There comes a point in life when you ask yourself "What is this Bitcoin thing & why should I care?"
answers!
With books by
@LynAldenContact
,
@parkeralewis
,
@Matthewlysiak
& me, including The Bitcoin Standard, which sold 1 million copies in 37 languages!
Canadians pay half their income in taxes, wait 2 years to see a specialist, and bleed for 18 hours in an ER next to a dozen addicts looking for free drugs, and then rave about how awesome it is that they have "free healthcare".
Joe Rogan Goes Fully Automatic on Bill Gates Giving Public Health Advice When He Himself 'Looks Like Shit'
"He's got these breasts and this gut... [He] has access to the best nutrients, an amazing trainer... You're giving out health advice and you're sick!"
@elonmusk
Unless you've also switched your rockets and battery manufacturing to "more sustainable energy" you're going to look like a clueless big hypocrite here. The world needs sound money far more than it needs your rockets & government-subsidized electric cars.
Bitcoin consumes so much energy because it uses a fully mechanical & digital process to ascertain truth. It doesn't rely on the authority of anyone.
It isn't a more energy-intensive way of doing consumer payments; it's a less energy-intensive way of achieving consensus than war.
Global bonds are collapsing in their fiat currencies, which are collapsing against the dollar, which is fast losing purchasing power. It will be months & years before the average fiat user realizes just how much they're getting ruined financially. The "new normal" is poverty.
Happy bitcoin halving day!!
For the first time in history, humans have a form of money whose supply increases by less than 1% per year.
This is a big deal because the hardness of our money is a control knob for our time preference: the degree to which we discount the future.โฆ
Man found a fortune of old gold-backed Lebanese & Syrian money that was likely worth dozens of kilograms of gold when it was buried. Thanks to fiat, it's now worth nothing.
There is no climate crisis. There is a crisis of lack of affordable essential hydrocarbon fuels caused by the morons who believe in a climate crisis. Kindly stop being one of those morons as billions of lives depend on these fuels & you can't control the climate.
Periodic reminder:
You can download free digital copies of The Bitcoin Standard and The Fiat Standard from Library Genesis. I don't believe intellectual property can be stolen, and I think piracy is the best marketing!
If you think propaganda doesn't work, remember your average university/TV/social media consumer is worried about cow farts & an essential trace gas rising from 0.028% to 0.041% of atmosphere, while seeing nothing concerning about inflation or totalitarian medical central planning
Just recorded an intense 3 hour seminar with Michael
@Saylor
on inflation, governments buying bitcoin, bitcoin and the bond market, how to get debt to buy bitcoin & not get rekt, mining, small business bitcoin strategy & much more.
Prepare yourself, it'll be out in a few days!
Bitcoiners and shitcoiners are not on the same team. They couldn't be more different.
Bitcoiners see a once-in-a-millennium chance for the total eradication of seigniorage & monetary parasites.
Shitcoiners just see an opportunity for them to become the monetary parasites.
Everyone shocked & rekt by FTX, Luna, Celsius, and 3AC blowing up thinks Ethereum is a legitimate and sound project.
Everyone who expected FTX, Luna, Celsius, & 3AC to blow up & is unaffected by it thinks Ethereum is a doomed vaporware ponzi.
Lesson in there.
10 years ago, if you invested $10,000 in long-term treasuries & reinvested yields you'd have $11,172 today
If instead you invested $10,000 in bitcoin, you'd have $761,290
Lending money to gov'ts to kill foreigners, bail out banks & buy elections is exactly as dumb as it sounds
Bitcoin, as it is, saved my family from hyperinflation in Lebanon. It is entirely essential to my life. It works perfectly fine for me as it is. It is not some "cool" piece of software whose next iterations I'm "excited" about. It is my lifeline. If it never ads a singleโฆ
The most entertaining sport to watch over the next 2 years will be the mental gymnastics of fiat economists explaining to you why locking people at home, banning them from work, and printing trillions of dollars are actually unrelated to price rises & economic crises.
