Where @Sal_Pineda1 has focused on the social and cultural aspect, visionary tech entrepreneur Jeff Booth gives us a sober accounting of the battle between deflationary technology and inflationary money.

Terrifyingly, tech has been taking a beating.

The money is made worthless faster than revolutionary tech can make it useful.

But the story isn't over. In fact, we are just now reaching the inflection point.

Fold a piece of paper onto itself fifty times and observe the thickness.

After ten folds - .25 inches.

Twenty - four inches.

Even at thirty folds, it's thirty-four feet.

But the fiftieth?

Nearly seventy MILLION miles - almost to the sun.

This is Moore's Law in action - the defining observation of technological advancement.

For decades we dismiss exponential improvement because it seems irrelevant.

Then it astonishes us.

The car drives itself, better than any human.

The AI detects and treats cancer earlier, more accurate, and for the cost of a few cents of electricity.

The power itself crashes in price such that the peasant of tomorrow will have access to more electricity than the nation-states of mid-century.

The Price of Tomorrow is the story of deflation, the power of exponents, and the questioning of a post-economic society.

The boat shall be rocked, and we're here for the ride.

@thewholeframe and I break this one down, throwing a special thanks to @Nackoo2000 for the recommendation.

spoiler alert: There's a hero in this story…

Sal Pineda shares his personal history, growing up in El Salvador during its civil war and later immigrating to the United States. He reflects on the violence he witnessed and experienced, including the assassination attempt on his father. This background has shaped his understanding of justice, poverty, and the individual's struggle for survival and thriving.

The conversation delves into the nature of violence, contrasting physical violence with structural violence, such as that perpetuated by inflation and economic inequality. While physical violence is direct and immediate, structural violence operates insidiously, eroding hope and opportunities over generations. Pineda argues that both forms of violence are real and damaging, and that recognizing economic violence is crucial for understanding the appeal of Bitcoin. He contends that Bitcoiners are often united by a desire to combat this economic violence and seek truth in a world of obfuscation.

Pineda introduces the concept of a "Bitcoin knowledge network," a decentralized community of individuals contributing to Bitcoin's growth and adoption through various means. This network encompasses educators, researchers, builders, artists, and everyday users, all driven by a shared desire for truth and economic sovereignty. He argues that the knowledge network operates through translation, verification, and creation, turning code into culture and fostering a distributed civic awakening.

The discussion extends to the role of art in a free society. Pineda asserts that true art requires freedom of speech and assembly, which are themselves dependent on economic sovereignty. He envisions a future where Bitcoin fosters an explosion of art, reflecting the newfound freedom and creativity of individuals empowered by the technology. The conversation concludes with a discussion of hope, faith, and the importance of not giving up in the face of adversity. Pineda emphasizes that Bitcoin offers a path towards individual empowerment and a more just economic system, but that it requires active participation and a commitment to truth-telling.

Chapter 7 of @NSmolenski's "The Satoshi Papers" remains in the legal realm after @Sal_Pineda1's transitional justice take.

@wadaniel_ gives us a look at Alternative Dispute Resolution (ADR) systems - courts without states.

eBay (in India) offers a court to dispute reviews.

The Benoam system adjudicates car accidents.

In the Middle East, they gather under trees and have a barbeque! Each of these courts is able to operate without the state. A question comes to rise as we near the end of this book…

Exactly WHAT do we need the state for in the modern era?

link to the book: https://www.amazon.com/Satoshi-Papers-Reflections-Political-Economy/dp/B0F1FNGYD9?sr=8-1

In this episode of Bitcoin Study Sessions, Lucas and Grant delve into part two of David Samson's "Our Tribal Future," discussing the practice of tribalism, the nature of friendship, and community building.

Key Topics:

Summary:

In part two of "Our Tribal Future," David Samson explores the practical applications of tribalism. He argues that we can harness our tribal instincts to build stronger communities and better friendships. The discussion emphasizes the importance of intentional community building, or "camp crafting," to counteract the social isolation prevalent in modern society. This intentional proximity leads to better psychological well-being, family environments, and access to resources. Intentional Proximity is a method to avoid cocooning where married couples socially isolate.

Samson outlines the key components of successful group formation, including love, social networks, cooperation, in-group bias, hierarchy, and individual identity. He introduces the concept of the "honor group," a small circle of close friends bound by honor, which he suggests forming before seeking a romantic partnership. Activities that simulate adversity, such as hot yoga or martial arts, can strengthen group bonds, as well as more general social activities, like D&D. Rituals also play a crucial role, from weekly gatherings to annual trips, reinforcing shared experiences and values. Co-location, or living near group members, further enhances these connections.

The conversation shifts to the potential downsides of tribalism, such as in-group bias and authoritarianism. Samson proposes a moral framework based on concentric circles, where individuals prioritize their inner circle while avoiding harm to those outside it. This framework acknowledges the energy-intensive nature of maintaining extensive social connections.

