Finnish.HODL

#Bitcoin 🔑⚡️

[Saifedean Ammous @saifedean]

Happy bitcoin halving day!!

For the first time in history, humans have a form of money whose supply increases by less than 1% per year.

This is a big deal because the hardness of our money is a control knob for our time preference: the degree to which we discount the future. The harder the money, the less its supply increases, the better it holds value into the future, the more it allows you to plan and provide for the future, the more you are able to curb your base immediate impulses in favor of rational future orientation.

All human progress and civilization is intertwined with us finding harder moneys. From cattle to salt to seashells to metals to precious metals, we've constantly progressed by moving to the harder money, allowing us more reliable ways for providing for the future, making us more future-oriented. This culminated with gold becoming the whole world's only money by the end of the 19th century, with annual supply growth of ~2%. Everyone on Earth could save in gold without fear of inflation.

A century of human catastrophe followed when governments banned the monetary use of gold & replaced it with their fiat credit, whose supply increases at ~14% per year. Saving became unattainable and the future more uncertain. Time preference rose as people became more present-oriented, and governments had infinite spending power at the expense of their serfs. Wars became longer and more likely with governments able to rob their citizens effortlessly to finance them.

Bitcoin fixes this. Not only does bitcoin allow us a form of money outside government control, it's also the hardest money to ever exist, making it the most advanced form of money ever, better than even gold. No matter what happens, you can be sure your bitcoin will never be diluted by more than 1% per year.

I discuss these ideas in more detail in my books:

The Bitcoin Standard: https://t.co/KxUygWRRHT

And The Fiat Standard:

https://t.co/GYbEWTNqpZ

[Edward Snowden @Snowden]

Unpopular but true: Bitcoin is the most significant monetary advance since the creation of coinage.

If you don't believe me or don't get it, I don't have time to try to convince you, sorry.

[Stack Hodler @stackhodler]

We're at the dawn of a new age.

For the first time in history, humanity can organize around a monetary constant. Finite digital money will change the basic human experience.

Fire -> wheel -> printing press -> electricity -> Internet -> #Bitcoin

[Arkantos @Arkantos_Q]

Many environmentalists and left-leaning people can somehow see the effects of fiat money but are completely blind to the causes, and thus blame it on "greedy capitalists" and demand more state action. And the worse it gets the more they appeal to authority.

[Felipe Demartini @namcios]

1/ Why doesn’t #Bitcoin move from proof-of-work to proof-of-stake?

A panel yesterday at the Oslo Freedom Forum #OsloFF explained PoW vs PoS in the best way I’ve seen in a while.

A thread 🧵 with quotes 👇

[The Bitcoin Historian @pete_rizzo_]

In honor of the 13th anniversary of the #Bitcoin Genesis Block…

A quick thread on misconceptions about its launch 🧵

[Finnish.HODL @finnishhodl]

@compass_mining Yes.

[Will @WClemente]

#Bitcoin

[D E C E N T M O N E Y @decentmoney2009]

Sometimes I just stop and think about the miracle of how a pseudonymous cypherpunk wrote some code, released it on the Internet and changed the world

No venture capital, no ICO, no marketing campaign

Just an idea captured in code

#Bitcoin

[Erik Cason @Erikcason]

A totally new world and reality becomes possible when you truly start to see and understand what Bitcoin’s hidden purpose is.

It is the opportunity for humanity to shake off the last vestiges of debt slavery through the banishment of fiat money, banking and government.

[Dylan LeClair @DylanLeClair]

It’s time to separate #bitcoin from the “crypto” discussion entirely.

Go build fast and break things in crypto, that’s perfectly fine.

But #bitcoin is establishing itself as the apex predator in global monetary order. They are not the same.

[Alex Gladstein 🌋 ⚡ @gladstein]

1/ This post from the IMF is worth reading.

They are hugely concerned about more countries taking a “shortcut” by making Bitcoin a national currency, as they predict this will hamper their global operations 🧵

[Darin Feinstein @DarinFeinstein]

#Bitcoin is unbreakable

China forced a shutdown of 60%+ of the Bitcoin network infrastructure

There were

No lawsuits
No bankruptcies
No bailouts
No downtime

Network infrastructure just shrugged, and relocated to countries with increased freedoms

[Alex Gladstein 🌋 ⚡ @gladstein]

Some think “Bitcoin fixes this” is a joke. It’s not.

A very partial list of things BTC fixes:

-Extortionate remittances
-Financial censorship
-Elites having special abilities in a monetary system
-Frozen funds
-Immoral sanctions
-Payments without a bank account
-Debased savings

[Alex Gladstein 🌋 ⚡ @gladstein]

Zero to nation-state adoption in 12 years.

Not bad for an open-source competitor to central banking.

Satoshi Nakamoto 👑

[Toni ₿ Profeetta @HeiskanenToni]

"#Bitcoin muuttaa aivan kaiken... @jack Dorsey uskoo, että bitcoinista tulee internetin perusvaluutta."

https://t.co/HWWkimAmlO

[Saifedean Ammous @saifedean]

Miners are bitcoin's slaves, not its masters

[Documenting ₿itcoin 📄 @DocumentingBTC]

Ross Stevens of NYDIG on #Bitcoin, "We are working on something larger than ourselves, sound money for all of humanity"

[Brad Mills 🔑⚡️ @bradmillscan]

BTC Energy FUDbusting Film: 26% raised in the first day.

The planet needs #Bitcoin

If you feel compelled, toss some sats in:
https://t.co/1nIzTT5TVh

If you want to help in other ways, DM @jamie_jk to join the Discord and contribute time & skills.

RT, we only need 37M sats.

[Finnish.HODL @finnishhodl]

@AMERICANHODL3 INTJ