Saifedean Ammous is an economist and the author of The Bitcoin Standard: The Decentralized Alternative to Central Banking, which has been translated into 20 languages. In this episode, he discusses:the basic tenets of Austrian economics and why it is the only school where Bitcoin is possiblehistorical examples of currencies and how they lost their monetary valuethe stock-to-flow model and how Bitcoin fits into that modelthe three functions, or descriptive properties, of money and why Bitcoin fulfills these functionsthe concept of sound moneythe idea of time preference in economics and why he believes it is so importantthe distinction between debt and money, and why they are not the samethe significance of difficulty adjustment and why he believes it is the crowning achievement of Bitcoinwhy he views Bitcoin as the best store of value humanity has ever inventedthe metrics he watches when assessing Bitcoinwhat he thinks is in store for Bitcoin in the future, and whether he still thinks central banks will buy Bitcoin as a reserve currencyhis thoughts on Ethereum and other digital currenciesand his predictions for Bitcoin in the next yearTHE BITCOIN STANDARD TOOLKIT/SPONSORSNYDIG - https://nydig.comCyphersafe - https://cyphersafe.io/ OKCoin - https://okcoin.com/Nodl - https://www.nodl.it/Coldcard - https://coldcardwallet.com/CoinBits App - https://coinbitsapp.com/