This podcast episode explores the concept of monetary policy and its evolution throughout history, focusing on the context of various forms of money including gold, Bitcoin, Ethereum, and fiat currencies. The speakers discuss the distinction between base money (M0) and derivative money (M1, M2) and highlight the ongoing evolution of monetary policy in the context of fiat currencies. They also delve into the unique monetary policies of Bitcoin and Ethereum, emphasizing the algorithmic issuance schedule of Bitcoin and the changes and events that have shaped Ethereum's monetary policy over time. The debate surrounding Ethereum's monetary policy is also explored, with a focus on the potential benefits and risks of different options. Overall, this episode provides insights into the complexities and implications of monetary policy in the modern financial landscape.
