Bitcoin: The Perfect Machine with American HODL

“In the long run, Bitcoin will have been a story about when a bunch of imperfect humans met a perfect machine, and what happened - that’s the story of Bitcoin.”— American HODLIn this interview with American HODL, we discuss escaping from social media echo chambers, stablecoins and altcoins, whether free speech has limits, Bitcoin’s current price activity, the need for reasoned thinkers in Bitcoin, and the protocol being a perfect machine. - - - - Bitcoin’s volatility remains a persistent feature: all-time highs are followed by precipitous falls and statements of its imminent demise. And yet, many Bitcoiners unwaveringly advocate for people to continue to hodl through these cycles. Whilst their advice has been proven right many times, it’s appropriate to be testing such convictions during a bearish period for Bitcoin. Many see the current price fluctuations as a positive sign that the asset is maturing, and it is now subject to the same macro headwinds as other globally significant investment vehicles. Hodlers faith is rooted in a maximalist sentiment: Bitcoin was a “zero to one” moment. Other versions don’t and won’t match its elegant design, clarity of purpose and first-to-market network effects. The issues emanating from algo stablecoins and projects offering wild returns have vindicated and hardened these positions. But does that mean it’s Bitcoin or bust? Stablecoins do have utility for those living in countries suffering currency debasements. So, can stablecoins support people as a short-term fix to economic crises, whilst Bitcoin is the longer-term solution?What about the current state of Bitcoin Twitter and the wider discussions about freedom of speech? Toxicity and unoriginal talking points cast Bitcoin’s community in a poor light; can a new wave make a compelling case with an authentic voice? Further, whilst freedom of expression is a pillar of Americanism and a bulwark against the rise of China, should all speech be free?Irrespective of these issues, American HODL is holding the line. He believes Bitcoin will transcend other assets and innovations. He believes it is an unstoppable perfect machine. This episode’s sponsors:Gemini - Buy Bitcoin instantlyBlockFi - The future of Bitcoin financial servicesBitcasino - The Future of Gaming is hereCasa - The leading provider of Bitcoin multisig key security.Ledger - State of the art Bitcoin hardware walletCompass Mining - Bitcoin mining & hostingCake Wallet - Open-source privacy focused Bitcoin walletBCB Group - Global digital financial Services-----WBD517 - Show Notes-----If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:Become a Patron and get access to shows early or help contributeMake a tip:Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2SQR Codes: BitcoinIf you do send a tip then please email me so that I can say thank youSubscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS FeedLeave a review on iTunesShare the show and episodes with your friends and familySubscribe to the newsletter on my websiteFollow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTubeIf you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.