Monday Night Konsensus #5 What will cryptocurrencies do to banks?

in #cryptocurrency5 years ago (edited)

The topic 23.4.2018 What will cryptocurrencies do to banks?
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Monday Night Konsensus live at Youtube and Twitch19:00 every monday Finnish time. Normally the show is in Finnish but this time we had an honoured guest from Deutsche Bank. Join us listening this talk about how will blockchain technology and Bitcoin shape the future of banks?.

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Today in Monday Night Konsensus: Max Hillebrand from Deutsche Bank and Sami Miettinen from Sisu Partners. Hosted by Niko Laamanen.

0:00 Intro of Sami
2:01 Intro of Max
5:20 Overview of the panel
6:27 Sami briefly describes his presentation about digital Euro
10:32 Can Fiat money be saved by decentralization?
19:26 What problem are cryptocurrencies solving?
23:10 is there a need for a physical form of money?
29:22 What makes a good money?
35:24 Are cryptocurrencies putting banks out of business?
40:03 How does a future bank do business?
43:16 Should we roll back "bad" transactions?
45:28 Post-Fiat society / zombie apocalypse taxation meme
47:03 Will central banks want to use blockchain technology?
47:58 FedCoin
49:49 Voluntariasim and Taxes
54:34 Is Proof of Work wasteful in terms of energy consumption?
58:42 Is a 51% attack a real threat?
1:03:31 Can other consensus algorithms replace POW?
1:05:26 What consensus algorithm would go with crypto Euro?
1:06:08 The Byzantine General's Problem
1:07:46 What needs to happen before mainstream adaptation?
1:10:25 Self-regulation in cryptocurrencies
1:13:30 Will Bitcoin volatility decrease as the userbase grows?
1:19:33 Anecdote: Which will be more valuable in 10 years? 1$ or a square of toilet paper?
1:20:13 Why is Austrian economic theory so widely supported and Keynesian almost shunned in the Bitcoin community?
1:27:13 Bitcoin brought scarcity to non-scarce world
1:28:10 Voluntary money protocols and the age of digital scarcity
1:29:58 Can microeconomics and macroeconomics be combined using cryptocurrencies?
1:36:55 Which incentivizes people better, inflation or deflation?
1:45:15 People won't stop existing if the money is deflationary
1:45:42 How Bitcoin changed Niko's life?
1:48:20 Hyperinflation
1:50:03 Lending with inflationary and deflationary money
1:54:20 Can taxation and redistribution survive the cryptocurrency revolution?
1:59:22 Will opt-in taxes make nation states fail?
2:01:09 Blockchain could provide transparency for government funding and voting in elections but is it wanted?
2:02:46 Anecdote: Future unit of account could be lambos
2:03:35 Questions from the audience

More about our guests on this show:


Sami's links:

Mervyn King, BoE, The End of Alchemy


Nicholas Taleb, Antifragile

Tekijäfoorumi - Rohkeus neuvotella - Sami Miettinen


Max's links:

Rothbard & Mises on the Theory of the Trade Cycle and Money:

Mises on Socialism:

How to reach Konsensus:


Pelkkä tiedotus:

Konsensuksen bitcoin-osoite

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