This Wednesday I had the honour to present my new book at the Hayek Institute in Vienna. Nobel prize winner Friedrich August von Hayek was probably the most popular and influential thinker of the Austrian School of Economics. He suggested the free competition of currencies that we have today back in 1976.
I am very glad that I had the chance to talk at the institute that bears his name and maintains his heritage, even in his home town Vienna. Thanks to Markus Milacek and Kryptocoins Austria and the lovely team of the Hayek Institute for making this happen!
Markus Milacek praising my book on Bitcoin and Austrian Economics
Crypto money is a hot topic, so it was no suprise that the room was packed. The Hayek institute even had to use the rooms of an art gallery in the same building, as their own space was too small. The crowd was quite mixed: young crypto enthusiasts in jeans and t-shirts as well as elderly, well-dressed ladies and gentlemen.
Thomas Bachheimer, the European president of the Gold Standard Institute, interviewed me and moderated the questions of the audience. He runs an interesting blog which not only covers gold and silver, but also cryptocurrencies. He told me that the world president of his insitute, a gentleman in his 80s, had already recommended him to have a closer look at Bitcoin back in 2011. So it's not true that gold bugs or people above a certain age do not recognise the potential of digital money.
I like the interview format a lot, it was much more lively and interesting than a standard talk. We had some vivid discussions with members of the audience who were very critical of Bitcoin. These are the discussions I like the most! One gentleman complained that I was quite polemic, which is true. I think you need to provoke the audience to trigger a good discussion. So I do not regret that I called the Euro a "scam coin", the government a "gang of robbers" (quoting Saint Augustine) and Angela Merkel "unsere geliebte Führerin" (our beloved supreme leader).
Having fun with Thomas Bachheimer
After the discussion many people went to a nearby restaurant and I learned many new things that are happening in the crypto space in Austria. The next day I visited the House of Nakamoto, the world's first shop entirely dedicated to Bitcoin and cryptocurrencies, where you can buy and sell Bitcoins via an ATM, as well as books, t-shirts and other crypto merchandise.
Magdalena Isbrandt, the head of the House of Nakamoto
Vienna, the cradle of Austrian Economics, is a beautiful city and definitely worth a trip. I am looking forward to my next visit to the city where Carl Menger, Eugen von Böhm-Bawerk, Ludwig von Mises and Friedrich August von Hayek made their important contributions to modern economics.
Thanks to Victoria Schmid (Hayek-Institute) and Andreas Jakl for the pictures.