Guy’s Take #44 – Bitcoin is Not What you Think it is
• Money is not what you think it is
• Great societies are a result of great money
• Money is more foundational than language
• Prices are not arbitrary
• The nature of time
• Money is a tool of information
• Proof of work in ancient history
…And so much more in today’s Guy’s Take!
The many recommended works to dig deeper:
Wittgenstein’s Money
https://bitcoinaudible.com/?p=5659
I, Pencil
https://bitcoinaudible.com/?p=1668
Applying Economics to American History (Tom Woods)
https://www.youtube.com/watch?v=m-LJ3wZjD4I&t=0s
Shelling Out: The Origins of Money
https://bitcoinaudible.com/?p=3531
The Island of Stone Money
https://bitcoinaudible.com/?p=3069
Bitcoin is Time
https://bitcoinaudible.com/?p=5837
On Network Effects, Shelling Points, & Lindy
https://bitcoinaudible.com/?p=4504
Don’t forget our glorious sponsors:
Makes your 401K look like a joke – Swan Bitcoin (swanbitcoin.com/guy)
The “Love your keys” secure, open source hardware wallet – BitBox02 (guyswann.com/bitbox)
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Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
Read_513 – Noahbjectivity on Bitcoin Mining [Nic Carter]
“…And we’re just considering two sources of nonrival energy: clean energy curtailment in China, and vented/flared gas in the U.S. There are many other sources of stranded and nonrival energy sources globally. Suffice to say, there’s enough nonrival energy out there to run Bitcoin many times over. It’s just a matter of deploying hashrate in the right locations, which miners are doing — aggressively.” – Nic Carter
We have another great piece on the energy debate around Bitcoin, this time responding to a Bloomberg article by Noah Smith, but this time with a little twist. It’s not so much about the environmental problem, but the economics and problems of the energy cost of the system, its explosive rise during bull markets, and how this threatens alternative uses, increases costs, and takes precious resources away from chip foundries producing much needed smartphones and computer processors. Is there anything to this criticism? Nic Carter responds in today’s article:
Noahbjectivity on Bitcoin Mining:
https://medium.com/@nic__carter/noahbjectivity-on-bitcoin-mining-2052226310cb
The first article in question – “Bitcoin Miners are on a Path to Self-destruction”:
https://www.bloomberg.com/opinion/articles/2021-03-24/bitcoin-miners-are-on-a-path-to-self-destruction
And Noah’s rebuttal discussed in the Guy’s Take:
https://noahpinion.substack.com/p/bitcoin-mining-and-resource-use
Don’t forget our glorious sponsors:
The SO much better than your stupid 401K plan – Swan Bitcoin (swanbitcoin.com/guy)
& the “Love your keys like family,” secure, open source hardware wallet – BitBox02 (guyswann.com/bitbox)
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Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message
