The Path to Bitcoin

The Path to Bitcoin

The Path to Bitcoin

“For literally every other financial asset, there’s always a price people will be willing to sell at, and there’s always an opportunity cost of some other asset that they could have instead…for a decent proportion of the supply of Bitcoin it will never be sold, and that creates a completely new market dynamic.”— Allen FarringtonAllen Farrington is a professional investor and the co-author of Bitcoin Is Venice. In this interview, we discuss the problems with fiat, or as Allen characterizes it “fiat fuckery”. We talk about how money printing leads to inflation and a misallocation of capital, the complexity of the fiat system hiding the resultant theft of capital, the slow demise of pension funds, and the confusion around what growth is and isn’t. - - - - Fiat currency experiments started centuries ago often resulting in catastrophic failure; since fiat has been ubiquitously assimilated into national economies. Whilst Bitcoiners are well versed in the inherent weaknesses of fiat currencies, there is a general ignorance of the long-lasting consequences for economies and citizens of maintaining an unbending faith in fiat money. Reducing this ignorance is perhaps the best way to grow Bitcoin’s adoption. The obvious problem with fiat currency is the tendency for governments to print money to tackle economic exigencies. The impact of this money printing is often inflation, in which prices rise faster than wages and the purchasing power of money is reduced. Eventually, the currency can be debased, causing individuals to lose money without even realising it.There is cruelty at the heart of this process: the complex nature of the fiat economic system means individuals can easily lose money without even knowing it. Many investors make decisions that are far too complicated for them to understand, and so it is easy to get caught up in financial schemes that value money to the detriment of the individual.But, it is the second-order effect of this inflationary impact that is most pernicious. Businesses and investors are seeking to add value, and the inflation rate is the baseline for any return. When inflation increases, this puts pressure on those seeking investments to match or exceed it. The result is investments made in increasingly more speculative projects. This is the misallocation of capital, which starves more productive uses of capital. The obvious topic of conversation following this is how Bitcoin mitigates these problems. This is a question to be debated with Allen Farrington for a future episode. However, understanding what Allen calls “fiat fuckery” is a sound basis for building the why of Bitcoin. - - - - This episode’s sponsors:Iris Energy - Bitcoin Mining. Done Sustainably Ledn - Financial services for Bitcoin hodlersBitcasino - The Future of Gaming is hereLedger - State of the art Bitcoin hardware walletWasabi Wallet - Privacy by defaultUnchained - Secure your bitcoin with confidence-----WBD673 - Show Notes-----If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:Become a Patron and get access to shows early or help contributeMake a tip:Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2SQR Codes: BitcoinIf you do send a tip then please email me so that I can say thank youSubscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS FeedLeave a review on iTunesShare the show and episodes with your friends and familySubscribe to the newsletter on my websiteFollow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTubeIf you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.

Recorded June 10, 2023Fundamentals introduces Business Cat to the concept that holding bitcoin may become the singular way that people prove they are human in the digital world.Intro/Outro Music: Daft Punk - Human After All00m - Intro3m50s - Social layers8m20s - Bitcoin Jawn13m50s - Spending time alone16m45s - Smells from Canada24m50s - Distractions or signal?29m50s - Map making33m - HODL'ing Bitcoin is a Human ActionFollow us on Twitter or Nostr₿usiness Cat - npub1z9hy7a0n8zxnhgrcew2nnkr4sx6sum07exve99pqq30leujye3usgd858nFundamentals - npub12eml5kmtrjmdt0h8shgg32gye5yqsf2jha6a70jrqt82q9d960sspky99gIf you like the show and would like to support us, you can stream us sats by listening with any podcasting 2.0 app. If you'd like to contribute hashpower, use the stratum URL "stratum+tcp://NA.lincoin.com:3333" with "RockPaperBitcoin.YourAliasHere" as the worker name.We'd love to see you at a Central PA Meetup event or chat with you in their Telegram Channel.Thanks for listening. 🙏

