Bitcoin: The Financial Singularity with Austin Hill
“The singularity is a point on an exponential curve whereby change starts to happen at exponential rates that you just can’t predict and you can’t understand. If we don’t figure out how to use Bitcoin to lift everyone’s economic ladder up… then the risk factors to the future are just too high.”
— Austin Hill
Location: New York
Date: Wednesday 8th December
Company: Former CEO of Blockstream
Role: Entrepreneur, VC & Cypherpunk
It is a common refrain that we are living in unprecedented times. Yet, the most inconceivable changes to society are ahead of us. A confluence of exponential forces could see our species either flourish or wither. The changes that these forces will bring are fast approaching.
A technological singularity is predicted to occur in a generation: innovations will bring rapid change that is both bewildering and uncontrollable. These technologies will become increasingly cheaper and ubiquitous such that the risk profiles associated with misuse will grow significantly.
At the same time, we risk seeing the traditional financial systems shatter as exponential growth in debt finally becomes unsustainable and deflationary pressures finally dominate to destroy traditional credit systems.
Bitcoin can’t solve all these problems, but it is a central part of the toolbox of solutions.
In the second of two interviews, I talk to Austin Hill, the entrepreneur, cypherpunk & venture capitalist. We discuss the singularity and vulnerable world hypothesis, how technology can strengthen totalitarianism and the role of Bitcoin in harm reduction.
This episode’s sponsors:
Gemini – Buy Bitcoin instantly
BlockFi – The future of Bitcoin financial services
Sportsbet.io – Online sportsbook & casino that accepts Bitcoin
Casa – The leading provider of Bitcoin multisig key security.
Ledger – State of the art Bitcoin hardware wallet
Compass Mining – Bitcoin mining & hosting
LVL – Bank on Bitcoin
BCB Group – Global digital financial Services
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