Bitcoin is introduced as a technology that can scale trust beyond traditional tribal boundaries. The Bitcoin protocol allows strangers to interact securely without needing personal trust or judgment. Samson also discusses four pillars of decentralization stemming from Bitcoin, including communication, law, production, and finance. This decentralization paves the way for network states, intentional communities organized around shared values. He mentions that the US Founding was to promote values of democracy, free markets, and freedom of association and it is now in need of re-founding.

Finally, the episode delves into the concept of the MetaTribe, a universal tribe with the core principle of revising beliefs based on evidence. This MetaTribe aims to mitigate the negative effects of ideology, such as willful unreason and cognitive biases. Participants discuss the viability and implications of embracing this MetaTribe identity, questioning whether such a commitment to evidence-based thinking could undermine the importance of faith, hope, and love. Ultimately, the episode prompts listeners to consider the role of tribalism in their lives and how it can be harnessed for positive change.

Bitcoin Study Sessions #045

"Why Bitcoin is Freedom Money" by Alex Gladstein

Nearly 90% of the world lives without basic monetary freedom.

Imagine losing half your wealth overnight to politics.

Imagine not being able to even have money in your name because of your gender.

Imagine a new ruler comes to power that disagrees with your religion and your place of worship can no longer gather funds to turn the lights on.

This is reality for the great majority of global citizens.

How is bitcoin altering this reality?

Alex Gladstein's voice, writing and "boots-on-the-ground" approach is opening doors for a better world.

Bitcoin enables these freedoms currently being oppressed. Freedom of assembly, religion, movement…things we take for granted in the western world.

Joining the peaceful protest through adoption and use of bitcoin is making a difference for millions - soon to be billions - across the world.

Are you keen to make a difference - even if only for your own family?

Take a listen, give a read.

Share with friends and consider use yours - we're all in this together.

We are joined by Natalie Smolenski, editor of and contributor to "The Satoshi Papers: Reflections on Political Economy After Bitcoin".

Violence - the exercise of force to procure and secure resources and enable payment - is the well-spring from which the state emerged. But the ability to maintain control, seemingly, has been dependent upon the ability of the state to issue money.

What is the world after Bitcoin, when the state is no longer in control of money? If religion is the vehicle to enforce the sacrifice demanded of original sin, how are we think about the spiritual domain in today's world?

The non-profit sector seemingly exists as a reward to those profitable enough to buy themselves into the prosperous world of charity - as the state loses it's coercive power of taxation, what does charity look like in the future?

The discussion of the role of violence casts shadows of Major Jason P. Lowery's SOFTWAR.

Most refreshingly, she reminds us:

The state has no rights. All rights are of the people, who can agree to temporarily delegate limited power to the state.

Perhaps the time has come to review those delegations.

Grant and I agree this is our favorite discussion to date. Natalie's depth and consideration of thought invites the listener to consider the purpose and nature of the existence of state.

Listen intently. Read the book.

Share with friends and consider us yours. We're all in this together.

Bitcoin Study Sessions #043

"Our Tribal Future - Part One"

@thewholeframe & I leave the echo-chamber of sound money advocates in this foray into the science, evolution, and determinism of societal organization - The Tribe, composed of Bands built from Camps.

Author @Primalprimate (Dr. David Samson) provides historical evidence, current events, scientific justification, and more to drive to his definition of tribes as the natural outgrowth of drive for humanity to form coalitions.

In this episode, listeners may ask themselves:

What costly signals do I make to show my alliance to my tribe?

Why is it I view the "other" (sports team, political ideology) with such fervent opposition?

How did selective breeding lead to the scenario that enables pre-meditated "cold-blooded" murder, such as that of Charlie Kirk?

Part One gives us the grounding theory, Part Two gives us the roadmap for success.

Find your tribe, get some sun, be kind. Share with friends, and consider us yours.

We're all in this together.

In this episode, Lucas and Grant discuss Avik Roy's essay "Then They Fight You" from Natalie Smolenski's "The Satoshi Papers," exploring potential U.S. government responses to monetary collapse and Bitcoin's rise.

Key Topics:

Summary:

The episode begins by outlining the stakes of the current economic situation, particularly the mounting national debt in the United States. Grant introduces Avik Roy, the author of the essay "Then They Fight You," which examines the potential responses of the U.S. government to a monetary collapse and the rise of Bitcoin. The discussion revolves around the phrase "First they ignore you, then they laugh at you, then they fight you, then you win," attributed to Mahatma Gandhi, and how it applies to Bitcoin's trajectory.

In this episode of Bitcoin Study Sessions, Lucas and Grant Reichert discuss W. Aaron Daniel's essay "Dispute Resolution Without the State" from the Satoshi Papers, exploring how Bitcoin can revolutionize the judicial system by providing a decentralized, community-embedded method for resolving disputes.

Key Topics:

Summary:

The discussion begins by framing the problem: current judicial systems rely on state coercion, raising the question of how to resolve disputes fairly when money can't be controlled by any single power. Grant provides a granular summary of Daniel's essay, which posits Bitcoin as a solution to universal access to a stable financial and judicial system. The essay introduces Bitcoin dispute resolution (BDR) as a new class of online dispute resolution (ODR) systems that leverage Bitcoin's decentralized network for self-executing monetary judgments, eliminating the need for state enforcement.

