George Selgin is a senior fellow and director of the Center for Monetary and Financial Alternatives at the Cato Institute and Professor Emeritus of Economics at the University of Georgia. His research covers a broad range of topics within the field of monetary economics, including monetary history, macroeconomic theory, and the history of monetary thought. He joins us to talk about his recent debate on the prompt of "Can Bitcoin Replace Government-Issued Money" with Saifedean Ammous at the SoHo Forum as well as other monetary and economic topics.
George's Twitter: https://twitter.com/GeorgeSelgin
SoHo Forum Debate: https://www.youtube.com/watch?v=MN4kl...
Show Notes:
3:20 Money needs alternatives
4:45 Bitcoin offers competition
6:40 Fiat Money depreciates over time
7:30 Price appreciation is not sufficient for a MoE
10:00 How do layers fit into bitcoin?
14:20 Tremendous network effects
16:00 Central banking bitcoin?
18:40 Bitcoin banking in general
21:00 Networks: gold vs. wampum
24:00 The role of hyperinflation
25:00 Legal tender = demand stimulator
26:00 Network measuring
29:00 The edge and the center
32:20 Venezuela
40:00 Censorship resistance
47:00 Don't confuse investments with money
50:00 Facebook's Libra
58:00 Bank operating hours and why the FED doesn't want you to know about them
Originally published by CoinSpice on October 8, 2019.