Hyperbitcoinisation Can’t Happen with Mike Brock - WBD717

Mike Brock is the lead at TBD, the Bitcoin-focused subsidiary of
Block. In this interview, we discuss Bitcoin’s limitations in
solving complex societal problems, counter-arguments to the
narrative that monetary flexibility leads to falling living
standards and wasteful investments, the complexities and risks of
Bitcoin’s widespread adoption, and why, despite certain
limitations, Bitcoin still has the potential to be the most
important monetary asset in human history.


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The Bitcoin community has had to harden itself against attacks
from outside, by those either too ignorant or too invested in the
incumbent system to allow themselves to understand the brilliance
of the innovation. However, not all of those who raise issues
counter to mainstream Bitcoin opinion are either attacking the
innovation or the community. Some opinions are manifestly good
faith attempts to sharpen the arguments needed to help wider
Bitcoin adoption.


Mike Brock is someone who sits in this camp: he is an
unapologetic advocate for Bitcoin but doesn’t necessarily agree
with what could be framed as Bitcoin orthodoxy. In this podcast,
we discuss in more detail the concerns around groupthink on
certain issues, which is in turn leading to a branding issue that
seems to be affecting wider adoption.


Specifically, is there a misconception in the Bitcoin community
that Bitcoin has already won and will replace the US dollar? Has
loose monetary policy since 1971 actually resulted in reduced
living standards and significantly poor corporate investment
behaviour? Are inflationary metrics providing a real
understanding of consumer experiences? And, will a strict
monetary policy have a net positive or negative influence on
economies and societies?


Consideration of the arguments for and against deflationary or
inflationary currencies enables Bitcoin’s true potential to be
honed. However, even if Bitcoin has a long way to go before
challenging the dominance of the US dollar, it has the potential
to immediately help lift millions of people out of poverty by
providing open, effective and cheap financial infrastructure.
This means Bitcoin has a compelling narrative even within
mainstream economic and political assumptions.


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Show notes:
https://www.whatbitcoindid.com/podcast/hyperbitcoinisation-cant-happen


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