Top Highlights of Stephan Livera Podcast Episode 111 with Michael Goldstein

GiveBitcoin is happy to sponsor the written transcript of the Stephan Livera Podcast. Stephan hosts world-class interviews with the top individuals pushing Bitcoin forward while keeping Austrian Economics front and center.

Episode 111 features Michael Goldstein aka Bitstein. Michael is the co-founder of the Nakamoto Institute and co-host of the Noded Podcast. Stephan has a great point that new Bitcoiners may have missed some great early articles so in this episode, Stephan and Michael review the most influential articles from the Nakamoto Institute crash course.

End the Fed: Hoard Bitcoins by Pierre Rochard

“This came out on February 19th, 2013. I think it was very clear from a number of different angles, why traditional approaches to defeating the dollar hegemony was a fool’s errand. It goes from Ron Paul chanting, “End the Fed!” to Ron Paul wanting to maybe audit the fed and nothing ever happens. It doesn’t matter how much political lobbying you do, they have every reason not to share that information with you, let alone just shut the thing down.”

– Michael Goldstein

The Bitcoin Central Bank’s Perfect Monetary Policy by Pierre Rochard

“This was written December 15th, 2013 and our friend Saifedean Ammous has said that his book is effectively just the book-length version of this article, to give people a feeling for how influential this has been.”


– Michael Goldstein

The Correct Strategy of Bitcoin Entrepreneurship by Daniel Krawisz

“This was May 16th, 2014. Bitcoin has a better return than pretty much any Bitcoin business you’re going to be able to create. The correct strategy of Bitcoin entrepreneurship is to devote some of your resources, let’s say like 10% or something, towards making Bitcoin more valuable as a whole.”

– Michael Goldstein

The Problem with Alt Coins by Daniel Krawisz

“The problem with altcoins, was written on August 22nd, 2013. 

There was all these different coins that were coming out, and for the most part, a lot of them you’d, go on Bitcoin Talk and there would be a announcement thread and it would basically be a template where someone would say, “Oh, well this coin, it has this logo, it has this name, it uses this hash. It has this many coins, and this block time.” And everyone was just differentiating each other based on those same variables, which in a sense, none of those matter.

It’s taking the shell of what Bitcoin is, and trying to just slap a different branding on it and throw it out there, and somehow think that that’s going to do just as well, when it’s missing these key elements of what Bitcoin is, which is money, and creating the network effects of money.”

– Michael Goldstein

Bitcoin Has No Image Problem by Daniel Krawisz

“This was written February 25th, 2014. It was the Silk Road that that piqued my interest in Bitcoin and made it a real thing. That’s coming from someone who doesn’t do drugs, doesn’t condone drug use. But I can’t help but like libertarian, free markets. And so seeing the Silk Road actually excited me.

So how could that possibly be a problem for its image when it was the thing that was bringing me into Bitcoin in the first place? If it was just another PayPal, that’s not special.

What’s special is that you have a good that’s so interesting that people are willing to commit crime to get their hands on it.”

– Michael Goldstein

Bitcoin’s Shroud of Subtlety and Allure by Daniel Krawisz

“This was written in June of 2014 and this article is giving an alternative perspective, which is, in order to attack Bitcoin, you need to know what Bitcoin is capable of doing.”

– Michael Goldstein

Everyone’s a Scammer by Michael Goldstein

“This is the full culmination of appreciating that Bitcoin is going to happen. Hyperbitcoinization is imminent, and you must prepare. Now, if it’s imminent, then you have to reckon with the fact there are only 21 million Bitcoins. And if you send them somewhere, there’s no guarantee you will get them back.”

– Michael Goldstein

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