🎙️ 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.
This episode is also on Twitter, Spotify, Fountain, Rumble and more.
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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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