BWJ 011: Become Your Bank; Only One Money; Inflation Defined Correctly; and more.
This week: Why are we witnessing a breakthrough for Human Rights? What makes you so certain Bitcoin is the future global currency of the world? When does one realise it's ok to question beliefs?
Become Your Bank
Why are we witnessing a breakthrough for Human Rights?
If you’re interested in human rights, but have yet to take Bitcoin seriously, then I could not encourage you more strongly to take notice. This latest article by Alex Gladstein, “The Village And The Strongman”, is a wonderful start to that journey.
It’s a lengthy read, but stuffed with insightful first hand accounts of Bitcoins impact in El Salvador, leaving the reader with a balanced picture of the situation. If I was to summarise, there’s been wonderful organic adoption, alongside some concerning political manoeuvring by the country’s leadership.
It’s a striking reminder that all technology is a tool, which a user can utilise as they see fit, regardless of their good or evil intentions. Ultimately though, the ability for individuals to become their own bank, is going to be one of the greatest human right breakthroughs of our time.
Only One Money
What makes you so certain Bitcoin is the future global currency of the world?
Who else finds visual learning easier sometimes? I certainly do given the right circumstances, and love the adage ‘a picture is worth a thousand words’, which rings very true for me when considering this story.
Anil has cleverly picturised huge amounts of Bitcoin content, helping us to understand the subject more deeply, for which I am very grateful. In this tweet thread he explains why Bitcoin is going to be the next global reserve currency, taking inspiration from the excellent Parker Lewis article “Bitcoin Obsoletes All Other Money”.
For those entering ‘crypto’ for the first time, understanding why Bitcoin is the most important (if not only important) cryptocurrency to focus on, can be hard to comprehend. Often it takes getting scammed, and losing money elsewhere, but with excellent educational content like this the future journey of nocoiners is considerably less perilous.
Inflation Defined Correctly
When does one realise it's ok to question beliefs?
My recent life experience is teaching me to question everything: who’s information can I trust? What is the incentive structure behind that? Why do I hold this belief I was taught? Ultimately the mantra ‘do your own research’ has never been more important.
With that in mind, I had again take to Bitcoin Twitter, posing: “what is inflation?” There was one response which stood out, a definition of inflation by the Austrian Economist Ludwig Von Mises, which Conza kindly shared with me.
Unsurprisingly it was contradictory to what my Keynesian Business School background purported to be true, but for that reason, it was an extremely insightful step on my journey to better understanding the world around me. I quote: ”There is inflation or there is the absence of inflation. If there is no increase in the quantity of money and if there is no credit expansion, the average height of prices will by and large remain unchanged.”
Highly recommend:
Listen: “Building Multi-Billion Dollar Companies” with Jihan Wu and Anthony Pompliano
Read: “Central Banks and Socialism Are Forever Linked Together” by Jorg Guido Hulsman
Watch: “Creating A Plan B, Lower Taxes, Increase Freedom” with Katie The Russian and Mark Moss
We’re So Bloody Early
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