Idea of Central Banks Buying Bitcoin is ‘Far-Fetched’ – Saifedean Ammous (Interview) Idea of Central Banks Buying Bitcoin is ‘Far-Fetched’ – Saifedean Ammous (Interview)

Idea of Central Banks Buying Bitcoin is ‘Far-Fetched’ – Saifedean Ammous (Interview)

He explains why he is encouraging people to 'pirate' his book and why he believes central banks want nothing to do with a hard money like bitcoin.

7- How bitcoin's decentralized nature makes it far more resistant to confiscation and government control than gold is, raising the intriguing possibility that bitcoin might turn out to be the monetary basis for a free market monetary system.

In my book, I discuss why I believe the difficulty of increasing their supply makes both gold and bitcoin likely to win in a free market competition for monetary status, but it is, in my mind, understandable for Austrian economists to remain skeptical of bitcoin.

As the subtitle of my book says, if Bitcoin continues to succeed and grow, I would expect it to succeed as a 'Decentralized Alternative to Central Banking', the only technology for sending money around the world without government supervision, and the only politically neutral independent monetary policy.

Many bitcoin defenders make the mistake of attempting to compare the amount of energy consumption taking place in the banking system to bitcoin's energy consumption, in an attempt to argue bitcoin consumes less energy.

I presume people who publicly talk about Bitcoin needing rules surely understand that the only rules they can enforce on bitcoin are the ones they enforce on their own node, and that any new rules they would like to introduce to other nodes need to be presented as a Bitcoin Improvement Protocol for other network members to consider and adopt willingly.

As part of The Bitcoin Standard Research Bulletin I am writing a monthly report on an economic question related to Bitcoin available to subscribers who would like to see me write more and in more depth on critical bitcoin economic questions.


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