Friday, August 11, 2023

Review: The Bitcoin Standard

My Review of The Bitcoin Standard by Saifedean Ammous
 

Much as Martin Luther's polite letter of request posted on the Church's door, which was merely a simple request, that being asking for a return to the True God and the incontrovertible truth of nature, the publication of the Bitcoin whitepaper reminds us of Jesus throwing out the corrupt middle men, degenerate money changers, and their monopoly on sacrificial-animal sales, from his Father's temple. (Sidenote: Muslims should thank protestants for ending the crusades)

The alternative, informal, and direct nature of Bitcoin is currently changing the world, similar to how the printing press changed the world and accelerated the already-in-progress renaissance. People in a Malawi village in Africa, who have never had electricity, are now able to access electricity via hydroelectric power via Bitcoin mining. Bitcoin is the ultimate anti-colonial power; it brings wealth to the countries that are accepting it, and then naturally deflates. Side note: At present, Nigeria is forced via international treaty to much all of its grain to the USA, whereas Nigeria buys its grain from the USA. Regardless of one's thoughts on climate change, this can't be good for mankind. Meanwhile, other countries in Africa, who do not have their own currency, are required to buy the CFA/African Franc from the central bank of France to transact locally, but nations buy them at a 50% loss of their buying power.

This book, in succinctly and in simple language, shows the history of money over time: Cows, West African beads, American wampum seashells+tobacco, the large, unmovable 5 ton stone coins of the Yap Islands (the first public ledger), silver, gold, and finally the life-changing discovery of true scarcity as laid out in Saratoshi Nagamoto's Bitcoin Whitepaper (*snicker*, Brad Sherman).

It also shows that Bitcoin has a better stock-to-flow ratio than even Gold. Gold is indestructible and does not lose it's luster, and humans have been mining, hoarding and exchanging it for thousands of years, and yet there is 10x as much Gold below the Earth's crust as above it. Gold mining also uses 10x the electricity that Bitcoin mining uses (this number might be different now), and 60% of Bitcoin mining is done is using renewable energy [and this number continually rises]). With Bitcoin, 92% has been hashed (cryptographically mined) as of 2023 and by 2028 98% to 99% of all the Bitcoin that will EVER exist, will exist. Bitcoin continues to naturally decentralize informally held wealth, continuously flowing out of banks and directly into the hands of humanity. For the first time in history, wealth will flow from the bottom-up rather than via the top-down MLM pyramid scam that is our extremely corrupt dishonesty, unscrupulousness, deception, fraud, immoral, criminal, villainous, graft, extortion, profiteering, crooked, sleazy, palm-greasing, malfeasant, sinful, profane, depravity, degeneracy, perversion, debauchery, decadence, wantonness, lechery, wickedness, evil, baseness that is unbacked fiat printing and the Cantillon effect (Thanks Google!). Humans unconsciously seek out a master, Lord, and King, and the invisible effect of printing paper monies that are not backed with grit/effort/work/energy/time/labor are being exposed and dethroned. You cannot destroy the invincible Smaug-like beast that has become the infinitely-tentacled addiction to printing fake money, but it will be severely injured.

My parents lost their mortgaged home due to ineptitude, and this spectre still harms my family to this day. If you only ever read one book on the subject, read this one. Bitcoin is an asset that is portable across all borders, of states where governments in the many forms of corrupt*ism cannot steal, reposess, rob, or even account, surveil or have knowledge of it's existence.


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