China banned Bitcoin mining in 2021.
Mining didn't slow down.
It just left the country.
China gave up its lead in Bitcoin to the rest of the world.
Age of Abundance
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A daily live show about the monetary transition from fiat to Bitcoin - AI deflation, energy abundance, and the restoration of humanity. Hosted by Ricky Zhang. Live weekdays at 10am PT / 1pm ET. Clips daily.
Gold bugs think Nixon was the problem.
That 1971 was a fluke we can undo...
It wasn't. Paper claims always build up on physical gold.
Go back, and we end up right here again.
The flaw was that gold has to sit in someone else's vault.
Bitcoin will be adopted to fix the grid before it fixes the money.
Energy failures kill on a deadline.
Currency debasement is a slow fog. You can ignore it.
The wedge isn't the white paper.
It's the substation.
When you try to cheat Bitcoin, you only cheat yourself.
China tried.
Vitalik tried.
Bitcoin Cash tried.
Priced in Bitcoin, every shortcut goes to zero.
What freed the human brain?
Fire.
Cooking meat cut the energy cost of digestion.
That surplus built civilization.
Every leap since has demanded more energy per person.
You think you lost on the merits.
You lost before you opened your mouth.
The listener was running silent checks on you first.
Whether you cared, whether they felt safe, whether you came to serve.
Until those answered yes, no logic ever reaches them.
The debt has to keep expanding.
A country can only blame itself for so long.
Then the blame turns outward: a new enemy across the border.
That's not a plot, that's what made-up money requires.
12 people in a room decide the price of all the money you use.
Every few months they meet at the Federal Reserve.
Every other price in the economy sits on top of theirs.
Red team or blue, no election moves that dial.
What good is being right if no one acts?
Kenji Tateiwa showed Japan's largest utility how to stabilize their grid.
Bitcoin mining could soak up extra power on demand.
They called him a genius.
Then they did nothing for five years.
In Finland, entire city blocks are heated by Bitcoin mining.
New pipes run from the miners straight into homes.
Sauna culture got there first: heat is the product, not the waste.
What people called waste is keeping families warm.
Replacing entry-level jobs with AI is already rational for companies.
A generation with no on-ramp is the result.
Idle youth has always pushed governments toward tighter control - on platforms, on algorithms, on the flow of information.
Cobalt miners hope for their kids.
Genocide survivors hope for their kids.
Hope is the default condition of being human.
Nihilism is the rare exception, not the rule.
What do people regret most on their deathbed?
That they lived someone else's life.
The script is always the same: degree, job, mortgage, debt service.
That script is what debt-based money needs to keep expanding.
Better money hands the choice back to you.
For ten years Larry Fink called Bitcoin a fad.
Then BlackRock launched the ETF.
Bitcoin returns 45 percent a year on average.
The S&P returns 10.
Clients won't let you ignore that forever.
Why does inequality keep widening?
New money reaches asset holders first.
They get to spend it at today's prices.
Wage earners only feel the inflation later.
It's called the Cantillon effect.
A first trillionaire was always coming.
So is a quadrillionaire...
Don't hate the trillionaire - hate what he has a trillion of.
That's what broken money does.
1971 wasn't a policy decision.
It was a bank run.
France sent warships to New York to collect its gold.
The US had issued more paper claims than gold existed.
Nixon defaulted because he had no choice.
Deflation doesn't mean you stop spending.
It means you stop spending on bullshit.
Less impulse food delivery, less doomscroll buying, less gambling - more craft, more savings, more things built to last.
That's what falling prices actually buy you.
Your dollar is a circus ticket.
Nothing in the natural world has backed it since 1971.
It's a belief we all agreed to hold...
And you trade your hours for it.
Inflation isn't loud.
The number in your bank account doesn't move.
Prices creep up. Life costs more.
The next generation has less hope than the last.
And we're told that's normal.