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Bitcoin Benkyo
@BitcoinBenkyou
Something is quietly eating your savings. It's completely legal. Nobody warned you. Nobody asked permission. Mina & Sato explain what can't be taken.
Joined April 2023
182 Following
114 Followers
176 Posts
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We spend our lives trading time for money.
But what if we’re asking the wrong questions?
A short cinematic anime teaser.
@DylanLeClair Hodler forever 🙌🏽
@keshiAIart This is the best ai video I've seen, very anti-slop.
I'm so curious to learn how to do this
Would you ever take a student if paid?
@BitcoinHouseMY Exciting times! Bitcoin needs more media and entertainment for sure !
How Money Broke. #5: The Gold Standard
In 1965, France sent warships to New York.
Not to attack. To collect gold.
For decades the deal was simple. Every dollar was a receipt. Redeemable for real gold.
Fixed rate.
Guaranteed.
President De Gaulle had done the math. The US was printing more receipts than it had gold to back them.
He wanted France's share. In physical metal. Before the lie became official.
He was right.
Wars. Welfare. Empire.
The printing started quietly. The promise stayed loud.
By the time De Gaulle's ships arrived the vaults couldn't cover the receipts.
The entire world was holding paper backed by gold that wasn't there.
August 15, 1971.
Nixon goes on television.
Closes the gold window. Ends dollar-to-gold conversion. Breaks the promise every country on earth built their money on.
He called it temporary...
That was 55 years ago.
Every currency on earth is striving for air, still waiting for the window to reopen.
Bitcoin. No window. No Nixon. The promise is in the math.
#Bitcoin #MoneyHistory
@MiraiStudio_ Wow nice, what tools did you use ?
@MiraiStudio_ Awesome is this going to be a video?
@RoaringRagnar Im going to also call the USD that from now on 😂
How Money Broke. #4: The Goldsmiths
Nobody planned modern banking.
A goldsmith just noticed something.
Medieval merchants stored gold in vaults. Too heavy to carry. Too dangerous to move.
The goldsmith gave them paper receipts. People started trading the receipts instead.
The paper became the money.
Then he noticed something else.
Nobody ever came for all the gold at once.
Maybe 10% at any moment.
The rest just traded paper.
So he started issuing more receipts than he had gold.
Lending promises he couldn't fully keep. Charging interest on money that didn't exist. Hoping nobody checked the vault.
Nobody did.
No law was passed.
No vote was taken.
One man decided the receipts didn't need to match the vault.
Your bank does exactly this today.
When you take a mortgage, the bank doesn't find existing money. It types new money into existence. The loan creates the money.
The Bank of England confirmed this in 2014. Most people still don't know.
The goldsmith's trick never stopped. It just got a nicer building.
And a government guarantee.
#MoneyHistory
How Money Broke. #3: Coined Money
Every coin in your pocket has ridges.
You've never thought about why.
In ancient Rome, people shaved the edges off silver coins. Pocket the metal dust. Pass the lighter coin as full value.
So mints added ridges. Tamper with the edge and it shows.
The problem wasn't the people shaving coins.
It was what the government did next.
Rome needed money for wars. So they did what governments do.
They controlled the mint.
Under Augustus: the denarius was 90% silver.
They shaved a little each cycle. Quietly. Officially. Legally.
By the 3rd century: under 5%.
No announcement.
No warning.
Just the same coin with a different promise inside.
Prices exploded. The empire cracked.
Mina:
"They didn't steal it in one day. They stole it slowly, so you wouldn't notice until it was gone."
The ridges on your coins are a 2,000 year old warning about the people who control the mint.
They're still there. So is the problem...
#MoneyHistory
How Money Broke. #2: Commodity Money
On a tiny Pacific island called Yap, money was made of stone.
Giant limestone discs. Some weighed 4 tons.
To make one, you sailed 400km to Palau. Quarried the rock by hand. Sailed it back on a raft.
Men died doing this.
That danger was the point. The difficulty was the supply cap. Nobody could fake the work.
It ran for 500 years.
Then David O'Keefe arrived.
He had modern ships. Iron tools. And no respect for why the system worked.
