Avatar
sachin
34f1aaa6b1508de0bab3f086c4bd5bbd7b50f8599451c6e68ac955fc836e3cd6
Contributing to the Bitcoin Breakdown newsletter

nostr:naddr1qvzqqqr4gupzqt0ql7s2cg6l7306fn9egnxn7vlhnl6ay870jhcplx23dwmtkukvqq2k6e6vd9zy24rkg3x5xnjvx9yycurg0p492uz349c

And then people consider bad things to be good.

Utter distortion

Productivity is a function of how much people want goods and services to be produced. It's possible that prices and time preferences go down on a bitcoin standard but not an inevitability, since all individuals have differing ends and means.

We need a free market in money and interest rates. Those who use the best form of money and use credit responsibly will be rewarded accordingly.

It's not immediately obvious how they work. It requires reasoning and understanding of how human action works.

Those who rely strictly on statistics to inform their economic views will find it especially difficult.

One of the main gripes that people have against privatisation of public services is that they think the prices of the service will go up if it is given to private players - the affordability argument.

In response, you say that the fault is with fiat money and the conversation barely progresses further.

I was never aware of him or his opinions, so I was going through Charlie Kirk's Instagram reels to get up to speed. This is easily my favourite:

https://video.nostr.build/af1ddec96d2dd59f83222f6825d7159b6df520c6d437ba44c8065912a8a94bdb.mp4

https://www.instagram.com/reel/DOypDOOiWWF/

'The Fallacy of the “Public Sector”' by Murray Rothbard

https://oll.libertyfund.org/pages/rothbard-on-the-public-sector

Replying to Avatar Bitcoin India

Bitcoin’s resilience goes beyond traditional internet infrastructure. Projects like nostr:nprofile1qqsfy229w70e8lgtxavlz9t78k06yrel6fxyhreteafqet8kfxhhwmgpr9mhxue69uhhqun9d45h2mfwwpexjmtpdshxuet59uq3vamnwvaz7tmjv4kxz7fwwpexjmtpdshxuet5uzhxm7 Satellite enable the Bitcoin blockchain to be broadcast worldwide through satellites, allowing anyone to receive transaction data without relying on local ISPs or government-controlled internet access.... This satellite technology ensures that #Bitcoin users can maintain censorship resistant communication globally, even under restrictive regimes or network blackouts. Combined with other decentralized connectivity methods like mesh networks and radio transmissions, Bitcoin’s design empowers financial sovereignty and freedom by enabling transactions anywhere, anytime—outside the control of centralized authorities 🧡🧡..

#Satoshiisafukingenius

I'm aware of Blockstream's satellite, yep. Would be a compelling point if there were multiple satellite broadcasters than just Blockstream.

And afaik, you can only download data from it. You can't broadcast your transactions to it without sn internet connection.

Also, they don't broadcast to India.

Simple*

And I think PTLC's require things added during the Taproot upgrade to work as well

If I were to convince a Bitcoiner to embrace Libertarianism, this is an outline of how I would do it:

The Bitcoin network is not fully resistant to censorship as long as there's a government monopoly in the regulation of the provision of internet services.

An ISP is legally bound to block off your internet access if the state orders it to.

Spectrum is considered a public good that everybody owns, in theory.

The state owns all of it, in practice.

By 'own', I mean that the state has the ultimate say in the usage of spectrum and the ends towards which it is used.

Ownership rights in spectrum is inevitable and necessary since there exists scarcity and conflict regarding its use.

However, no homesteading or first appropriation was involved in government ownership of spectrum.

A law was written and passed, after which the started owning all of it, by fiat. (Whether this was done democratically or by other means does not matter. Fiat is fiat)

The state then leases out the spectrum to ISPs, through auctions.

You'll also need to procure the mandated licenses to set up an ISP.

Hence, a libertarian legal order which enables the provision of internet to become fully privatized is necessary for Bitcoin to become truly censorship-resistant.

Being drawn to something that posses you of is.. fascinating 😂

Black holes were interesting to me because of the singularity.

But what has really spooked me is concept of infinities. The infinitely large and the infinitesimally small and the infinites in other measurements of the natural world, like heat, gravity, mass, etc.

My brain couldn't comprehend them when I first thought about them. Had to acknowledge the fact that natural sciences have its limits.

