The Peter McCormack Show

Lyn Alden is a macroeconomist and investment strategist. In this interview, we discuss currency crises, the history of money, the properties of good money, and whether Bitcoin can usher in a new era of programmable, commodity money. - - - - What is money? We are taught to critically question and evaluate the world around us. Yet, most people never query the essence of what is perhaps civilisation's most important tool. We readily accept the money we have and use it without examining its history, characteristics, or whether it could be improved and changed. We are living through extraordinary times. The world around us is in flux: established norms are being upended. Yet, the most extraordinary change is occurring without, arguably, the fanfare it deserves. Money is changing. A viable alternative to fiat currency has taken hold. An open and free, censorship-resistant currency available to anyone with qualities that surpass previous forms of money is carving out its place as the future of money. Coins and notes are examples of money we are all familiar with. Yet, shares, property, or in fact, any tradable item are also forms of money. We interact with various forms of money, and implicity utilise their attributes without proper examination. So, what are the qualities and features of money? Why do we use different forms of money? What is money? It is only through proper consideration of these questions that the unique and revolutionary properties of Bitcoin become apparent. Bitcoin is much more than just a speculative digital asset. It seeks to be the best money ever invented, combining the benefits of gold, cash, and various contemporary stores of value. More importantly, Bitcoin provides new features seeking to protect the individual in the digital age. Bitcoin may be much more than a useful tool, it could be a necessity. Hosted on Acast. See acast.com/privacy for more information.

Dan Held is the Growth Lead at Kraken. In this interview, we discuss the splintering and factionalization of the Bitcoin community, trying to be honest in a toxic environment, update on the Bitcoin supercycle, and Bitcoin application (selling, hodling, lending, and collateralizing). - - - - Bitcoin is under almost constant attack, but despite significant pressures, efforts to ensure the technology remains truly decentralised and open have been successful, in a large part, thanks to the toxicity within the bitcoin community. But those who have worked at close quarters to the Bitcoin ecosystem have witnessed a rapid evolution and segmentation of beliefs, business proposals, and market for what is still a nascent innovation. The original libertarian community that nurtured Bitcoin has been diluted by new groups. Conservatives and progressives have aligned themselves to Bitcoin with their own dogmas. In the wake of the maximalist victory in the Blocksize Wars new divisions have arisen based on divergent ideologies. Can we find a unifying narrative to coalesce these factions? Equally, the industry that has developed around the unique monetary and payment characteristics of the technology has resulted in an explosion of new products and features. No longer is Bitcoin merely a static store of value: hodlers can now lend, short, and collateralize their asset. Should we fully embrace the investment opportunities this asset can provide? Finally, the cyclical nature of the asset price has continued to evolve. Macro forces, game theory, and geo-political events are potentially aligning to create a supercycle: a new phase of adoption that could propel Bitcoin into becoming a global reserve currency to rival gold. Will those who have prevised such a future be proven right? Are we finally about to enter a phase when Bitcoin matures and becomes money for all? Hosted on Acast. See acast.com/privacy for more information.

Darin Feinstein, an early Bitcoin investor and co-founder of Core Scientific, shares insights on Bitcoin’s revolutionary triple-entry accounting and its potential for global financial transformation. He discusses the impact of Bitcoin on property rights, the challenges of combating misinformation, and the increasing scrutiny of proof-of-work mining. Feinstein also highlights how Bitcoin can offer financial inclusion in authoritarian regimes, the importance of understanding its energy usage, and the emerging support from policymakers for this evolving technology.

