It's so strange that people will spend so much time and money building political institutions instead of stuff that can provide value to the market. But that's what fiat money produces. Even entrepreneurial energy goes toward zero-sum political games.

We cheer for Assange and Snowden, in part because we don't have the courage to do what they did.

You're not lacking motivation, you're lacking courage and confidence.

Fiat energy like wind and solar only subsidize more rent-seeking. It's a grand social experiment to suspend reality.

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Bitcoin Tech Talk #361

Interesting Stuff

Bitcoin companies will generally want to sacrifice security for superficial, short-term adoption. They're businesses, after all and more customers is how they make money. Users, on the other hand, will want security for their coins and will care much more deeply about true long-term adoption. This continues to be a tension that won't be resolved anytime soon.

Vice drives consumption. Virtue drives saving.

Bitcoin strengthens the grid. Wind and solar weaken the grid. It's really that simple.

Capital going to companies that are earning nominal returns, but not real returns is wasteful. This is the destructive power of inflation and it erodes civilization.

I talked to Marty and Will about fatherhood and families under a Bitcoin standard.