Even after this huge crash, bitcoin still beats all pretenders for long-term saving
If you spent the last 5 years saving $100 a month, here's what you would have today if you put it in:
Bitcoin: $29,212
S&P500: $7,743
Dow Jones: $7,654
Gold: $7,089
PIMCO Active Bond ETF: $5,387
Fiatbros might want to psychologically prepare for the possibility bitcoin price recovers, Bukele wins re-election, and he spends years debt-free dunking on broke first world presidents and central banks on Twitter.
Just had a wonderful long conversation with
@jordanbpeterson
on bitcoin, fiat, time preference, Austrian economics, online education, and much more. It will be out in early November.
Nassim Nicholas Tantrum has gone from endorsing my book to obsessively insulting me in public without once making any reference to my work.
Why?
Because I refused to join him on his insane cowardly hysterical crusade to shut down the planet with his friends at the WEF.
Twitter taught me more than any school, university, or website ever could. It gave me a voice, an audience, and a new career, and it made me a much better writer.
I am forever grateful to you for building my favorite website,
@jack
, and I can't wait to see what you build next!
Why take your bitcoin off exchanges:
Bitcoin exchanges are run by people who learned fiat finance. Gambling with depositors' money is normal & healthy for them, because in the fiat system the central bank destroys the currency to bail them out every time it goes wrong.
I travel a lot, and almost everywhere I go these days, people are pessimistic & complaining, mainly about economics. El Salvador is an amazing exception. Everyone is truly excited about a future where the streets are safe & gangs aren't extorting & terrorizing everyone.
My theory of why hard money lowers time preference in a tweet:
The harder the money, the more likely it is to hold value for the future. The more you can send value to the future, the less uncertain the future becomes, the less you discount the future.
Carbonhysterics are so gullible none of them has ever noticed that the people who get rich from promoting carbonhysteria buy expensive houses at the very beachfronts they say will be underwater.
#ListenToTheScience
"97% of priests agree that child sacrifice is necessary for a good harvest. What makes you think you know better what we should do with your child? You are not even a priest! Stop being selfish and hand over your kid!"
I ran the numbers on washing machine electricity usage and I am APPALLED.
850m washing machines worldwide consume around 140 GWh of electricity every year.
I'm only washing my clothes with my hand from now on & will start a campaign to ban washing machines!
#TweetLikeANocoiner
Do you realize how stupid we are going to look to future generations when they find out most of us believed the only way for money to work is to have a banking cartel that can create it out of thin air?
A cousin of mine met with a financial advisor, who explained to him his sophisticated investment products & showing him their track record.
Cousin: That's nice. But buying bitcoin outperforms all of this and doesn't require fees or active management.
Financial advisor: Goodโฆ
BREAKING: US Federal Reserve and Treasury Secretary Yellen say US banking system's capital and liquidity positions are robust and the financial system is resilient
When the author of the Bitcoin Standard met the leader of Bitcoin Country, great things were bound to happen.
We are excited to announce that
@saifedean
is joining us as Economic Advisor to the National Bitcoin Office of El Salvador.
Welcome to the winning team, Dr Ammous!
This is the first paper Egyptian pound, issued in 1899. It was redeemable for 7.4 grams of gold.
Today, 7.4 grams of gold are worth 12,000 Egyptian pounds.
Fiat money is a plague that has ruined our planet.
@RobinBrooksIIF
Why don't you show us how your investment portfolio has outperformed Bitcoin over the past five years, instead of hanging on to the three hour periods your high time preference makes you believe are relevant?
Fifty years after his death, Mises gets more downloads in three days than what 95% of living economists get in their entire lifetime. Regurgitating fiat propaganda may give you fiat jobs & titles, but pursuing truth gives you immortality.
Inflation is low if you just replace your house with a pod
Inflation is low if you just replace meat with bugs
Inflation is low if you just replace your car with house arrest
Eat the bug. Stay in the pod. Save fiat parasites' Cantillion privilege
@TheFiatStandard
in a nutshell
The Bitcoin Standard now has 7,000 reviews on Amazon US, and it's back to being the best-selling book on Money & Monetary Policy!
RT & follow to win a signed copy!
