtu.be/BAlRKfvBnvw
The revolution in trust – https://youtu.be/iWfpxB3HZOY
Global financial crisis – https://youtu.be/JU3gNC_ZPKM
Fungibility, privacy, anonymity – https://youtu.be/y3s8c7YDtXU
Solar energy and mining in space – https://youtu.be/cusakcpa8AM
Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and well-respected figures in bitcoin.
Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/
He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.
THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8
MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042
[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388
Subscribe to the channel to learn more about Bitcoin & open blockchains!
If you want early-access to talks and a chance to participate in a monthly LIVE Q&A with Andreas, become a patron: https://www.patreon.com/aantonop
Music: “Unbounded” by Orfan (https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
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When you got to the part about giving people a choice in currency… my mouth dropped open and I sat back stunned. Fucking hell.
I hope you stay safe, banks are going to push back, stay out of their line of site.
What is his position on bitcoin vs bitcoin cash?
Interesting thoughts about currency wars and the role of government
Hi Andreas, love your videos and was wondering if we had any chance to get more updated videos from your side about recent things happening within BTC and crypto worlds struggle against the gov regulations (China banning exchanges etc), i understand processing the videos takes times etc.
Thank you.
'Individuals should be in control of their own money.' (L)
who can win the fight betwenn an inflational controlled Money and a deflational uncontrolled Money? One of them is like to wear a shitty Pampers. 🙂
Andreas, at 0:10 you are talking about bitcoin supply, i.e. increase in bitcoins in circulation due to mining. Inflation is defined differently: "a sustained increase in the general price level of goods and services in an economy over a period of time". Price of goods and services in bitcoin generally decreases, so it is a deflationary currency.
Given prices are expressed in fiat currencies, Bitcoin inflation/deflation dynamic is driven primarily by changes in bitcoin value compared to major currencies. Increase in supply by mining is irrelevant compared to current exchange rate swings.
bro bitcoin is not ilegal in venezuela.. not anymore
Why did it take over 2 months to post this video?
Thank you for all the work you do for our community. You are one of the reasons I believe in the future again.
Thanks you're one of the best educators in the crypto realm!
"We call that Zimbabwe" hahahahaha
Always great educational and high value content – thanks for doing the work your doing Andreas, all the love and support your way for enlighten in this maner! <3