The essay is divided into two parts: an examination of existing ODR systems and an explanation of why Bitcoin is particularly well-suited for ODR. Existing ODR systems are categorized as off-chain (e.g., eBay in India, Mobile Jirga in Afghanistan, Benoam in Israel, Prospera Arbitration Center in Honduras) and on-chain (BISC and Kleros). These examples demonstrate that private, non-state-reliant ODR systems can function effectively, especially when parties consent and buy into the system. eBay's community court system in India uses an algorithm to select jurors who review evidence and disperse funds automatically. The Mobile Jirga in Afghanistan was a proposed online system where elders could remotely resolve disputes. The Benoam system in Israel is a private court system for insurance companies that uses experts to decide cases. The Prospera Arbitration Center is an ODR system where residents consent to abide by the judgment. BISC is a peer-to-peer Bitcoin exchange that resolves disputes with a two-of-two multi-signature system, while Kleros on Ethereum uses crowdsourced decision-making with jurors predicting the most popular outcome.

The second part of the essay explores Bitcoin's role in potential ODR systems. Bitcoin meets the conditions for a successful ODR system: control of the flow of funds and community embedment. As a stable, independent, and programmable financial system, Bitcoin allows for automatic fund dispersal through smart contracts. Its permissionless nature and global communities can adapt and design ODR systems consistent with their norms. Two examples of BDR systems are presented: a local community BDR court model using Fediment and a BDR for existing online communities like open-source software development. Fediment enables communities to create their own financial operating systems, allowing for control of funds and community-designated dispute resolution systems. For online communities, BDR could automate bounties with third-party reviewers adjudicating whether a bounty was met, triggering the release of Bitcoin from an escrow.

The conversation touches on the moral hazards of bounty systems, where submitters may not be compensated fairly. Daniel's proposed BDR solution mitigates this risk through community-sourced adjudication and time-locked multi-signature smart contracts, ensuring that funds are only dispersed upon resolution. The discussion emphasizes that these systems offer dispute resolution based on consent rather than coercion, potentially improving the legal system and making it fairer and cheaper. Additionally, BDR systems could be applied in transitional justice settings, providing a stable, independent court system resistant to the biases often present in transitional courts. The potential for BDR to expand access to justice and promote the rule of law is highlighted, emphasizing that Bitcoin empowers communities to establish justice irrespective of the quality or fairness of state courts.

This Bitcoin Study Sessions episode features a focusing on Argentina's economic history, central banking, and the rise of Javier Milei.

Key Topics:

Summary:

The conversation begins with framing Argentina's situation within a larger global movement involving populism, libertarian politics, and the embrace of Bitcoin. Grant provides an overview of the essay, which covers the history of central banking and fiat, the specific context of central banking in Argentina, the rise of Javier Milei, and Bitcoin's potential role given Milei's politics. Bebchuk emphasizes that money developed before the state and highlights coinage as a military innovation, as well as its symbolic role in reminding people of their debt to the issuer.

The discussion shifts to Argentina's history of central banking, noting the country's frequent currency changes and pendulum swings between expansionist and liberal economic models. The Argentinian Central Bank (BCRA) is described as a political tool lacking independence. The rise of Javier Milei is discussed, including his unique form of libertarianism and his plans for free currency competition, the elimination of the central bank, and broader reforms. The potential role of Bitcoin is then considered, with Milei seeming to favor the U.S. dollar in a free currency competition, while Bitcoin offers independence from any sovereign.

Lucas emphasizes that understanding Bitcoin provides insights into human behavior and rational/irrational decisions. He views government control of money as a feature, not a bug, benefiting the government at the expense of the people. Converting to Bitcoin is seen as leaving an unwinnable game for a fairer one. Lucas points out positive economic effects of Milei's policies, such as GDP growth and reduced inflation, but also notes increased unemployment. The conversation touches on criticisms of Milei from pure libertarians who advocate no compromise with the state.

Grant asks Lucas to clarify the meaning of free currency competition and how it differs from El Salvador's approach of establishing Bitcoin as legal tender. Lucas responds that letting the free market work is the wiser decision. They discuss Milei's proposal to make Argentina a place for crypto dollars, which could open the market for U.S. debt and potentially devalue the dollar against hard currencies like Bitcoin, gold-backed Russian rubles, or Chinese yuan.

The discussion turns to cultural hegemony and its role in political movements. Grant mentions Chris Rufo, who is using cultural theories to regain control of institutions. They ponder whether the Bitcoin community needs to focus on winning a cultural battle, and not solely on economics. Lucas believes culture always precedes economic decisions, highlighting the rise of libertarian comedy, movies, and music. He states that the rules, beliefs, and ideologies of Bitcoin align with that.

Lucas argues that Bitcoin art is not about Bitcoin, but about beauty, love, and hope, representing those things honestly without conforming to an existing ideology. He makes an observation that when something is useful, it will be beautiful by default. Grant notes that fiat is a political process of sausage making, and is viscerally ugly, whereas Bitcoin is math autonomously operating and creating a new reality and visualizations of that are powerfully aesthetic.