Alex Epstein is a philosopher and author of 'The Moral Case for Fossil Fuels' and 'Fossil Future'. In this interview, we discuss how energy abundance has enabled humans to flourish, whether climate mastery has made us unnaturally safe, and the need for more low-cost reliable energy. - - - - According to a recent survey for the UN, 64% of people believe that climate change is a global emergency. News reports are dominated by stories of floods, heatwaves, droughts, hurricanes and other events, highlighted as potential signs of a warming world. The implicit assumption is that urgent reductions in the use of fossil fuels are required to minimise the potential impacts. But increasingly, a growing collective is questioning these opinions. Exploitation of fossil fuels is linked to civilisations' rapid development in the 250 years since the industrial revolution. Yet, billions still lack access to adequate levels of energy. The concern is alternative energy sources won't be able to meet current demands, let alone demands that aren't currently being met. Furthermore, there is scepticism regarding climate change projections and forecast impacts on societies. Those who hold such views are labelled as climate change 'deniers', a pejorative term meant to imply resistance to science and facts. This is emblematic of how combative and polarised the two sides of the debate have become. Some are now refusing to engage. Perhaps, such division is understandable given the stakes. If global warming has the capacity to be an existential threat this century, then delays in curtailing fossil fuels could be catastrophic. Equally, if such warnings turn out to be wrong then we could be constraining the empowerment of billions of people. In our view, this is why we should remain engaged in the debate. Hosted on Acast. See acast.com/privacy for more information.

Shaun Connell is Executive VP of Power at Lancium and an energy trading expert focused on incorporating Bitcoin mining into energy transition services. In this interview, we discuss the fundamentals of energy trading, the need to balance energy supply with demand, and the symbiotic relationship between Bitcoin mining, renewables and the energy grid. - - - - If climate change forecasts are to be believed, the implications for society are profound. Many believe that the sources of energy that enabled our society to thrive and prosper over the past 250 years need to be replaced by alternative types of energy deemed to be more sustainable. Others fear that such a transition risks millennia of civilisational advancement. The debate around climate change and energy is therefore highly charged. And yet, there is a significant deficit in our general understanding of how the energy system works. Wind and solar are now the cheapest sources of energy, so why aren't we rapidly progressing to 100% renewable energy grids? If we need to decarbonise the grid, why do wind and solar producers have to curtail energy production? If Bitcoin mining is becoming an increasingly more significant user of energy, why are grid managers increasingly seeking to assimilate it? Whatever the reasons for the ignorance of the energy system, and whether or not it has been or will be exploited by special interests, the obvious concern is that it will lead to bad policy being formulated at a critical time. Knowledge is power. Hosted on Acast. See acast.com/privacy for more information.

Adam Curry is a DJ, internet entrepreneur, and, along with Dave Winer, the creator of podcasting. In this interview, we discuss Texas and guns, how Bitcoin features in world events, food intelligence and smarter education, as well as the origins, ethos, and future of podcasting. - - - - The ubiquity of podcasts has masked how innovative and ground breaking the technology is. In only 2 decades an idea about using RSS feeds to distribute audio blogs has now arguably become the most effective media channel rivalling both main stream media and increasingly social media. It is estimated that more than a third of Americans regularly listen to podcasts. Market forecasts suggest the industry will be worth over $2 billion in the next few years. The relative ease of production, lack of editing constraints, and its long form character, has resulted in an explosion of content. At a time when trust is in short supply, clickbait is employed over honest reportage, and toxicity is increasingly infecting discussions, podcasting is providing a desirable alternative for those seeking truth and facts. As a result, podcasting has been important to disseminating knowledge across a range of subjects. And yet, there are risks that podcasters could make the same mistakes of other media: audience capture and reliance on centralised distribution channels could undermine the effectiveness of the industry to continue to provide a valuable source of truth. Adam Curry had a critical and central role in the genesis of podcastings. Yet, his passion for the medium is as fervent as ever. He's at the forefront of both Podcasting 2.0 technical developments, whilst also being one of the industry's most industrious contributors. He was orange-pilled via podcasts, now he's using his knowledge of Bitcoin to strengthen podcasting. Hosted on Acast. See acast.com/privacy for more information.

