TD₿: Bitcoin Is a Monumental Event in Human History by Erik Cason
TL;DR Bitcoin represents the return of all of humanity to the radical truth that is honest and accurate accounting.
Hey Bitcoiners,
You can feel it…tensions are rising. Things are starting to get serious. The world appears to be teetering, heading into a winter that will pose significant challenges to both Americans domestically and our allies abroad.
The focus lately has been on Europe, and the spiking cost of energy and food as the Russian-Ukraine invasion marches on. These developments have led to talk that some form of rationing is all but assured this winter to keep households warm and people fed.
We have already seen signs of things starting to escalate with protests across Europe in response to the soaring costs of energy bills. 129,000 people have joined the Don’t Pay UK movement in response to the ~80% increase in current electricity rates that will kick in on October 1st.
Below is a clip from Scotland of individuals burning their electricity bills in protest.
We have also seen a response from governments throughout Europe. Governments from the UK to Germany have been responding with fiscal handouts to their citizens to help them manage the cost of living crisis.
Although I am happy that these governments are printing money to provide their people with much-needed relief rather than bailing out financial institutions, this is still concerning, given inflation in the Eurozone is sitting at record highs.
However, this shouldn’t come as a surprise to anyone who has studied history. In times of crisis, monetary rules and laws are thrown out the window. More fiat is printed to finance war or to cater to the populace's demands …inflation be damned.
In Erik Cason’s wonderful blog post “Bitcoin Is a Monumental Event in Human History,” he writes…
"fiat money is borne out of a declared “emergency” and exists under constant and continued declarations of “emergencies” — all of which benefit the wealth and power of those making the emergency declarations.”
Fiat is money that disincentivizes individuals from saving, which then requires endless emergency government fiscal bailouts to protect its citizens.
Bitcoin is money that incentivizes individual citizens to save so they don’t have to rely on their governments and are better prepared to get through emergency situations independently.
Bitcoin represents a change back to sound money principles where poor energy policies that are not economically viable would never have made it off the drawing board, where it’s not possible to endlessly finance wars, and where money cannot be created out of thin air to spur inflation and then printed again to hopelessly combat it.
Tick tock next block,
Cory Klippsten
Sign up for Swan and be buying bitcoin in minutes with best-in-class service.
Quote of the Day
“Money is simply too powerful for any single person, group, institution, or state to control. Bitcoin fixes this. Bitcoin is simply too powerful for any single person, group, institution, or state to control. Bitcoin is the emergency of fiat money, and it cannot be stopped.” - Erik Cason, Bitcoiner and Writer
Job of the Day
Plan B passport is an investment migration consulting company, focused on citizenship by investment programs worldwide. The company is seeking an immigration attorney with a focus on O-1, EB-1, and E-2 visas.
This is a full-time position. The perfect candidate is an ambitious and out-of-the-box thinker, libertarian capitalist, entrepreneurial, able to work remotely, and highly disciplined.
Not your particular skillset? Check out all the Bitcoin jobs at bitcoinerjobs.com.
Featured Event
Wednesday — come join Bitcoiners at NCR – Global Headquarters in Atlanta, GA, from 6:00-8:00 pm for the 10th meeting of Atlanta BitDevs.
In this meeting, they will be discussing FediMint and how Bitcoin spans across generations.
Not in town for this? Check out all the Bitcoin events at bitcoinerevents.com.
Meme of the Day
my heart feels empty when TD₿ is missing in my inbox, feels really good to have it back, keep'em coming, lots of love (a ple₿ from China)