Just finished writing a midterm exam for econ. Imagine my surprise when I flipped the page and encountered a question asking me to make the case for #Bitcoin as money. That's ~60 econ students who had to ask themselves today, IS bitcoin money? Bound to get some people thinking.
$305 trillion in global debt, but what have we truly gained? ๐Ÿ“š Have we increased access to quality education for all? โš–๏ธ Is there a fair and just global economic system? ๐Ÿฝ๏ธ Does everyone have access to food and water? โ˜ฎ๏ธ Is global peace a reality? ๐ŸŒ What about the state of our environment? ๐Ÿ’ฐ Are wealth disparities narrowing? ๐Ÿ‘ฉโ€โš•๏ธ Has healthcare become more accessible and affordable? ๐ŸŒ Is internet access widespread and affordable? ๐Ÿ‘ฅ Are human rights respected and protected? ๐Ÿ›ฃ๏ธ Are our roads in better condition? ๐Ÿ’ก Has innovation thrived? ๐Ÿš€ How far have we advanced in interplanetary travel?
In my latest article, I delve into the crucial subject of federal debt, exploring its nature and the factors contributing to its significant growth over the past few decades. By establishing a connection between debt and inflation, I aim to highlight the inherent inflationary nature and long-term unsustainability of an economic system reliant on perpetual debt accumulation. I invite you to read the article below to gain a comprehensive understanding of this complex issue๐Ÿ‘‡
Excited to share my recent interview with PlebUnderground and DNComply where I discuss my experience as president of a university #Bitcoin club and the role university clubs play in promoting Bitcoin education and awareness. I first discovered Bitcoin during the pandemic. As an economics major I was instantly fascinated by the idea of a decentralized, peer to peer currency with a fixed supply. I became convinced that Bitcoin is one of the most important innovations of our time. This inspired me to become president of the club. Our clubs main goal is to offer an open space for discussion and education about Bitcoin. We want to provide the necessary tools to help people better understand and study Bitcoin, and to start as many conversations surrounding Bitcoin as we can. By bringing together students, academics, and industry experts Bitcoin clubs can deepen our collective understanding of Bitcoin and speed us towards hyperbitcoinization. If you're currently enrolled in university and are interested in starting a Bitcoin club, make sure to gain a strong understanding of the topic, host regular events and collaborate with other clubs. I highly encourage anyone in university to consider starting a Bitcoin club. Together we can make the world a better place! Check out the full interview below to learn more about my journey with Bitcoin, my role as president and the importance of university clubs in promoting Bitcoin education and awareness.๐Ÿ‘‡
3 things I've learned as president of a university #Bitcoin club๐Ÿ‘‡ 1๏ธโƒฃ Bitcoin is still crypto in the minds of the masses. We have yet to reach an inflection point where it's widely understood that bitcoin is fundamentally different from the array of "cryptocurrencies" that have come after it. Education will play a key role here. 2๏ธโƒฃ Increased Bitcoin education is critical for mass adoption. We are currently in a stage where everyone has heard of bitcoin but very few actually understand it. This has led to bitcoin being widely misunderstood. The good news is people are hungry for information. Therefore, bitcoin education could not be more important than it is today. If you're on the fence about starting some form of btc education, whether a website, writing, or speaking, just do it! Your work will be appreciated. 3๏ธโƒฃ We are fighting an information war with mainstream media. Most people are still rife with misconceptions about scalability, environmental implications, etc. This is an uphill battle. If bitcoin is to succeed, each of us will need to do our part to make that future a reality.
What is the broken window fallacy? First coined by French economist Frรฉdรฉric Bastiat in 1850, this is one of the most common fallacies in economics and is still incredibly relevant today as most policy decisions are made with no regard to opportunity costs๐Ÿ‘‡ Suppose you are the owner of a bakery, one day someone throws a rock through your front window and it shatters. The broken window fallacy mistakenly believes that this damage to property will result in positive economic effects by creating jobs and stimulating economic growth. This assumption is flawed because it ignores the opportunity cost of repairing the broken window. The money you must now spend to repair your window is exactly how much less money you now have to spend on anything else such as buying other goods or investing in new technologies. As such, the economic activity generated by fixing the broken window is completely offset by the economic activity that could have been generated had the window not been broken in the first place. The net effect is that the economy is just as well off as it was before. This fallacy highlights the importance of understanding and considering the opportunity cost of all actions, especially when involving policy, business, and environmental decisions.
I am very excited to announce that I am starting a newsletter where I will be publishing articles on Bitcoin and Economics! My first article "Why Bitcoin?" is now available and focuses on the importance of Bitcoin in the 21st century๐Ÿ‘‡