BWJ 021: Fiat Standard Clarity; Living Your Dream; Bitcoin The Network; and more.
This week: What can we learn from dissecting our current financial system? How does Real Bedford FC inspire action? Why are the insights of Jack Mallers so important?
Fiat Standard Clarity
What can we learn from dissecting our current financial system?
There is no doubt in my mind that Saifedean Ammous is one of the most important Bitcoin educators today. No surprises then that his latest book “The Fiat Standard” was an excellent read, delving succinctly into the depths of our status quo financial system, in a refreshing ‘cut the bullshit’ kind of way.
Having previously founded a failed startup in the foodtech space, the analysis of ‘fiat food’ was a particular highlight, stressing the negative impact central planning combined with money printing has had. It helped answer one of my long unanswered questions: why are we seeing such a drastic deterioration in the nutritional content of most foods?
Critically however, the reader is left under no illusions as to why the fiat system evolved in the first place, which was to solve the problem faced by gold of ‘salability across space’. This insight is then then combined with a breakdown of how the system functions, and the incentives at play, which in summary makes this another essential read for every Bitcoiner.
Living Your Dream
How does Real Bedford FC inspire action?
For years I’ve followed the English Premier League, otherwise known as “The Prem”, as a lifelong Southampton fan. Guilty of visiting the BBC sport ‘gossip’ column far too often, to keep an eye on the latest transfers, I am happy to argue the night away with any friend on the latest developments in the sport.
The story unfolding at Real Bedford is without doubt worth chatting about, a fact more than evident, when listening to Peter McCormack update Dominic Frisby on his plans for the club. Not only is this a classic underdog story, with the potential to see a team rise up from the 10th tier of English football, but it’s headed by a passionate Bitcoiner re-invigorating their local club.
I love these stories, with the evidence of how life-changing Bitcoin can be, right there out in the open. It left me very excited for the future, full of ideas on how to go down a similar route, which was a state of inspiration felt by many others I am sure; Bitcoin will radically transform sport.
Bitcoin The Network
Why are the insights of Jack Mallers so important?
Entrepreneurship is the lifeblood of every economy, a profession characters of all shapes and sizes are drawn to, and a subject of huge personal interest. This discussion between Jack Mallers and Peter McCormack was packed with energy, driven by a young founder, who is building out his vision for a better world with Bitcoin.
What Strike might be one day is anyone’s guess, but I love the insight that to compete on an open monetary network, companies must be focused first and foremost on consumer experience. This is exciting when compared to the financial services industry today, which is often so painful to deal with, and has failed to excite customers for a long time.
To analyse the business proposition a little more, the payments industry in general is not digitally native, so utilising ‘Bitcoin the network’ to help people exchange value with each other makes a lot of sense. I see this as a clear cut case, in which a new technology is able to at least 10x on the previous experience, creating a product that is cheaper, faster, and more user friendly.
We’re So Bloody Early
We were joined by Jeff Booth which was exactly as expected… epic!
Final note: I apologise for such a sporadic start to the year with this newsletter, but family commitments have taken precedent, resulting in some wonderful time spent with my wife and daughter. With the holiday period firmly behind me, I look forward to writing regularly, and continuing this fascinating of journey with you all…