Should the use of Bitcoin as an international settlement currency continue to grow, how would the Bitcoin-based economy look? Ammous examines various historical monetary systems, from seashells to the gold standard, to draw lessons relevant to Bitcoin. As hard money comparable to gold, Bitcoin will likely lower time preference incentivizing delayed gratification, saving, investment, capital accumulation, and rising productivity. Beyond economic matters, lower time preference, and reduction in government financing through inflation, will likely lead to a strengthening of the role of the family, and the weakening of the role of the modern managerial and nanny states.
About the speaker:
Dr. Saifedean Ammous is Assistant Professor of Economics at the Lebanese American University, and Foreign Member of the Center on Capitalism and Society at Columbia University. He is the author of The Bitcoin Standard: The Decentralized Alternative to Central Banking, the first serious academic treatise on the economics of bitcoin.
Door opening: 18:30
Talk start: 19:00