Recorded June 10, 2023Fundamentals introduces Business Cat to the concept that holding bitcoin may become the singular way that people prove they are human in the digital world.Intro/Outro Music: Daft Punk - Human After All00m - Intro3m50s - Social layers8m20s - Bitcoin Jawn13m50s - Spending time alone16m45s - Smells from Canada24m50s - Distractions or signal?29m50s - Map making33m - HODL'ing Bitcoin is a Human ActionFollow us on Twitter or Nostr₿usiness Cat - npub1z9hy7a0n8zxnhgrcew2nnkr4sx6sum07exve99pqq30leujye3usgd858nFundamentals - npub12eml5kmtrjmdt0h8shgg32gye5yqsf2jha6a70jrqt82q9d960sspky99gIf you like the show and would like to support us, you can stream us sats by listening with any podcasting 2.0 app. If you'd like to contribute hashpower, use the stratum URL "stratum+tcp://NA.lincoin.com:3333" with "RockPaperBitcoin.YourAliasHere" as the worker name.We'd love to see you at a Central PA Meetup event or chat with you in their Telegram Channel.Thanks for listening. 🙏

Full show notes with links and charts: https://bitcoinandmarkets.com/e347 Telegram https://t.me/bitcoinandmarkets Twitter https://twitter.com/AnselLindner FREE weekly newsletter https://tinyurl.com/2chhbnff In this episode, I react to a debate vs Keith Weiner and Pierre Rochard, with a resolution, "Will gold be an important money in the year 2100?". Enjoy. Links Original video 21 million discussion --- Got value from the show? Support directly! Strike: https://strike.me/ansellindner Cash App: https://cash.app/$AnselLindner --- Disclaimer: The content for Bitcoin & Markets shall not be construed as tax, legal or financial advice. Do you own research. https://bitcoinandmarkets.com/disclaimer/ #bitcoin #macro #geopolitics

BTC $ 27,542 Block Height 789,043 Today's guests on the show are the dynamic duo @edstromandrew - @Croesus_BTC who join me for another Macro Monthly rundown of what has been going on in wider financial markets and how that affects #Bitcoin. What has @edstromandrew - @Croesus_BTC been up to lately and where are they concentrating their time? Can we help educate more people about the #Bitcoin halving and why that's so important? What has been going on in the Banking sector and why is nobody talking about it? What is the CAGR of #bitcoin and do we get back to 200% ? A huge thank you to @edstromandrew - @Croesus_BTC for their continued work in the #bitcoin space and for sharing their thoughts again. ALL LINKS HERE - FOR DISCOUNTS AND OFFERS - https://vida.page/princey - https://linktr.ee/princey21m Pleb Service Announcements. @orangepillapp That’s it, that’s the announcement. The Toxic Happy Hour Pleb Party is BACK - this time in Miami 18th May from 5PM - Midnight.https://www.eventbrite.com/e/anders-pubby-toxic-happy-hour-pleb-party-miami-brought-to-you-by-swancom-tickets-478687135107 Thank you: @coincorner @swanbitcoin @relai_app @ShiftCryptoHQ @wasabiwallet @hodlhodl for your trust and support.  Support the pods via @fountain_app  https://play.fountain.fm/show/2oJTnUm5VKs3xmSVdf5n   Shills and Mench’s: WASABI WALLET - https://www.wasabiwallet.io/ SWAN BITCOIN www.swanbitcoin.com/bitten RELAI APP relai.me/bitten USE CODE - REL727- RELAI DESKTOP https://relai.app/bitten - USE CODE - REL727- SHIFTCRYPTO http://shiftcrypto.ch/bitten Use Code BITTEN COINCORNER https://www.coincorner.com/social/bitten  HODL HODL - https://hodlhodl.com/join/BITTEN  CONFERENCES: BALTIC HONEY BADGER - https://baltichoneybadger.com/buy-tickets BITCOIN MIAMI -  https://b.tc/conference - Use Code  - BITTEN - for a 10% discount. @TheBitcoinConf BTC PRAGUE - www.BTCprague.com USE CODE - BITTEN - For a 10% discount. @BtcPrague Liberty In Our Lifetime - Hosted by Free Cities Foundation. www.libertyinourlifetime.org - @LibertyIOL @freecitiesfound Use code BITTEN for a 10% discount. BITCOIN RESERVE - www.bitcoinreserve.com/bitten SATSBACK - Shop online and earn back sats! https://satsback.com/register/5AxjyPRZV8PNJGlM  UNGOVERNABLE MISFITS - Radical uncensored streetwear - https://ungovernablemisfits.com/?um=bitten  Use code ‘bitten’ for your 10% discount. KONSENSUS NETWORK - Buy bitcoin books in different languages. Use code BITTEN for 10% discount -bitcoinbook.shop/discount/BITTEN HEATBIT - Home Bitcoin mining - https://www.heatbit.com/?ref=DANIELPRINCE - Use code BITTEN.