🇬🇧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
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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?
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🇬🇧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!
All great civilizations started with small government, which then grew bigger over time.
Slowly sucking more and more productivity out of the economy, until it all collapsed.
#Bitcoin is a natural constraint on government growth.
#Bitcoin #art:
Portrait of Rita de Acosta Lydig (1911) - Giovanni Boldini
Fight #Bitcoin and struggle.
Adopt #Bitcoin and prosper.
"#Bitcoin is not backed by anything"
This is said by people who don't understand that the backing of an asset by e.g. #gold has value b/c of the physical constraints gold's supply puts on the asset.
#Bitcoin doesn't need backing b/c the constraints are built-in...
Really looking forward seeing El Salvador's future unfold!
Think of it like 2 piles: money and stuff. If money grows faster, inflation. If stuff grows faster, deflation.
A healthy economy is when stuff grows faster, so deflation.
Africa has a difficult geography for physical trade.
Digital trade doesn't require geography... just #Bitcoin.
War is peace, ignorance is strength...
"The great man is he who does not lose his #Bitcoin key phrase"
-Mencius
Don't take BRICS currency talk serious if it doesn't mention the word #Bitcoin.
#Bitcoin #art:
The Wait (1900) - Jean Béraud
Countries can only develop if their citizens are allowed to build up capital.
Building capital in a fiat economy is really difficult.
Building capital in a #Bitcoin economy is really easy.
#Bitcoin #art:
Tiger in a Tropical Storm (1891) - Henri Rousseau
"Building up capital in a fiat economy requires you to have two jobs. One 9-5 and a night shift in the casino called stock markets"
-Saifedean Ammous
