In unanimous Declaration of the decentralized Nodes of Bitcoin, when in the course of human events, it becomes necessary for people to dissolve the monetary bands which have connected them with another, and to assume the separate and equal station to which the Laws of Natural Money, and of Human Nature, entitle them, a decent respect to the opinions of humankind requires that they should declare the causes which impel them to separation.
We hodl these truths to be self-evident, that all humans deserve certain unalienable rights, that among these are Life, Liberty and Property. That to secure these rights, Bitcoin is instituted among humans, deriving powers from the consent of the Node Operators, that whenever any form of Monetary Policy becomes destructive to these ends, it is the right of the Node Operators to alter or abolish it, and to institute a new Monetary Policy, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Property. …
“We’re all Keynesians now.” Milton Friedman coined the phrase, often miscredited to Richard Nixon, back in 1965. And that hasn’t changed since then. Unless you began your Austrian economic education at birth in some unknown Austrian paradise, on this planet at this particular time in human history, I think we can safely say we’re all Keynesians by default.
A default Keynesian is a person who, probably unwittingly and passively, supports the centralized monetary and fiscal policies that are descended from the ideas of economist John Maynard Keynes simply because that’s the way things are now.
He’s a dead economist whose ideas currently have an effective ideological monopoly on the global economy. …
I should say “probably wrong” because we can’t be certain of anything at all when trying to predict the future. Yet we strive to make the best predictions we can. Predicting is what our brains do. And trying to predict what will happen with bitcoin and the global economy in the coming decades is my current prediction obsession.
I’m a relative noob to bitcoin. I’ve spent almost a year now immersed in learning about it. Figuring out what to think about the Great Bitcoin Scaling Debate took up a lot of that learning time last year (more about the drama of that whole process in another post soon). I sorted through the mess and decided that the Bitcoin Core approach to scaling was the most likely to succeed. And since then it has become clear that the arguments Roger Ver is still making in defense of the Bitcoin ABC fork (an implementation of Bitcoin Cash) of the Bitcoin Core (an implementation of Bitcoin) project are wrong. My hope is that this will help others who still trying to sort out the Bitcoin vs. …
To be a “good citizen” of bitcoin you need to take personal responsibility for your education. There is so much to learn. Computer science, networking, economics, game theory, cryptography, security and much more. We were overwhelmed when we started, too. Still are.
But we’re fascinated. And we know that bitcoin education is already and will only become more important. With Citizen Bitcoin we are taking the leap from learn to teach.
We are still learning, too. We’ll make mistakes. But we pledge to learn from our mistakes and to seek clear understanding. …
1. Bitcoin is presently a store of value as are gold and traditional currency.
2. Centralized or decentralized control:
3. Overall unit volume amount held differs depending on type: