Bitcoin teaches you:
- Game Theory ✅
- First Principles ✅
- Economics ✅
- Simplicity ✅
- Self Reliance and Independence ✅
- Network Effects ✅
- Human Psyche ✅
- Monetary Systems ✅
- Capital Markets ✅
Opt out of fiat education and teach your kids Bitcoin! Hopefully our project helps.
Humans function through their network.
Our unique ability to abstract, tell stories, and orient ourselves around the stories allow us to function like a single organism.
That is what the world economy is.
We communicate with words and prices to shift allocation of resources to the highest and best use - at least in a purely free market.
In that context, the railroads and resulting interconnection - the ability to move things around were key to economic development.
-- an excerpt from the Saylor Series Episode 2 - the Rise of Man through the Dark and Steel Ages, its 2-minute version can be found here https://www.2minutebitcoin.org/blog/saylor-series-episode-2-the-rise-of-man-through-the-dark-and-steel-ages-robert-breedlove
The choice is obvious.
The nature of an intermediary is one that can extract perpetual profits from anyone doing business in its network.
And that’s what money is - a network of trust. This is why the governments have been so keen to monopolize it - it gives them essentially unlimited power and wealth, as they possess the ability to confiscate the wealth of their citizens.
Such gatekeepers are not only governments but also private monopolies or cartels.
- Rockefeller with Standard Oil - owned the whole end-to-end distribution of oil.
- Big Tech - Apple gets to tax **30%** of any transaction on their App store.
- Commercial banks get to tax any operation with money, including financial asset purchases (they’re often the only market maker)
-- an excerpt from the Saylor Series Episode 2 - the Rise of Man through the Dark and Steel Ages, its 2-minute version can be found here https://www.2minutebitcoin.org/blog/saylor-series-episode-2-the-rise-of-man-through-the-dark-and-steel-ages-robert-breedlove
In the same way a stock certificate is title to company capital, money is title to human time. People sacrifice their time for money, which enables them to trade for commensurate sacrifices from others. When prices are distorted, we are each inhumanely robbed of making fully informed personal choices with our time.
-- an excerpt from the Stone Ridge 2020 Shareholder Letter, its 2-minute version can be found here https://www.2minutebitcoin.org/blog/stone-ridge-2020-shareholder-letter
Today's volatility in Bitcoin is nothing more than the logical path of price discovery, bubbles, leverage, and manipulation as adoption increases by orders of magnitude.
See the gold price during the german hyperinflation to get a sense of how these things naturally work:
- an excerpt from the 2-minute version of Gradually, Then Suddenly (2019) https://www.2minutebitcoin.org/blog/gradually-then-suddenly-bitcoin
the vibes #plebchain
Money becomes more useful and more valuable the more people use it.
As more people begin to hold money, its value and utility both rise. The rational response of everyone else is to try to get more themselves, resulting in a positive upward spiral.
This incentive is at **the polar opposite** of conventional stocks. If a stock gets too expensive, its value decreases because an investor buys a smaller share of the company's revenue for more dollars.
Contrastly, $100 of Bitcoin today is **much more valuable** than $100 of Bitcoin years ago because it is spendable at **more** places.
This unique positive feedback between price and value makes the growth of Bitcoin self-sustaining. There is no top until everybody adopts it.
- an excerpt from the 2-minute version of It's Not About The Technology, It's About The Money (2016) https://2minutebitcoin.org/blog/bitcoin-is-about-the-money-not-the-blockchain-technology
Balaji’s #BitSignal bet inspired us to summarize one of the classic Bitcoin pieces that we believe supports his thesis best:
Gradually, Then Suddenly (2019)
> How did you go bankrupt?
> Two ways. Gradually, then suddenly.
https://www.2minutebitcoin.org/blog/gradually-then-suddenly-bitcoin
Our financial system is living on borrowed time.
Central banks continuously break the economy and then rush to "fix" it again.
The same firefighter that extinguishes the fire is the arsonist who set it.
Worse off - their fixes are a mere series of duck tape patches on top of an already broken dam.
Quantitative Easing (QE) and low interest rates are meant to be the solution, but as noticed today - they create an ever-more fragile system that is further hooked on it.
