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Transcript
0:00
SPEAKER 4
We're going from a world with one federal reserve where the state controls the money and all these things and 30,000 fiat banks to a world with 21 million coins. No one can change that. And let's say 10 to 100 million lightning banks all over the world. That's already a massive, massive improvement.
0:15
Even if we don't even if we get no further than that, Bitcoin would have changed the world. So there'll be some new Bitcoin companies that become banks and there'll be some fiat banks that that sort of see the way the wind is blowing and decide, OK, yeah, we got to.
0:27
We've got to let our people buy Bitcoin, hold Bitcoin. Right now, the state is able to fund itself through cheap debt, right? Because they can print this money cheaply and they get all this cheap debt artificially through the printer because they control the money. In a Bitcoinized world, that's not going to be the case.

🎙️ My guest today is Stephan Livera, the host of the prominent Bitcoin podcast “The Stephan Livera Podcast”. Growing up in Australia, Stephan developed a deep interest in libertarianism and Austrian economics during his teenage years, which shaped his perspective on money and governance. In this episode, Stephan shares his journey from being a chartered accountant at Deloitte to becoming a leading voice in the Bitcoin space. We discuss his insights on Bitcoin's role in challenging fiat currency, the cultural decay caused by fiat money, and the growing adoption of Bitcoin by institutions and governments. Stephan also explores the future of Bitcoin custody, the balance between decentralization and scalability, and the implications of hyper-bitcoinization on governance, sovereignty, and society. Enjoy.

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We talked about: 

00:00 Coming Up…
01:15 Introduction & Stephan’s Background
05:44 Finding Austrian Economics as a Teenager
09:32 Immigration and Growing Up In Australia
12:37 Australia's Landscape: Energy, Woke Culture, Housing
21:00 The World’s Going Through a Moral & Cultural Decay
25:06 The Trend of Decentralizing Nation States
31:56 Living in Dubai
33:01 Migration Trends & Predictions
34:30 Stephan’s Podcast Journey
36:49 Bitcoin's Evolution: From Cypherpunks to Institutional Adoption
41:07 The Future of Bitcoin Holding: Custodial vs. Self-Custody
43:17 The Role of Banks in a Bitcoinized World
49:14 Market Cycles and the Psychology of New Investors
55:31 What People Don’t Understand About Bitcoin
1:01:09 Resources and Getting Started With Bitcoin
1:02:44 Message of Hope & Conclusion


My takeaways: 

  • Stephan’s journey into Bitcoin began in 2012, rooted in libertarian and Austrian economic ideals.

  • Bitcoin challenges fiat money and fosters decentralization, sovereignty, and competition among states.

  • Fiat currency contributes to moral and social decay, increasing reliance on state welfare.

  • Bitcoin's scalability limits mean many users will rely on custodial solutions initially.

  • Bitcoin adoption by institutions and governments may coexist with grassroots self-custody movements.

  • A Bitcoinized world reduces state power by eliminating their ability to print money.

  • Competition between countries creates opportunities for individuals seeking better governance and taxation.

  • Bitcoin’s long-term CAGR of ~65% will likely decrease over time, but it highlights its potential to still outperform traditional asset classes like real estate or stocks.

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Stephan’s Twitter | Stephan’s Website | Stephan’s Nostr nPub: npub1r8l06leee9kjlam0slmky7h8j9zme9ca32erypgqtyu6t2gnhshs3jx5dk


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Discussion about this video

Yet another great podcast and guest! Stephan has such a broad and interesting background, he is able to speak intelligently on tons of topics. Lots of takeaways from this one, but first I must say I love how you share things about yourself during these episodes (I didn't realize that you lived in Australia for a number of years!). One of Stephan's statements that really resonated with me was simply "There are cultural consequences with fiat currency." That speaks volumes on it's own. A few examples of some interesting points he made (in no particular order) was his concept that there seems to be injustice with a two-tier policing system where some peaceful protests such as anti-lockdown (COVID) or the Canadian Trucker protests are blasted by media while other more violent protests occur where cities are being destroyed and burned are allowed to happen. Agree 100%. Additionally, found the discussion contrasting monarchies and democracies interesting, as well as the idea that many government managers are more focused on how many staff they have rather than actual results. Finally, found the discussion on immigration dynamics absolutely fascinating, where people with less money from struggling countries may come to the western world for more opportunity while people in the Western world that achieve more wealth may end up going in the opposite direction to pay less taxes and have a safer environment. In short, another AWESOME episode!

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