HAYEK IS TURNING IN HIS GRAVE

Austrian Economics has enjoyed a resurgence in recent years. A once obscure academic framework has entered mainstream discourse as a new cohort of online personalities who have studied it, gain in popularity.

From Comics and Joe Rogan regulars like Dave Smith and Tim Dillon, to MMA fighters like Renato Moicano, to businesspeople like Peter Thiel and Elon Musk - these ideas have found new fertile minds to implant and spread from in the age of the internet.

Then of course there are Bitcoiners -

whose cultishness is in large part strict adherence to anti-State, hard money, and laissez faire free market capitalism of the Austrian school.

No group has done more to spread the word of Mises and Menger and Hayek than the Orange pill brigade. Indeed their progenitors the Cypherpunks themselves were Hayekians, back when Austrian Economics really was fringe.

And so what of today’s Austrian Economists?

Well Saifedean wrote THE bitcoin book and sold a million copies. Peter St Onge is clearly a Bitcoiner. Stephan Kinsella too.

But look through the Mises Institute, the supposed home of Austrian school and the dearth of Bitcoin is staggering.

I’m reminded of Hayek’s “sly roundabout way” quote when considering this because it’s not like there’s a long list of open ended questions in the Austrian school. There’s not a book of unsolved math problems that someone might come along and make a name for themselves with. There’s no “fountain of youth” holy grail to pursue. No room temp superconductors to solve.

Taking money out of the hands of the State is one of the very few things Austrians had to pursue. Satoshi pursued it and found the path.

Rejoice! Hallelujah!!

But no, the majority of Austrian Economists sit on the sidelines and ignore Bitcoin?!

Imagine if the field of astronomy just ignored the discovery of alien life and instead spent all of their efforts debunking flat-earthers. That is what the Austrians who would rather have Xitter debates with MMTers are effectively doing at this point.

Seems to me that these figures have too deeply imbibed the permanent loser mentality of libertarianism. They don’t know what winning looks like so they are lost when they see it - like a nerd who has somehow just pulled a 10 and embarrassingly jizzed his pants before they’ve even left the party.

Forget about Goldbugs - they are LARPers who want Central Banks to pump their bags. The few who seriously hate the State have already joined Bitcoin; the Schiff acolytes never will.

Bitcoiners need a full frontal assault on the Austrians. No more asking them to join us, shame them until they get on board.

Remind them of what Hayek said and how goddamn disappointed that man would be seeing the vanguard of his school twiddling their thumbs on the sly roundabout way to actually subvert the state THAT WE ALREADY HAVE so we don’t have to deal with the shit these guys constantly complain about.

It’s time for the Austrians to swallow the orange pill, or to be given the orange suppository.

Empires come and go. Europe definitely goes.

Dwarf Cows 🆚 Sheep

That is the #farmstr question.

1. Easy to fence of: 🐄

2. Slaughter on farm with minimal equipment: 🐄 🐏

3. Good with kids: 🐄 🐏

4. Doesn't want to devour our orchards: 🐄

5. Not too cute to kill: 🐏

6. Good Milking: 🐄 🐏

7. Wool: (🐄 ) 🐏

8. Looking epic: 🐄

Daylight savings has started in Australia…which means in Brisbane I effectively mine fiat for 2 hours less each day 🥳 #IYKYK

More Lightning wallets should reveal the path of sent txs. Love that feature in your app.

🔒 Are Bitcoin Audits for SMSFs Secure Enough? 🔒

Recently, my SMSF accountant attempted to verify Bitcoin holdings by Googling a public address. While common, this practice has two major flaws:

1. It doesn't confirm control over the Bitcoin - only the balance.

2. It exposes sensitive information, like addresses and balances, risking privacy.

Here is a recreation of the screenshot sent to me. Of course, I used an address that isn't controlled to me to preserve privacy. Could an auditor tell that I don't actually control this address?