Hey everyone, my new book is out, and I've launched a special crowdfund with exclusive rewards like signed copies, hardcover editions, e-books, and audiobooks. Join the crowdfund! https://fiatruinseverything.com
And check out this book trailer made by @CypherpunkCine.
I'm here to answer any questions you might have, about the book or not.
Why do you accept fiat in your crowdfunding and not bitcoin?
You could use for example https://geyser.fund/
I'm using Zaprite. It takes Bitcoin and Lightning in addition to Stripe.
Awesome work Jimmy!
Btw, we're going to integrate fiat to bitcoin payments very soon on Geyser. Would love to hear from you if there is anything we could do on our end to make you consider launching your book on Geyser next time.
What recommendations do you give to teenagers who ask how do they start using Bitcoin?
If they want to just playing around with it, play with a lightning wallet.
If they want to really learn about it, go read the Bitcoin Standard and other books.
What do you think it will happen if Argentina is the next country to make Bitcoin legal tender?
I think Argentina will drastically reduce government and not steal from their citizens nearly as much.
When I was there, it was clear that all foreign imports were taxed heavily. Macbooks there are like $3000. This is all value that's being stolen, in addition to the value stolen via inflation.
Bitcoin will be a part of an enormous economic reform program, I think.
Do you expect the dollar to be the "last fiat standing", or do you think a hybrid brics currency or competing fiat eventually destroys its dominance?
Good question. I definitely think the dollar is one of the last ones standing. If the BRICS currency has convertibility, it has a chance at displacing the dollar at least in some places.
This book should be distributed in schools.
Get them young to understand what evil is fiat.
Only like that they would be able to take the next step and learn about Bitcoin.
If there's demand, I'd love to make a study guide!
Thanks for your support.
If Satoshi suddenly popped out of nowhere and said, "Jimmy, I'll answer one question for you, 100% truthfully." What would you ask?
What do you plan to do with the coins you have?
Good answer, very economics-minded.
I think I'd add, "...and when do you plan to do it?" No matter the answer, maybe it's "Sell them all!" or maybe it's "Burn them," or maybe, "Nothing at all." Regardless, the "when" would be good info to know up front!
(I'm not sure how you would even burn bitcoin.)
If I had a second question, it would be "And how many bitcoins do you have private keys for?" So I would know the magnitude (the Patoshi coins are still uncertain). And finally, the when.
Last question and I'll stop bothering you...
Elon Musk, Mark Zuckerberg, and Craig Wright get into an MMA royal rumble. Who goes out first and who's the last man standing?
This very rare 1-on-1-on-1 MMA fight would indeed be unprecedented. Almost all techniques in MMA assume a single opponent and I don't think we really know very well what works in a three-way fight. Game theory suggests that the weakest two take down the strongest, which in terms of skill is Zuck, but in terms of size is Musk. Though CSW has questionable logic skills, both Musk and Zuck will try to convince CSW to join them in ousting the other guy. Or it's possible that they know he's scum and won't fight fair, to get him out first. Who knows?
I suspect that this is something like a game theory three-body problem.
no matter the result craig will claim it's him
why has Bitcoin adoption not hit a critical mass?
I'm not sure I agree with the premise of the question. What is critical mass? Is it the point of no return when it's inevitable? In that case, I think Bitcoin has hit critical mass already. Is it when it's already won and everyone's using it? That, I think is just a matter of time.
thanks appreciate your time
Do you believe the average person’s ‘real’ quality of life will decrease or increase with the removal of debt for consumption, in a sound system?
Depends on the timeframe. On a short timeframe, the inability to bring consumption forward through debt will hurt a lot of industries. But once a lot of these zombie companies, subsidized by fiat money die, then we'll see a lot better companies making more capital goods that produce more efficiently. So on a longer timeframe, I think we'll have way more wealth.
Tend to agree. Everyone needs to taste the medicine.
If people can perpetually bring consumption forward and yet they’re still unhappy…it’s no wonder so many people are feeling lost & lacking meaning in their lives.
On a personal level (talking in fiat terms) reducing debt for consumption has surely got to increase ‘real’ standards of living vs decreasing it nominally.
Excellent book rollout
Thanks!
If you were to follow-up your latest creation with another book for delving into the fiat system, which non-Bitcoin book would you choose?
