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“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” -Satoshi Nakamoto

Point me to a comprehensive tutorial that explains how an individual can run their own #nostr relay.

Every decision involves trade-offs.

Start putting a value on items you see in a store in terms of hours of your life it will take you to earn enough of your nation’s currency to purchase that item. For example…Those $200 pair of shoes will take me 8 hours of my life that I can never get back to purchase. If the shoe enables you to work more efficiently subsequently enabling you to earn more, it could be worth the purchase. If the shoe cannot enhance your productivity, or efficiency you may choose to not purchase the shoe. My son started a small business and now he values his time differently. I heard him tell his sister that he’s not spending his money on something she asked to him to buy because it will take him “X” amount of time to earn that money back. On his own my son made a choice about how much his time is worth and realized his time was worth more than a material item. His behavior (time preference) changed because of his experiences. Give your children the necessary experiences to change their behavior. Whatever that means for you (not telling anyone how to parent). This must be an intentional effort on our part as parents. Hope this inspires someone. Peace & Love

Why would you want to let the public know what you’re spending money on? When I use Venmo I see transactions from many of my coworkers and phone contacts. Is there any good reason to allow the public to see these transactions…?

US Congressman Thomas Massie has read The Bitcoin Standard and enjoyed it so much he tabled legislation to end the Fed! He joined @Saifedean Ammous to discuss The Bitcoin Standard, Austrian economics, American politics, AIPAC and much more!

228. The Bitcoin Standard with Rep. Thomas Massie

US Congressman Thomas Massie has read The Bitcoin Standard and enjoyed it so much he tabled legislation to end the Fed! He joins Saifedean to discu...

Why do humans choose violence over peaceful coexistence?

This is an amazing Economic concept! “The demand for money for storage purposes is not separable from the demand for money for other purposes. Hoarding money is nothing but the custom of holding a greater stock of it than is usual with other economic agents, at other times, or in other places. The hoarded sums of money do not lie idle, whether they are regarded from the social or from the individual point of view. They serve to satisfy a demand for money just as much as any other money does. Now the adherents of the Banking Principle seem to hold the opinion that the demand for storing purposes is elastic and conforms to variations in the demand for money for other purposes in such a way that the total demand for money, i.e. that for storing purposes and that for other purposes taken together, adjusts itself to the existing stock of money without any variation in the objective exchange-value of the monetary unit. This view is entirely mistaken. In fact, the conditions of demand for money, including the demand for storage purposes, is independent of the circumstances of the supply of money.” — The Theory of Money and Credit (LvMI) by Ludwig von Mises https://a.co/iBQqRNk

RFK jr. takes the presidency. I said it first.

“There is no justification whatever for the widespread belief that variations in the quantity of money must lead to inversely proportionate variations in the objective exchange-value of money, so that, for example, a doubling of the quantity of money must lead to a halving of the purchasing power of money.” — The Theory of Money and Credit (LvMI) by Ludwig von Mises https://a.co/bfU0xeM Up to this point I was understanding what Mises was explaining. But this quote seems to say that an increase in the quantity of money does NOT decrease purchasing power. If I’m understanding this correctly this would be completely contradictory to what I’ve come to understand through my dillegent research. @Saifedean Ammous could you shed some scholarly light on this concept please. I really would appreciate your thoughts on this.

I just received a random act of kindness. I’ll be paying it forward as soon as I can.