There is not a single fiat currency in history that has not gone to zero.
It is simply a model that doesn't work.
This model is not battle-tested in a digital age like today, where things change rapidly because information travels at the speed of light.
Just this week we saw how ill-prepared banks were to withstand a crisis.
Regulators were completely in the dark - it took a random substack post to expose how insolvent Sillicon Valley Bank was.
When the light is shed on everything, the upcoming flood will be monstrous.
Demonetization of some currencies and hypermonetization of Bitcoin is a logical conclusion.
People do not realize how fast Bitcoin can rise in value. It truly will be a 0 to 1 event as @balajis predicts.
higher price → marketing → adoption → higher price → fomo → etc.
Money becomes more useful and more valuable the more people use it.
As more people begin to hold money, its value and utility both rise. The rational response of everyone else is to try to get more themselves, resulting in a positive upward spiral.
This incentive is at the polar opposite of stocks.
If a stock gets too expensive, its value decreases because an investor buys a smaller share of the company's revenue for more dollars.
Contrastly, $100 of Bitcoin today is much more valuable than $100 of Bitcoin years ago
The cream always rises to the top.
The positive feedback between demand and value means that money is winner-take-all in a free market.
If one currency was ever-so-slightly more preferred than the other, then this imbalance will only grow until the other one collapses.
Simply said: it's a matter of time.
Use the time you have now to educate yourself about Bitcoin and its implications on the world.
Our project attempts to contribute to the goal by making it simpler, sharing summarized 2-minute versions of popular educational pieces on #Bitcoin
Don't forget how the establishment is ready to scam you:
gm, pv plebs
if you have some insight into the banking system, you can earn $1000 if you reply here: https://twitter.com/balajis/status/1636429773865095168?s=20
Sound money – along with language – were the first, and have forever been the most important, human networks responsible for human flourishing.
Imagine life without them.
-- an excerpt from the 2-minute version of Stone Ridge 2020 Shareholder Letter https://www.2minutebitcoin.org/blog/stone-ridge-2020-shareholder-letter
Bitcoin differs from other cryptocurrencies by its soul.
Reinventing a monetary system takes irrational zeal and an unwavering commitment to a firm vision of the future.
No other project is building a system to last **decades** and face the State head on.
Success for other cryptocurrencies is an exit. At a stark contrast, for Bitcoiners, success is the day when **no exit** is required.
People confused the blockchain revolution as a technological one - “if we can create the most advanced algorithm for securing a blockchain, we will win”. It was always a political revolution.
Going against the state requires hundreds of millions of diehards that believe in a **stable set of values** - clever cryptographic gimmicks cannot inspire and win devotion.
- an excerpt from the 2-minute version of A Most Peaceful revolution, originally posted at
https://2minutebitcoin.org/blog/bitcon-a-most-peaceful-revolution
In Nazi Germany in the 30s, all the Jews had their money locked up in Germany. Bankers allowed people to launder their money out, but would take a haircut of 10%, 20%, 30% which progressively grew to 90%. At that point, nobody wanted to leave!
-- an excerpt from the Saylor Series Episode 2 - the Rise of Man through the Dark and Steel Ages, its 2-minute version can be found here https://www.2minutebitcoin.org/blog/saylor-series-episode-2-the-rise-of-man-through-the-dark-and-steel-ages-robert-breedlove
Gold is expensive to store securely. Bitcoin is not.
Gold is very expensive and risky to transport securely in significant amounts. Bitcoin is not.
Gold can be detected and confiscated. Bitcoin cannot. (so long as the seed phrase is properly secured).
Gold's supply is flexible. It increases when prices increase, as more miners mine. Bitcoin's is not.
Gold's supply is theoretically infinite. Asteroids contain gold. Bitcoin's is not.
Gold is subject to counterfeiting. There is a lot of gold-coated tungsten in circulation; it requires special equipment and knowledge to be able to detect it. Bitcoin is not.
Bitcoin can be sent over the Internet. Gold cannot.
“We’re not even thinking about thinking about raising rates.” – Jerome Powell, Chairman of the Federal Reserve June 10, 2020
Good Morning and Pura Vida to all #plebchain
testing - let's see if this post from nostrgram gets relayed