"Donald Trump Is Not the Bitcoin President

He’s the stablecoin president, seeking to expand the monetary power and borrowing capacity of the U.S. government."

by Alex Gladstein

https://reason.com/2025/09/12/donald-trump-is-not-the-bitcoin-president/

Hoppe's description of Hinduism in 'Economy, Society and History' is not fully accurate. Very much in contrast to the insane depth that his guru Rothbard goes into while taking about subjects like this. But that's okay.

He is criticized for attributing cultural conditions to the development of libertarian ideas. And that's not okay.

Tradition, religion and culture needs to be challenged by Reason, all day everyday. (And so does History).

I would modify or add to Hoppe's points the following:

I'm from Tamilnadu and my points are going to be centred around Tamil society.

Tamilnadu has been undergoing a century-long challenge and reform to its caste system, kickstarted by the spread of Rationalist ideas.

The caste system is an atrocious monstrosity. The sooner it is gotten rid of, the better.

(Side bar: Some cultural customs, like the belief in determinism, which involves the practice of using horoscopes to make decisions, still persist among people. That hinders entrepreneurial progress also. But as long as it doesn't become a part of government policy, it's fine. To be honest, it's hilariously not that different from drawing lines on charts to make investment decisions. Or using statistical aggregates to plan the economy, which is indeed a part of economic policy all over the world, sadly.)

State policies like affirmative action, wealth redistribution, etc. has unsurprisingly failed at addressing the caste system. It's only made things worse by amplifying caste-based tensions. The reformers were largely liberals who became liberals after it got corrupted by socialist and egalitarian ideas.

State policy that inculcated libertarian principles, e.g. 1991 liberalisation, opening up of imports and exports, making private property universal, removing the barriers to the private production of goods and services, partial privatization of health and education, defense of self-ownership and natural rights and introduction of contract laws, have helped.

Bottom-up organic reforms like voluntary abandonment of caste-based surnames, the spread of rationalist ideas through media and literature, widespread cultural shifts that made 'going back to the old ways' a non-starter in serious political discussions have played a major role in Tamil society shedding the ideas that held its people back from economic advancement.

Tamil people having one of the highest household gold holdings, not only in comparison with other Indian regions, but also regions all over the world, would have helped a lot with being resilient to Socialist planning that occured from 1947 - 1991 and the crony capitalist regulatory capture that has occured since 1991 - present day.

Tamil society has also had religious doctrines that are distinct from the rest of India, which are conducive to rationalist and libertarian ideas.

Tamil Shaivism does not explicitly advocate for a caste system. It is a doctrine, when interpreted properly, that helps people look inward.

I've personally never found it difficult to whole-heartedly embrace libertarian ideas while also keeping my religious predispositions intact. That's got to amount to a good deal in this argument.

The Siddhar tradition and its epistemology, part of the Tamil Shaivite school, is not at all well-known among 'mainstream' Hindu thought. It is low-key, but incredibly influential in Tamil society. That's the right combination and I hope it stays that way. Even if people attempt at making it popular, only those who have good gurus would be able to grok it. And those who do grok it won't go about waging wars, expropriating property and pursuing conquest and subjugation. They simply take care of themselves, their lives and their families and if possible, bring about a positive impact to their society.

This tradition constitutes social power.

Social power is not the same as state power.

Which brings me to the point about intellectuals and opinion moulders, whom Libertarians have rightly pointed out as the legitimizers of the state and engineers of consent.

And boy have they legitimized and engineered many kings and states for centuries. They are at fault for the feudal caste system, customary laws, decline in economic freedoms, parasitic wealth extraction and many other socially destructive phenomena commonly attributed to the state.

The point:

There's nothing inherently corrupt in Hinduism and its epistemology, if understood with the right guidance.

It's the intellectuals and opinion moulders who have corrupted it.

Rothbard would've understood this.

If someone tells me that a religion has not been corrupted this way, they are not seeking truth, but rather propaganda.

Monarchs and their intellectual allies corrupted Hinduism and Indian culture. And so have democratic caretakers and their bureaucrats.

Monarchy was a god that failed long ago in India.

And so is democracy.

Neither is preferable.

No state is the best state.

Monopoly in the provision of legal, defence, administrative and police services has so many political, social and economic consequences. It's insane.

Got a similar feeling when I learnt about the consequences of monopoly in money.

I can't unlearn it or unthink it. These ideas live rent-free in my head.