Delighted to announce
@michael_saylor
has agreed to write a new foreword for the coming reprint of The Bitcoin Standard!
Michael's championing of the book & his conviction in acting upon it are the biggest compliment it received.
Bonus: he actually read it!
It is difficult to argue with this after watching El Salvador eliminate its crime problem in a year, while American politicians keep finding more creative ways of terrorizing their citizens & sparing their criminals.
Almost every government in the world is 10x to 1000x stronger than all of its criminals combined.
The reason they donโt end crime is because they are colluded with it, or because they benefit from it.
You pick the reason.
I have quit my university job & will now focus on teaching & publishing research on , directly to students & readers.
Universities are a waste of time, talent & money for professors & students.
They are only good for administrators, whose jobs are obsolete
Normies: "I'd like a bank to just hold my money & make payments on my behalf. I'll pay for this service."
Fiat cartel: "That's illegal. Your only choice is to become an unsecured creditor to a hedge fund calling itself a bank so they can use you as an excuse for a bailout"
Ethereum may be a centralized shitcoin pretending to be decentralized to commit securities fraud, but one can't but marvel at their success in implementing completely technically unjustified, programmable & indefinite ponzi scheme lock ups.
Congratulations on this, seriously
NEW - Powell: "Rapid changes are taking place in the global monetary system that may affect the international role of the dollar."
A US central bank digital currency is being examined to "help the US dollar's international standing."
This is peak Keynesianism: rich parasite who spent his entire life getting paid by institutions financed by fiat inflation says you can only lower prices by destroying millions of jobs & livelihoods, not by reducing the money printing that made him rich.
This feature will come in handy when the climate lockdowns start & your government wants to make sure you can't leave your pod.
Not your engine, not your car!
Bitcoin has now been operating for ten years without confirming a single fraudulent transaction, and without deviating from its original monetary issuance schedule.
Deal with it!
The latest podcast seminar hosts
@100trillionUSD
to discuss the continued resilience of his stock-to-flow bitcoin price model after all that bitcoin has gone through in the last three years.
Fun fact of the day:
If your university economics professor didn't teach you that going off the gold standard was the most significant & devastating policy mistake of the 20th century, he's not an economist, he's a fiat cartel mouthpiece benefitting from the crime of the century
@POTUS
Israel has been flattening all of Gaza one neighborhood at a time. This is not about fighting Hamas, this is a continuation of Israel's modus operandi from before its inception: more land, fewer Palestinians. In other words: genocide.
The paradox of poor fiat slaves like this is that they've been conditioned to believe money can't work without government slave masters, so when they see non-governmental money functioning, they're incapable of even understanding that it works without slavery
The paradox of cryptocurrency is that if it actually has any of the usefulness its advocates claim, then it should be issued legally only by national central banks, just like any currency. If itโs not something for central banks, then itโs just a scam
@pontus_rendahl
Bitcoin saved my family from hyperinflation in Lebanon, while you waste electricity to wash clothes, run home appliances, get an econ PhD, & tweet nonsense.
How many people has your fiat PhD saved from inflation?
Have you considered that YOU are the useless waste?
10 years ago, someone retired & their financial advisor recommended bonds as a safe haven asset for the long term.
$10,000 invested in the Treasury shitcoin then are now $10,877.60.
These are the kind of morons who tell you bitcoin is a scam๐คฃ
Fractional reserve banking would not survive in a real free market. It currently only exists because the Fed is a cartel with a monopoly on banking & currency, which effectively taxes full reserve banks to subsidize fractional reserve banking scams.
The new version of The Bitcoin Standard will be out in a few months and will have a new foreword from the great
@michael_saylor
, a man of his word, with actual skin in the game.
How dumb is CPI?
Imagine an economy with only 2 goods: beef & laptops. Central bank creates a ton of new money, causing prices of both goods to double. But the processing power of the laptop increases 4x through technological improvement.
CPI is ZERO.
"There is no inflation"
Bitcoin isn't "cool" or "awesome" new tech. It's an ugly contraption optimized to be neutral apolitical money, not for your user experience. It's not the toy you want, it's the medicine you need.