Austin Hill is a cypherpunk & former Blockstream CEO. In this interview, we discuss the dangers of absolutism within Bitcoin's community, building consensus in promoting freedom money, and advancing the human condition. - - - - The development and adoption of Bitcoin is predicated upon a reaction to the manifest failures of current economic and political structures. The associated need to defend Bitcoin from multiple attack vectors resulted in a protective maximalist ideology. The end result is that the current Bitcoin community is dominated by big personalities with firm and unyielding convictions. Yet, maintaining an adoption curve mirroring that of the internet means proving the benefits of this innovative technology to everyone: the wider public, companies, and state-level institutions. This will require building consensus: coalescing around positive characteristics of the technology whilst working to ensure divergent opinions don't overwhelm the debate. As Bitcoin enters a more nuanced phase of maturation, a pragmatic approach to furthering its adoption and effective development may be required. Do battle-hardened Bitcoiners now need to become more politically flexible? Is it possible to find agreement with those who hold contradictory views? Is compromise possible whilst protecting Bitcoin's unique innovation? Hosted on Acast. See acast.com/privacy for more information.

Jeff Booth is Entrepreneur and Author of 'The Price of Tomorrow'. In this interview, we discuss the distortion of money, how Bitcoin can herald in a fairer system based on truth and a free market of ideas, and the transition from scarcity to abundance. - - - - Bitcoin is revolutionary. More than its cryptographic protocol, monetary policy, and decentralised technology, Bitcoin is built on promulgating truth. It is feasible that a new economic paradigm is being built that democratises knowledge and information. The old ways of spin, exaggeration, false equivalence, hustle, denial, and outright lies served the fiat system well during the 20th century. Being 'economical with the truth' became a necessary tactic of the game, employed by leaders of companies, institutions, and countries alike. The corrosive effects of increasingly systematic subterfuge were inevitably going to counter balance any fallacious societal benefits. This has become increasingly clear since the beginning of the new millennium: events and shocks have chipped away at the current economic edifice. It's not that a new system would be beneficial to society, it's rather a new system is required to enable the major issues of today to be resolved. Can Bitcoin be the basis of this new system? Hosted on Acast. See acast.com/privacy for more information.

Jimmy Song is a Bitcoin educator, developer and entrepreneur. In this interview, we discuss Bitcoin's growing political power, how Lightning has better privacy properties than Monero, why decentralisation is binary, and the moral case for Bitcoin. - - - - There is plenty to be concerned about in today's world: economic, social, and political issues are compounding in severity. Solutions from governing elites are in short supply. And there seem to be bad faith actors at every turn. Imagine then a world without Bitcoin. But whilst people may thank God (or blind serendipity) for Bitcoin, we also need to be cognizant of, and prepared for, the associated pitfalls and critical examinations. A powerful and growing constituency of Bitcoiners, who cut across political divides, is seen as ripe for cultivating by ambitious and power-hungry politicians. How do we distinguish between genuine support for the community and exploitative manoeuvring? Further, what about Bitcoin's fixed monetary policy? In a time of rampant monetary and fiscal stimulus, where inevitable inflationary effects are beginning to bite, Bitcoin's potential as an unrivalled store of value could see its adoption accelerate. Those in the industry contend with these concerns at regular intervals. What is apparent is that Bitcoiners are kept energised by Bitcoin's most unique utility: its strong moral underpinning. This is one of the attributes that give people faith that Bitcoin can be the basis for a better world. Hosted on Acast. See acast.com/privacy for more information.

Dylan LeClair is a Bitcoin and macro analyst working for Bitcoin Magazine. In this interview, we discuss the playing out of the long term debt cycle, the coming commodity wars, how Bitcoin is a lifeboat, and transitionary investments. - - - - We are living through unprecedented times, where the old ways of order are expected to crumble. And yet, life seems comfortably familiar. This can lure people into a false sense of confidence that the political, economic, and monetary norms will continue undiminished into the future. The same sense gripped German citizens during the 1920s. 'When Money Dies' documents how "Financially, for nearly four years, the ultimate cataclysm was always just around the corner. It always arrived, and there was always an even worse one on its way — again, and again, and again." And we're seeing the beginnings of such cataclysms affecting the price of living. Inflation, shortages of goods, energy price spikes, and currency failures could be mischaracterized as isolated singular events. But are they in fact, signals of a wider connected pattern of seismic shocks as the global economy adjusts to the impact of the long-term debt cycle? If Bitcoin is a lifeboat, why isn't it reflected in the price? Bitcoin is still acting like a risk asset, but for how long? Hosted on Acast. See acast.com/privacy for more information.