He mass-produced the stones. Flooded the island with them.
Nobody robbed anyone. Nobody passed a law.
One man just made the hard thing easy.
And 500 years of working money collapsed in a single generation.
Sato:
"The stone didn't fail. The scarcity did. The moment someone could make more... it was over."
Every commodity money in history had the same single weakness:
If someone finds a cheaper way to make it, you lose everything.
#MoneyHistory
Money Always Breaks. #1: Barter
A farmer walks into town.
He has wheat. He needs a haircut.
The barber doesn't need wheat.
Nobody gets paid.
Nobody eats.
For barter to work, both people need to want exactly what the other has at the exact same moment.
Every time. Every trade. Every transaction.
You can't build a civilization on that.
A doctor, a baker, a carpenter walk into the same market. The numbers collapse before anyone opens their mouth.
Sato:
"Barter didn't fail because people were greedy. It failed because the math ran out."
Every economy that tried to stay here hit the same wall.
Then they invented something better.
Then someone figured out how to break that too.
#MoneyHistory
Norman sat down with his coffee.
"I looked into crypto," he said proudly.
"Bitcoin, Ethereum, Solana."
"All in my portfolio now."
Mina put her head in her hand.
Not dramatically.
Just the quiet way you do when you've heard this before.
"Those are not the same thing."
Norman smiled.
"They're all blockchain though, right?"
Mina replied
"Inception and Sharknado 3 are both movies."
Norman opened his mouth.
Then looked at his coffee.
Nobody told him there was a difference.
The market told him everything was the same. That was on purpose.
One of these has a fixed supply. Rules nobody can change. No CEO. No switch to flip.
The others have all three.
Bitcoin is not crypto. It was just first.
@NatBrunel has explains this distinction more clearly than almost anyone alive.
#Bitcoin #NotYourKeys #Bitcoinisforeveryone
Norman found his childhood piggy bank.
Shook it. Still had coins inside.
He smiled.
"A Mars bar used to cost 20 cents," he said.
"Saved up for weeks to buy one."
Mina looked at the coins.
Then at Norman.
"What does a Mars bar cost now?"
Norman thought about it.
"Like... $2.50?"
"The coins didn't change."
"Everything they buy did."
Nobody stole from Norman's piggy bank.
No one broke in. No one took a thing.
It just quietly emptied itself.
Every year. While it sat there looking full.
Bitcoin can't do that. The supply is fixed. The rules don't change.
21 million. Forever.
#Bitcoin
Ten years ago a house cost 100 Bitcoin.
Today it costs 4...
The house didn't get cheaper. The measuring stick got more honest.
Your parents saved in dollars their whole lives. Their parents did the same. The house kept getting further away.
Nobody explained why.
Sato: "Price in dollars went up. Price in Bitcoin went down. The house didn't change. The money did."
Maybe you should research why.
#Bitcoin #Housing
They were polite about it.
Smiled while they searched my bags. Thanked me for my cooperation. Took my jewelry. My cash. My grandmother's ring.
Called it procedure.
I crossed the border with nothing. Not because I had nothing. Because everything I had could be touched and easily taken.
Three weeks later I found Bitcoin.
Twelve words. Held in your head. It crosses every border that gold cannot. No bag. No declaration. No procedure.
I understood it the way you understand something you needed years before you found it.
Now it's mine.
And it will always be mine.
#Bitcoin #Mina
Laleh fled Afghanistan in 2016.
Foot. Car. Train. Thousands of miles through Iran and Turkey. At every crossing, someone took something. Jewelry. Cash. Whatever she carried.
She arrived with the clothes on her back...
And 2.5 Bitcoin. Hidden in twelve words on a scrap of paper. The smugglers never knew what they were looking for.
Mina: "Gold has weight. Memory doesn't."
Bitcoin was built for this moment before this moment existed. No border guard has jurisdiction over twelve words in your head.
@gladstein documented Laleh's story, it is worth your time.
#Bitcoin #HumanRights
And they said you cant buy coffee with bitcoin…
Square just omega-candled the merchant bitcoin adoption chart.
@RoaringRagnar Monumental for the brits for sure
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