I talked to @Saifedean Ammous about his new book, Principles of Economics. We discussed the idea of scarcity, the only real restriction to production being human time, the reason why human action is so important and the ridiculousness of simplifying human beings so they are assumed to act the same. We also talked about the reason why energy is such an important part of economic life and how unemployment is really a fiat phenomenon.
https://rumble.com/v3ulghm-bitcoin-fixes-this-113-principles-of-economics-with-saifedean-ammous.html
How do altcoiners get away with being wrong so often for so long? Because the people that follow desperately want them to be right. And in some way, think that they can make it right by getting enough people to believe.
That's how Keynesian Beauty Contests work. Money, however, is not a Keynesian Beauty Contest and Keynesian Beauty Contests only work in an economy flooded with money printing.
Free issue for the first Monday of the month!
Rent seeking engineers, Asians and standardized testing, smashing altcoiners and their enablers, Fiat Ruins this ebook and audiobook, Payjoin history, torrents paid via Bitcoin, Lightning eSim, Tether balance sheet, Bitcoin Pope and more!
#Bitcoin Tech Talk #369
The money lost by people in FTX, Celsius, BitBoy, BlockFi and many, many others is on the heads of those that made this scamming normal. Namely, VCs, altcoin founders, marketers/influencers who are all not just rent seekers, but straight up scammers.
Fiat Ruins Everything is now available as an audiobook!
I would really appreciate a review if you've read or listened to the book.
https://amzn.to/3QIdQaK