Part 2 of Bitcoin and Austrian Economics with Daniel Krawisz

I had another discussion with bitcoin philosopher, Daniel Drawisz, about bitcoin, Austrian economics, and courage. I’ll be doing these more in the future. Listen below or subscribe to the podcast.

Podcast link:


00:00:00.000 Daniel Krawisz
00:00:51.045 People don’t know the bottom line in bitcoin
00:01:59.657 The nature of success in bitcoin
00:02:38.457 Understanding economics is understanding success
00:03:54.667 Theory vs practice of success
00:04:34.721 Can we understand success by thinking about it?
00:05:33.429 Tradeoffs
00:07:59.852 Economics lets us look at trade-offs in an abstract way
00:08:11.536 Virtue ethics and economics
00:09:24.508 Courage and bitcoin
00:10:36.808 Austrian economics professors lack courage
00:13:14.829 Peter Schiff doesn’t understand money
00:13:22.680 Austrians only think of money as gold
00:14:03.690 What does success mean in bitcoin?
00:14:58.492 How does an entrepreneur join the bitcoin economy
00:16:43.746 Price versus value
00:19:42.183 Value is what ultimately happens
00:25:58.918 When you invest in Bitcoin you get access to future entrepreneurs
00:26:39.453 Marginal utility
00:28:17.484 Diamonds versus water paradox
00:30:57.532 Unique insights about marginal utility and Austrian economics
00:33:24.543 Readability of the Austrian school of economics
00:33:37.982 Mises
00:33:39.507 Hayek
00:33:54.910 Is economics a science?
00:34:46.057 Karl popper
00:35:28.934 People make choices that maximize their own benefit
00:39:25.162 Maximize benefit versus achieve girls
00:41:15.368 Thomas Szasz
00:45:27.511 BTC price vs value
00:49:22.548 Subjectivity of various coins
00:50:07.547 Subjective enjoyment of BTC
00:51:24.213 Consumer good versus higher order good
00:55:59.926 Does the Austrian school use circular reasoning?
00:59:28.595 Form next time: profits and the entrepreneur
00:59:40.327 Socialist calculation problem

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