A little pushback on Mallers dismissing the role or centrality of the role of agreement in money. Some thoughts I had as I heard Mallers dismiss that lense on money.
We could all get together and dig out 8 billion pounds of sand and give each person a pound and then agree to use that sand as money but no other. So we agree that nobody will use any other sand as money. That would work if we all kept the agreement.
We would likely get a situation of decentralized inflation in this case because people would likely break the agreement (because they (easily) can).
But it would work as long as nobody broke the agreement, right? So it is about agreement, is it not?
I guess it is true that with gold or bitcoin we don't need to agree not to make more of the stuff because we all know it's hard. You go ahead and try to make more, be our guest as the saying goes.
But we do still need to agree to exchange our life-energy and the fruits of that for whatever it is we use as money. That agreement is necessary. Some classes of objects are easy to agree about this on while others are not.
The reason we can all agree to use gold or bitcoin as money is because we all agree anybody can try to create more and or that it's hard for everybody to do that.
Wowwww! Amazing interview.
Right? I sent it to a few nocoiners already.
Now we will get more musicians in to Bitcoin. Awesome
Electric Feel
In the name of Rick Rubin, let it be so.
Rick Rubin is the goat. Bout to listen
The GOAT indeed.
A little pushback on Mallers dismissing the role or centrality of the role of agreement in money. Some thoughts I had as I heard Mallers dismiss that lense on money. We could all get together and dig out 8 billion pounds of sand and give each person a pound and then agree to use that sand as money but no other. So we agree that nobody will use any other sand as money. That would work if we all kept the agreement. We would likely get a situation of decentralized inflation in this case because people would likely break the agreement (because they (easily) can). But it would work as long as nobody broke the agreement, right? So it is about agreement, is it not?
I guess it is true that with gold or bitcoin we don't need to agree not to make more of the stuff because we all know it's hard. You go ahead and try to make more, be our guest as the saying goes. But we do still need to agree to exchange our life-energy and the fruits of that for whatever it is we use as money. That agreement is necessary. Some classes of objects are easy to agree about this on while others are not. The reason we can all agree to use gold or bitcoin as money is because we all agree anybody can try to create more and or that it's hard for everybody to do that.
Read "The Bitcoin Standard," most of the book is about exactly that.
Rick Rubin is great at sitting in the role of the beginner, the everyday man, who is also humble. Perfect man for this conversation.
Exactly, man. He asked the right questions and that makes the interview a jewel for nocoiners everywhere.
If you are a fan of music and haven't checked out Rick Rubin in his other podcasts And interviews, you are missing out. Such a cool guy.
Yeah man, "Broken Record" is the bomb.
Yes. Love it. What a cool dude.
This is amazing. What an interesting combo. I love both of these guys and I bet they are more alike than one might think.