Like it or not, it's your best chance for living in a free market with sound money.
Friendly reminder: this Twitter account has spent five years telling you Elon Musk is a fraud & conman whose entire stupid business is just a way to profit from government subsidies.
Bitcoin is inevitable. The only role for a bitcoin evangelist is to alienate authoritarians, socialists, inflationists, and shitcoiners away from it so they have fewer satoshis in the bitcoin future.
Stay toxic, my friends!
And cry harder, everyone else!
Thrilled to announce I have finished my third book, Principles of Economics!
Preorder now to receive your copy this May!
Retweet to win a free hardcover copy!
Thought experiment:
If your government was actually an undercover marketing agency for drug companies, what would it have done differently over the past 18 months?
Dear goldbugs,
If you sold an ounce of gold and bought bitcoin with it seven years ago, you could today sell the bitcoin and buy a kilogram of gold.
Gold is just slower analog bitcoin broken by governments.
The biggest problem fiat brains have with bitcoin is that they think it needs to win an intellectual argument against their stupid fiat theories to succeed.
It doesn't.
It just needs to keep going up in value & all your fiat theories are irrelevant noise powerless to stop it.
This is such a powerful meme but it's completely wrong. The Wright brothers & a century of airplane builders were engineers. Scientists first dismissed flight as impossible even after it happened, then made up a bunch of irrelevant equations to pretend to explain how it happened.
If you think you don't trust scientists, you're mistaken. You trust scientists in a million different ways every time you step on a plane, or for that matter turn on your tap or open a can of beans. The fact that you're unaware of this doesn't mean it's not so.
That's adorable, but unless you buy most of the new mining output, the price will continue to drop, and so you've promoted an inevitably dying inflationary shitcoin to millions of easily-impressionable people worldwide.
@elonmusk
@BTC_Archive
You better sell all your and your company's bitcoin now or you're going to look like a pathetic hypocritical coward.
Sell all your coins you corporate-welfare whore!
Sell it all you rent-seeking leech!
Two-thirds of Australians are overweight or obese, but the world's top tennis player is the risk that worries their government, not their own metabolic syndrome and garbage food. ๐คก๐
The Australian government canceled Novak Djokovic's visa for a second time, saying the world tennis No. 1, unvaccinated for COVID-19, may pose a risk to the community
We can keep using barbaric manual shitcoins that rely on the authority of violence, causing endless conflict & politics.
Or we could upgrade to a peaceful software solution that runs on electricity and cannot be corrupted by politics or violence.
That's why bitcoin is worth it
To be a bitcoin hater, you have to believe that absolutely nobody on the planet could or should benefit from upgrading their local inflationary currency to a hard currency.
It takes an astonishing amount of fiat privilege, callousness, ignorance, & stupidity to believe this.
I'm not sure how the collapse of a dozen shitcoin ponzi schemes & the many suckers' lives ruined will be blamed on bitcoiners not being nice to the scammers, but I am confident the shitcoin industrial complex will find a way.
Epidemiology is a pseudoscience based on the astonishingly idiotic idea that diseases are programmed to spread & kill according to mathematical curves when there is absolutely no reason to believe this. But epidemiologist morons get paid more if they pretend it's true, so they do
Keynesians think you can measure inflation by taking out food, energy, shelter, and used cars, which likely make up more than 80% of more than 80% of people's annual expenditures.
In 1971, after the US suspended gold redemption, sane economists said this would lead to runaway money supply inflation & price rises.
By the time the prices rose, fiat economists blamed it on the 1973 Arab oil embargo, completely ignoring the closing of the gold window.
A relative has been on a waiting list for three years to see a back specialist. If he was in a destitute warzone, some doctor would have managed to find a way to see him 3 years ago. Only socialist regimes can deliver this criminal callousness.
@JustinWolfers
Any inflation over 0% is the wrong direction you dumb bitch, because it means people are being robbed by government to pay for parasite economists like you to gaslight them into cheering for their robbery.
Getting rich by holding bitcoin is not an unfair reward for doing nothing. It's the market's just reward for divesting your wealth out of central banking & all the death, destruction & decivilization it brings the world.