Bitcoin vs Austrian Economics: A Fatal Flaw?
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Hubertus Hofkirchner and I explore whether a fixed money supply can support a complex, modern economy. Does Bitcoin needs an elastic credit layer to function long term?
Credit will always exist. So a fixed amount in a database (bitcoin) will stop retards from expanding credit and burdening the popping bubble on all users.
I feel like I should know this, but where do I get to see the full episode? đ
The full episode is on Youtube.
Knut describes SoV as MoE over time.
It's an interesting & more accurate way to look SoV.
It's a good idea, but a contradiction to his statement that value is subjective and hence, cannot be stored. But i'm sure he'll soon come up with a perfected phrase. (No pressure, Knut âşď¸)
âOver timeâ brushes over the requirement of building an institutional MoE layer on top of base money which then serves mostly as UoA and redemption fulcrum.
Yes, that takes time.
Like growing wheat. It takes time but wonât happen if you donât put in some work first, i.e. farming.
I think he's just expressing that SoV isn't distinct from MoE.
It's become popular to focus on the importance of Bitcoin as MoE or as a SoV. I believe his point is that you can't seperate 1 from the other.
Best look at it as a scale.
1. MoE (indispensable)
2. SoV (some better, some worse)
3. UoA (ultimate network effect for just one)
