1861. London is the center of the 🌍
Fashionable ladies marvel at telegraph wires stretching overhead. Well-dressed businessmen put steam engines to work.
🇬🇧 Britain is at the apex of its power
Did you know it was the most #Bitcoin country of the 19th century?
👇
🇬🇧Britain's strength was staggering in 1861, as shown by its share of global production:
-53% of iron
-50% of coal & lignite
-It consumed almost half of the 🌍's cotton output
🇬🇧Britain's industrial capacity was 45% that of the 🌍's and 60% of Europe's.
All while its population was only 2% of the 🌍 & 10% of Europe!
Its energy consumption from modern sources (coal, lignite and oil in 1861) was:
5x that of the 🇺🇸US or 🇩🇪Germany
6x that of 🇫🇷France
155x (!) that of 🇷🇺Russia
🇬🇧Britain was responsible for 20% of the world's commerce & 40% of trade in manufactured products
Its merchant fleet employed 30% of all the merchant ships in the world!
🇬🇧Britain truly ruled the waves...
How did 🇬🇧Britain achieve these staggering feats?
It was a #Bitcoin country!
This is why 👇
1- Gold standard
🇬🇧Britain's adoption of the gold-standard (1816) made the pound stable & reliable
Combined with Britain's economic prowess, this was the reason an international payments mechanism developed based on bills from London
This made international trade a lot easier..
The gold standard heralded a period of great inventions:
-Steam locomotive (1816)
-Electric motor (1821)
-Analytical engine (1830s)
-Telegraph (1837)
-Sewing machine (1846)
-Vulcanized rubber (1844)
-Photography (1839)
2- Minimal government
The 🇬🇧British believed in laissez-faire economy & reduction of state control over economy & individual
Government expenses were seen as an impediment to growth & were to be avoided where possible
Adam Smith explains 👇
3-Trade & eternal peace
The Brits preached trade & eternal peace. Make money, not war...
They didn't believe in any restrictions to trade & opened their home market to everyone. Their rivals often engaged in protectionist policies.
4- Investments all over the globe
Money made overseas was often invested overseas as well.
🇬🇧Britain built railways, ports, utilities & agricultural enterprises.
And the proceeds of these investments could be exported to its home market
There is a great lesson to be learned from 19th century 🇬🇧Britain
Any nation aspiring to greatness should realise the growth potential of a #Bitcoin mentality
Greatness is within your grasp!
