In March 2009 the Fed chair went on 60 Minutes and got asked if the money he was lending banks was tax money.
His answer: "To lend to a bank, we simply use the computer to mark up the size of the account that they have with the Fed."
That's how their money gets made. A few keystrokes.
Yours takes a 40 hour week, and every keystroke they make quietly shrinks what that week buys.
Bitcoin can't be marked up. 21 million coins, and nobody gets a keyboard shortcut.
Whatever side you're on in France right now, everyone just learned the same lesson.
When the streets get messy, the network and the bank are the first things you can't count on.
An app that sends Bitcoin over Bluetooth without either is something you want installed before that day, not after.
.@callebtc announces BitNotes, a multi-mint Cashu wallet that lets you print ecash as physical paper notes you can verify offline. Free and open source, available on Android and macOS.
@Cointelegraph Yes, and it's the part governments will hate most.
They can lean on a few big mining farms.
They can't raid a million hot water tanks.
Every home miner makes Bitcoin harder to stop, and you still get a hot shower out of it.
@SimplyBitcoin Your boiler burns the same electricity either way.
Might as well earn sats and help secure the network while it heats your shower.
Bitcoin's the only money where making more costs real energy.
The central bank's version just costs a keystroke.
@CashApp@Bitkey An app that helps you move your money out of the app.
Try asking your bank to auto-send your savings somewhere it can never freeze, lend out or "review" them.
That's the whole point of Bitcoin. Your keys, your coins, nobody's permission.
Traditional money going obsolete is the one part he's right about.
A world of robots trading with robots still needs money, just not the kind that needs a bank to open the account.
That's Bitcoin.
Every block costs real energy to make, and a robot can hold the keys without asking anyone's permission.
@theswansjr Strange way to sink.
A new block every ten minutes since 2009, no bank holidays, no bailouts, nobody at the wheel to fire.
Meanwhile the "tide has turned" chart needed five arrows and a warning box to explain itself.
Keep your keys, let them keep drawing lines.
In May 2021 the Governor of the Bank of England said Bitcoin has no intrinsic value and you should be prepared to lose all your money.
Bitcoin was around $56,000. It's around $82,000 now.
Meanwhile UK inflation hit 11.1% in October 2022, the highest in 41 years, on his watch.
Turns out the thing you should've been prepared to lose money on was the pound.
Bitcoin can't be printed by the Bank of England or anyone else. That's the intrinsic value he couldn't see.
Banks calling it horrifying when something touches your money without asking is rich.
They lend it out with a 0% reserve requirement and freeze it whenever compliance feels like it, and nobody asks you either.
Bitcoin's the only money a human or a bot can hold and send without asking a bank's permission first.
@Strike Gold bugs always said you can't print gold.
Turns out you can, you just need a fusion reactor and some mercury.
Nobody's building a machine that makes more Bitcoin.
And you don't have to trust anyone's assay either. Run a node and check every single coin yourself.
Nobody agreed to it.
It was decided for you on 15 August 1971, the day the dollar stopped being backed by anything.
Since then saving's been for suckers, so everyone borrows for everything and works till 67 to pay the interest.
Bitcoin flips that.
Money that's actually worth saving again, and you can carry it across any border as 12 words in your head.
@BitcoinCom Monster File #2: The Central Banker.
Can't be killed, only reappointed.
Drains your savings at night, then goes on TV in the morning to tell you it's transitory.
Same silver bullet works on him too.
21 million Bitcoin, and he can't print a single extra one.
In the books the bad guy ends up looking through the stone too.
That's every database of your data eventually.
In 2025 Coinbase support staff got bribed and customers' names, addresses and even ID documents walked out the door.
Bitcoin in your own wallet doesn't need anyone's database to hold it.
Nothing to leak, nothing to freeze.
@TFTC21 $150 trillion of bonds that pay you back in money they can print, and only $12 billion of it has found the exit.
That's 0.008%.
Wait till the rest of the bond market notices 96% of all Bitcoin is already out and there will never be more than 21 million.
In May 2022 the head of the European Central Bank said crypto is 'worth nothing'. Bitcoin was around $29,000.
It's around $82,000 now. The euro she runs has lost purchasing power every single year since.
Worth nothing, says the woman in charge of a currency that's worth a bit less every year.
Bitcoin never needed her approval. Fixed supply and no central bank, so nobody in a Frankfurt office gets to decide what your savings are worth.
Funny how the loudest "Bitcoin is a Ponzi" people are the ones defending a $40 trillion debt that only stays alive because they keep borrowing more to pay for the old stuff.
Bitcoin never promised anyone a payout.
It's 21 million coins and a ledger you can check yourself.
That's it.
@Rajatsoni Money tied to energy already exists.
It's been running since 2009, and every new coin costs real electricity to produce.
The money that's actually becoming irrelevant is the kind a central bank conjures for free.