S1 E3: Zack Voell on Bitcoin as a Political Mean, The Opt-In Economy, and Dating as a Bitcoiner

Zack Voell talks about the ways in which Bitcoin can change international relations and politics, offers more insights on his background in Austrian economics, and reveals what it's like to have a dating life as a bitcoiner. This interview marked the first crossover between shows, as at the time Zack was doing the Coin Pod. The plan was to feature the episode on both shows, but he never published this interview on his. Also, this is Zack Voell before he joined Blockstream and Compass Mining: just a university graduate whose fascination for Austrian economics has led him down the Bitcoin rabbit hole. What makes this episode a must-listen: As fresh university graduates, Zack and I talk about Bitcoin in relation to international relations and global politics. It’s exactly the kind of conversation that I would have had on every episode had I stuck with the “Bitcoin in Politics” name. The element of surprise: Dating as an outspoken bitcoiner just a month after the capitulation phase of the bear market was a rough experience. And at the time, Zack was describing part of it in his tweets. In this episode, you get to hear some spicy details about having a personal life when you’re basically married to Bitcoin. Time stamps: Podcast Introduction (00:00:48) Hosts Vlad and Zack introduce the crossover episode and set the stage for their discussion. Bitcoin and International Affairs (00:01:55) Exploring Bitcoin’s role in international politics, sanctions, and its potential as a global currency. Academic Backgrounds and Discovering Bitcoin (00:02:24) Both hosts share how their studies in political science and economics led them to Bitcoin. Media Narratives and Early Bitcoin Perceptions (00:04:00) Discussion of early media skepticism, darknet associations, and personal curiosity about Bitcoin. Bitcoin as a Parallel Economy and Sanctioning Governments (00:06:54) Bitcoin’s resilience, its use as a tool against abusive governments, and the concept of a parallel, decentralized economy. Opt-in Nature of Bitcoin and Bear Markets (00:07:53) Voluntary participation in Bitcoin, the experience of bear markets, and the deeper value beyond profit. Bitcoin as a Monetary System and Voting with Your Feet (00:09:40) Bitcoin as a new way to “vote” with money, offering an alternative to fiat systems. Historical Parallels: US Dollar and Bitcoin Governance (00:13:08) Comparing the origins of the US dollar and Bitcoin, and their respective governance structures. Nakamoto Consensus vs. American Federalism (00:14:08) Similarities between Bitcoin’s consensus mechanism and the US federal government’s checks and balances. Bitcoin’s American Roots and Global Impact (00:18:51) Bitcoin as an American invention, its paradoxical role in US foreign policy, and global adoption stories. Cypherpunks and the Development of Bitcoin (00:23:32) Tracing Bitcoin’s origins to American and international cypherpunks and cryptographers. Adoption Paradox: Where Bitcoin Is Needed Most (00:27:49) Why Bitcoin adoption is higher in developed countries, despite greater need in oppressive regimes. Founding Fathers, Gold, and Fiat Critique (00:31:29) Historical US policies on gold, the Founding Fathers’ views, and parallels to Bitcoin’s philosophy. Fiat Inertia and Bitcoin’s Radical Alternative (00:37:28) How fiat systems became the norm, and Bitcoin’s reintroduction of alternative monetary ideas. Enlightenment Thinkers, Property, and Money as Trust (00:39:22) Reflections on Rousseau, Voltaire, and the role of money in building trust and communities. Education, Money, and Critical Thinking (00:44:15) Lack of monetary education, rational ignorance, and how Bitcoin prompts deeper questions. Bitcoin’s Interdisciplinary Appeal and Community (00:47:09) Bitcoin’s relevance across disciplines and its role in creating new communities based on trust. Always a Bitcoin Noob: Learning Never Ends (00:51:50) The ongoing learning curve in Bitcoin, and the difference between genuine learners and self-proclaimed experts. Dating, Social Life, and Bitcoin (00:55:06) Personal anecdotes about dating and the challenges of explaining Bitcoin to newcomers. Giving Bitcoin as a Way to Spark Curiosity (01:03:17) Using small Bitcoin gifts to encourage others to learn and engage with the technology. Rumors: Russia, Reserve Currencies, and Credibility (01:06:01) Discussion of rumors about Russia adopting Bitcoin as a reserve asset and evaluating source credibility. Who Will Adopt Bitcoin First? (01:13:34) Debate on whether privileged or disadvantaged populations will drive the next wave of Bitcoin adoption. Paradigm Shift: Store of Value to Freedom Tool (01:16:31) Bitcoin’s narrative shift from store of value to a tool for free speech and financial independence. The Four Freedoms of Money (01:19:41) Bitcoin’s ability to provide fundamental monetary freedoms compared to fiat currencies. Convenience vs. Responsibility in Bitcoin (01:22:19) The trade-off between centralized convenience and the personal responsibility required by Bitcoin. Trust, Responsibility, and the Future of Bitcoin (01:25:34) Bitcoin’s shift of trust from institutions to individuals, and the societal implications of this change. Closing Remarks and Reflections (01:27:23) Vlad and Zack reflect on the conversation, the value of exchanging ideas, and plans for future episodes.