so much ground in this ep, that we split it into two parts.

In part one we cover:

• Nodes. What they are, why they’re important and how they manifest our will onto the Bitcoin Network.
• “Perpetual vigilance on the part of the citizens can achieve what a thousand laws and dozens of alphabetical bureaus with hordes of employees never have and never will achieve: the preservation of a sound currency.”
• This is clearly how Bitcoin & nodes seem to have manifested his quote, but what do you think he envisioned when he said this?
• What is the Malthusian Trap?
• How did we solve for it?
• The productivity theory of wages, and how Marxists in general get child labour so wrong.
• Why real progress requires capital accumulation, technological advancement & public ideology
• “There was never enough slaves to create an iPhone for the Pharaoh.”
• Time preference
• Why is the “evenly rotating economy” always going to be hypothetical ?
• Why there will always be a necessity for Money
• The state & public support
• How money & banking help support a “good opinion” of the state (and at the very least the assumption that it’s a ’necessary evil’)

Follow Michael @BitStein Check out NakamotoInstitute.org