BWJ 018: Tonga Remittance Revolution; Great Reset Defence; Petrodollar Plays Part; & more.
This week: How important is the lightning network for diaspora? What are the dangers of a global monetary reset? Why we should analyse the status quo more closely?
Tonga Remittance Revolution
How important is the lightning network for diaspora?
Every Thursday at 20.00 Melbourne I host a twitter spaces, which has been a great way to meet Bitcoiners, with heated debates on all the ramifications of this nascent technology. This week was of particular note however, as we were joined by Lord Fusitu’a, who kindly took us on his very personal journey to Bitcoin and it’s potential in his country Tonga.
I was left most excited by the positive social impact potential, specifically the use of the lightning network to facilitate micro payments across boarders, helping hard working families avoid the staggeringly expensive remittance market. He explained that a Sydney based Tongan, sending $100 home, is likely to see around 50% of that actually make it into the savings of their family; WTF!
Sadly due to technical difficulties I could not hear the last 30 minutes of the conversation, but shout out to my co-host Gary for helping to organise, who later filled me in that there are many other countries making bold moves towards Bitcoin. If you would like to join our conversations, jump in our telegram group, and keep an eye out for the next one!
Great Reset Defence
What are the dangers of a global monetary reset?
Bitcoin takes you down many rabbit holes, some more concerning than others, which was certainly the case with this conversation between Laser Hodl and Marty Bent. What is a monetary reset? Why do I need to care? How can I begin to defend against this threat? Are all questions that one can begin to assimilate on digesting this great content.
I love that there are people in the world, digging deeper than the mainstream narrative, and willing to share the information they find. Make no mistake, we must be on high alert, there is a severe threat to our liberty masquerading as altruism.
Of course, without Bitcoin and the huge sense of optimism I have because of it, we would be on a very dystopian path. It’s the perfect antidote to a scenario so many seem totally comfortable with currently, like many in my social circle who show a complete dis-interest to take that step of additional research, people perhaps en route to “own nothing, and be happy”… Not something I’ll be opting for!
Petrodollar Plays Part
Why we should analyse the status quo more closely?
Readers of this newsletter will be well aware of my fondness for the work of Alex Gladstein, who consistently takes on tough subjects in the Bitcoin space, with an emphasis on human rights. Importantly in this piece, “Uncovering The Hidden Costs Of The Petrodollar”, he asks some hard questions of the status quo today.
I was impressed by his ability to remain seemingly impartial, whilst explaining some shocking details I had not comprehended to date, in relation to Oil, the USD, and high-level geopolitics. Analysis like this is not only helpful in sparking more research, but highlights how frankly ‘fucked up’ the world is in which we inhabit, with complex incentive structures and unforeseen externalities impacting all of us.
Feeling better educated about our history of money, helps to take on the obvious questions for Bitcoin, around why it is a better option than the current system; a stance we would not occupy if one didn’t understand what we have built to date. I’ve linked the audio version from Guy Swan, who as usual does a great job of not only delivering the content, but also has some nice personal takes to conclude.
We’re So Bloody Early
We’ve kicked off season 2 with Mark Moss!
If you haven’t enjoyed any of Mark’s analysis, then you’re missing out, wonderful distillation of why today is such an exciting time to be part of the Bitcoin story.