YouSaid · the spoken record

Allen Farrington

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56
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2024-10-16
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2024-10-16
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  1. “Yeah, well, so Safe's point in either hyperBitcoinized world on a Bitcoin standard or just on a sound money standard. So kind of having stripped out fiat by whatever means you think, you know, whether it's purely in theory or, as we all hope, is likely going to happen with Bitcoin, just who knows how long away. His point is that it's almost more easily understood in the negative, I guess, because this is like a weird aberration of fiat, that this idea that you can even have a risk-free rate at all, even as a concept, never mind is something that's like intermediated by a commercial bank. The idea of a risk-free rate is kind of obviously nonsense because in order to get any kind of return, any kind of yield on investment, you have to take risk. I mean, it almost seems so obvious that it's like weird you need to explain this, but you do in fiat because there is in fiat such a thing's a risk-free, right?”

    2024-10-16 · We Study Billionaires · BTC204: Stablecoins vs Bitcoin w/ Allen Farrington (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  2. “I do pride myself on my posting. I will say there's a lot of things that I'm, that's the thing I'm best at, basically. That's where I think I genuinely do rank amongst Deli.”

    2024-10-16 · We Study Billionaires · BTC204: Stablecoins vs Bitcoin w/ Allen Farrington (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  3. “And Sailor was maybe more talking about how you play the process of monetization and like what to do in the meantime. Maybe talking past each other a little bit Steel Mannings says, well, it's not even really Steel Manning because I agree with it, but making the case as strongly as possible as to even if sailors write that there is a way to game this to kind of arbitrage the monetization process, why that will eventually go away and why a lot of Bitcoiners reacting to it, including me sarcastically, are just like completely have this sort of repulsion almost to like the idea of risk-free yield. So yeah, exploring that. So I don't know which of those sounds, the most.”

    2024-10-16 · We Study Billionaires · BTC204: Stablecoins vs Bitcoin w/ Allen Farrington (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  4. “Care about it, including him, and sort of how he's ended up in this position of talking about it in this way. That's maybe a bit more philosophical, I guess, but that it's worth being clear on for sure. And then I guess Steelmanning's safe's position, which is now very theoretical about post hyper Bitcoinization, like on a Bitcoin standard, will this exist. And then from what I could tell, again, I've not listened to it. You just said you haven't either. So this also may not even be accurate. This may be like out of context, even while trying to be charitable. But my impression of why they seem to disagree so vehemently was that Safe was implicitly talking about 50 plus years away or whenever we're at post hyper recognization.”

    2024-10-16 · We Study Billionaires · BTC204: Stablecoins vs Bitcoin w/ Allen Farrington (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  5. “Okay, there's a bunch of different threads I could pick up on seriously, like in attempting to actually discuss this not in the trolley way that I did on Twitter. I mean, if anyone's confused by that, though, then it's their fault for following me in the first place. Like, I don't ever say anything serious on Twitter. That was just a really, that was the thing that day. That's what I mentioned before, right? Like everyone was piling on. I just thought it was funny. I'll throw out a couple of things and then you can tell me which one you think is most interesting. The idea of borrowing against Bitcoin like how that's likely to develop, how you'll be able to, how you get yield on it. I guess maybe the spiciest one, which hopefully isn't relying on having taken Sailor's comments out of context, but I think is like pushing it a bit further or like probing a bit further. Whether you want to do that at all and if it's maybe to what extent it's defeating the purpose of why Bitcoin is good money and hence why it has any value in the first place and hence why anyone”

    2024-10-16 · We Study Billionaires · BTC204: Stablecoins vs Bitcoin w/ Allen Farrington (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  6. “In case you want to probe too or listen to it, I guess I've seen clips of it, which I think you know, which I'm totally open to the idea that they have been taken out of context, but that's life. That's Bitcoin Twitter for you. That was the thing that day that everyone got mad about. Here we are”

    2024-10-16 · We Study Billionaires · BTC204: Stablecoins vs Bitcoin w/ Allen Farrington (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT