💯
One of the first Bitcoin Maximalist-type quotes from Mises I came across that Bitstein shared a few years back:
"There would be an inevitable tendency for the less marketable of the series of goods used as media of exchange to be one by one rejected until at last only a single commodity remained, which was universally employed as a medium of exchange; in a word, money.”
- From his book ‘The Theory of Money and Credit’
And socialism too along with all its variants like fascism and nationalism
Bad ideas, the lot of them
(FWIW: I'd thought that article was an excerpt from his [An Austrian Perspective on the History of Economic Thought](https://mises.org/library/book/austrian-perspective-history-economic-thought), but that might've been a standalone article. Not sure. But the same material is covered in the fomer volume.)
This one is from 'The Logic of Action' by Rothbard, a compilation of essays which got republished as 'Economic controversies', but the essay I shared was left out for some reason
I'm aware of all the Rothbard books you've cited but it's all on my reading list so I'll get to them soon!
So much to read and learn hahaha
Excellent article, I'm very familiar with it. I've read that whole work and it was incredibly eye-opening. Reading that and his _The Progressive Era_ were revolutionary for my thinking.
What's very interesting to me personally is, my (Christian) denomination was formed as a protest against the modernist tendencies of the PCUS in the mid- to late-1920s. In studying the history of the controversies that led to the ejection of J. Gresham Machen and the formation of the [OPC](https://opc.org), there were a surprising number of names dropped in Rothbard's works that had already been made known to me by studying the history of my own denomination. E.g., President Wilson (hisssss) was a neighbor of one of my favorite theologians (Geerhardus Vos), and a contemporary of J. Gresham Machen. His entire project of "postmillennial pietism" was part of the reason we were "kicked out" of that mainstream denomination.
FEE has published a couple of short homages to Machen:
- Lawrence W. Reed, "[J. Gresham Machen: God's Forgotten Libertarian](https://fee.org/articles/god-s-forgotten-libertarian/)" (2015)
- Daniel Walker, "[J. Gresham Machen: A Forgotten Libertarian](https://fee.org/articles/j-gresham-machen-a-forgotten-libertarian/)" (1993)
And the Mises Institute gave a "Brown Bag Seminar" back in 2009 about Machen:
- Shawn Ritenour, "[J. G. Machen: Calvinist, Revolutionary, Hero](https://mises.org/podcasts/individual-lectures/j-g-machen-calvinist-revolutionary-hero)"
You can get a sampling of Machen's arguments here: [Christianity and Liberalism](https://www.monergism.com/thethreshold/sdg/machen/Christianity%20and%20Liberalism%20-%20J.%20Gresham%20Machen.pdf) (Free PDF) - note: by 'liberalism' he meant modernism (the rejection of the supernatural). And, there's also his appeal made to Christian Educators (prior to the founding of the Dept. of Education), which he made within a few months of Hitler's "What are you? We already have your children!" speech in Germany: [The Necessity of the Christian School](https://www.pcahistory.org/documents/necessity.html). In this speech he argues that one of the primary purposes of Christian Education is the preservation of liberty. Also very informative (even entertaining) is Machen's [testimony before congress](https://reformed.org/christian_education/Machen_before_congress.html). Hero, indeed!
...which is why I always exhort people to #ReadMachen and #ReadRothbard !
You'd recommended Van Til the other day
Is there any links between Machen and Van Til in terms of schools of thought?
If we were ever in the same place, nostr:npub1xnc64f432zx7pw4n7zrvf02mh4a4p7zej3gude52e92leqmw8ntqd43qnl, I'd buy you a beverage of your choice. I bet we'd have some good discussions. 🤜🤛
Haha I'm sure! 🤜🤛
Reminds me of this essay:
https://mises.org/mises-daily/karl-marx-religious-eschatologist
(I’ve only read a few passages though. Yet to read the whole thing.)
Have you listened to this one? Specifically starting slide 26, how Bitcoin can prevent hyperinflation. Most underrated video in Bitcoin IMO. https://m.youtube.com/watch?v=2LuCV1N_z0U
Pretty good!
First scenario is more likely for most countries that have a functioning economy.
CBDCs are terrible yes, but it doesn't make sense to use those for transactions more complex than simple money transfers. People simply won't want to use it for anything beyond that.
Just realised that nostr:nprofile1qqstn8du5qvy5vkw2kgyevn8kghyxjpre9l5rrekmt6a9hlsm4a4cfcppemhxue69uhkummn9ekx7mp0v890m9 and nostr:nprofile1qqsf272yfpfzyypcmjarg5fz27mx58rwt0d5xwdk09yzd4qzfvlye6gpzdmhxue69uhhwmm59e6hg7r09ehkuef0tzezlg had a very accurate understanding of Bitcoin from an Austrian perspective as early as 2013.
Massive respect to them 🫡
Have you listened to this one? Specifically starting slide 26, how Bitcoin can prevent hyperinflation. Most underrated video in Bitcoin IMO. https://m.youtube.com/watch?v=2LuCV1N_z0U
Will listen to the whole thing in a while
Using something as a store of value is the same as using it as a medium of exchange.
Just that value is transferred from one point in time to another.
Don't let bad economic theories and ideas convince you into not doing one of the most important things in life: saving.
Saving is using.
That talk demolished my strongly bearish view about stables 😭
Understanding the bond market is something I gotta do asap because that's keeping me a bit ignorant 😂
Braiins for Lightning payouts, nostr:npub1g6yfqkcw3y65sswrw0rm3ve9ethdr8nyvc9ljncktslk0xa69uqsyz0fw9 for a small solo pool with unique payout share setup and a badass “block party” community mining initiative, and then someone was recently at btc++ who’s working on a pool where you sell your mining shares for cash tokens. Maybe nostr:npub1e0z776cpe0gllgktjk54fuzv8pdfxmq6smsmh8xd7t8s7n474n9smk0txy can chime in? It’s also on one of the TFTC recordings of the conference’s “live desk” — nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy ?
The mining shares thing is called hashpool
One of the most underrated video of nostr:nprofile1qqstnem9g6aqv3tw6vqaneftcj06frns56lj9q470gdww228vysz8hqpzdmhxue69uhkzmr8duh82arcduhx7mn9qy2hwumn8ghj7etyv4hzumn0wd68ytnvv9hxg8mv947 about #Bitcoin mining for normies and even for many Bitcoiners.
This deserves a million views atleast.
Covering this today on Bitcoin Breakdown
I suspect that the idea of a 'demographic dividend' is the new favourite among economists to convince the public of their big government policy recommendations
Same old interventionist ideas repackaged