Few books really go into the fiat system, but a lot of Gary North's book is good. If I had to choose one book, it would be The Ethics of Money Production by Jorg Guido Hulsmann.
The cool thing about this site is that I can help crowd fund you simply by zapping the post. :)
There are lightning donation options! https://pay.zaprite.com/pl_GqAy4R3xgA
That way, I can keep track of the amounts people are sending for this crowdfund specifically.
Fiat is a trash since the beginning. Starting from the cars brand. XD
Indeed fiat cars are trash. What's really terrible is that new types of transportation are made completely illegal because the bureaucratic state decides what cars people can have. Thus, there haven't really been innovations in cars because it would be too difficult to pass all the bureaucratic checks. And those regulations come from the incumbent car companies. They use the government to protect their racket.
wild
Punk rock thrives in times of struggle. Right now is definitely a time of struggle. Fiat creates struggles, so therefore should also create great punk ruck. How does fiat ruin punk rock?
As my friend Bitcoin Mechanic talked about in our episode about music, punk got really soft and became fiat. He should know, he was a punk musician. For more, check out the podcast. It's literally titled "Punk"
view on youtu.beWhat do you see as the best onboarding ramp for new Bitcoin users and not just holders?
I like CashApp, Strike, River and Swan as good experiences as they don't confuse people with altcoins. The last two are particularly good because they encourage self-custody and have good educational resources for it.
Nice video, I liked the sneaky Bitcoin cameo near the end.
Couldn't find the @CypherpunkCine user to say it directly.
Yea, he's on Twitter: https://twitter.com/CypherpunkCine
What did you have for breakfast today?
I don't eat breakfast, most days. So nothing.
Good luck with your project! Nice trailer btw!
🙏
Very excited for this, thank you!
🙏
Will you be selling them at BBB this week?
If they arrive on time! I'll deliver signed paper copies from the crowdfund.
I'll have other books available and you can pay via Zaprite (BTC, Lightning, Credit Card).
What are the main topic are you concentrate on
In this book? In my life? In Bitcoin? What context?
If fiat ruins everything, does fiat ruin Bitcoin too ?
(for example, since fiat can be printed/digitally created near-infinitely, causing indirect problem for Bitcoin)
Fiat can certainly play fiat games with Bitcoin. For example the leverage that hedge funds and investment banks can use to pump or dump the price of Bitcoin can make Bitcoin seem more volatile than it is. There's also similar dynamics happening with altcoiners that use Bitcoin in their treasury like Luna or Celsius. Ultimately, though, the scarcity of Bitcoin is absolute and these fiat games that these organizations play have a finite shelf life. Hence, when the leverage is unwound, we get back to normalcy, so the damage, in other words, is temporary.
Wait a second, went to the site and you ask to be paid in fiat?
Lightning, Bitcoin and Stripe are the payment options.
Ah, fair enough, didn't get to the checkout.
Watch out, I might jump on your bandwagon and start a counter project: Fiat RUNS Everything.
Nice title! Saifedean basically wrote a similar book, though ;)
the meek shall inherit the earth @jimmysong
@jimmysong did you talk to Joe Rogan about why he doesn't talk about bitcoin? where did you get your information from to base your recent post on?
#222048
I've been trolling you a bit here, yet I have a lot of respect for everything you have done in the space. It seems like these days you post things here, and then don't hang around for the responses.
I think its a bit ironic that this question was sidestepped? @jimmysong , yet that is what you are saying Joe is doing with bitcoin.
I will just say for the record to make a statement about someone like Joe Rogan
"Yet, Rogan's understanding of Bitcoin remains superficial." is somewhat speculative, no?
You frame it as fact, yet it is really just speculation on your part, for whatever reason?
Joe has done a lot for standing up for freedom and being an important non-msm voice on many topics especially in the recent covid era. Who cares if he doesn't want to talk about bitcoin on his show. He has demonstrated that he is a man of integrity.
just an opinion from someone on the internet.
be well @jimmysong
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There are two types of deflation. Natural deflation, which is the decrease in prices as we get better technology and better processes for producing goods and services, which is good. The other deflation is monetary contraction, which happens at the back end of central bank monetary expansion. This is bad.
The stagnation happens under the second type of deflation. Bitcoin causes the first type.
For more, I suggest you read Peter St. Onge's excellent summation of the topic: https://www.profstonge.com/p/the-deflation-is-bad-myth
thanks!