Prior to the Bitcoin 2021 Conference, Bitcoin Magazine Podcast host Christian Keroles sat down with keynote speaker and incredible Bitcoin thinker for one of his very first podcasts appearances. This interview covers two of Allens seminal works and why Farrington prefers to investigate Bitcoin’s cult... Show More
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Prior to the Bitcoin 2021 Conference, Bitcoin Magazine Podcast host Christian Keroles sat down with keynote speaker and incredible Bitcoin thinker for one of his very first podcasts appearances. This interview covers two of Allens seminal works and why Farrington prefers to investigate Bitcoin’s cultural and literature alignments over the typical framing of economics, trading and technology.
First Keroles and Farrington dive into his article The Capital Stripmine. The article is a ~30 minute read and it dives into why the current fiat system is effectively strip mining the US and current financial system of its resources. He compares what is going on in capital markets to the strip mining techniques that have become popular in modern day. Allen laments that because of fiat money’s poor incentives, civilization has taken on a growth at all cost mentality and have thrown away all regard for long term thinking and preservation.
Second he get into Allen’s blockbuster article Bitcoin is Venice, Bitcoin Is. In this article Farrington, educates the reader about the anomaly that is Venice Italy at is peak. Venice was a magical mixture of a sound money, capitalistic, and free society when many of its neighbors where still operating in futility. Venice in contrast to other large cities was a bastion for the arts, wealth, and thought. Farrington details how Bitcoin’s sounds and fair monetary properties provide a framework for humanity to return back to Venice esc conditions and hopefully prosperity.
Lastly Keroles and Farrington discuss Allen’s plan’s for his now live Bitcoin 2021 key note presentation titled, The Milk Of Paradise: Bitcoin And The Western Canon. The speech discusses how Western literature, culture, and historical lessons can all be fit into the values and properties that Bitcoin codifies into a physical network on nodes that maintain consensus in a decentralized way. Please enjoy this fascinating conversation with Allen Farrington.
Follow Allen Farrington @allenf32
0:00 - 3:16 Intro
3:16 - 4:37 The two most important books you can read
4:37 - 5:44 Allen's work in the bitcoin space
5:44 - 11:57 Allen's bitcoin story
11:57 - 15:12 Allen's non-bitcoin articles
15:12 - 17:58 How Allen fits into the bitcoin ecosystem
17:58 - 23:36 What's the difference between the internet and the web?
23:36 - 26:03 Bitcoin is a network hardware revolution
26:03 - 28:52 Allen's Bitcoin Is Venice series of articles
28:52 - 31:26 Austrian economics rejects models
31:26 - 34:38 Knowledgeable people are drawn to bitcoin
34:48 - 39:48 The Capital Strip Mine
39:48 - 41:56 The symptoms of a centrally controlled economy
41:56 - 43:24 The idea of 'fix the money, fix the world'
43:24 - 44:46 Bitcoin Is Venice
44:46 - 46:08 Why bitcoin is better than the current fiat system
46:08 - 50:01 Why is bitcoin peaceful?
50:01 - 52:32 The Economic Consequences of Organized Violence
52:32 - 53:26 Bitcoin improves upon the incentives behind violence and power
53:26 - 55:22 The Sovereign Individual and The Wealth of Networks
55:22 - 58:11 Allen's talk at Bitcoin 2021
58:11 - 59:31 Closing comments
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