Lingua Contra Imperium
The Language of Bitcoin: 2
TL;DR - The government has pulled us into the deep waters, financially, to keep us vulnerable. Vulnerable people have the highest time preference, because they have the most future uncertainty. We’ve gone from a society that proudly claims to protect and nurture its most vulnerable populations, to a society that creates them as a matter of course. This is why you find yourself treading water financially. Vulnerable people consume without future regard.
Order
If I were to hazard a guess as to what being a Bitcoiner is about, I’d say it’s about the restoration of order to the monetary system so that we can collectively progress in a more honest and efficient way.
Order can be thought of as the arrangement of people or things in relation to each other according to a particular sequence, pattern, or method. The key word here is “particular”. The dollar has no “particular” pattern. It is issued and debased arbitrarily.
As discussed last week[1], a centralized currency such as the U.S. dollar cannot hold. Moreover, markets run inefficiently on this ever varying unit of monetary measure. All fiat currencies fail because no one can resist the temptation to simultaneously print more money for themselves and debase the holdings of others. Bitcoin however, has unforgeable costliness, and a supply cap of 21,000,000.
Bitcoin’s systematic order looks markedly different from that of the U.S dollar. There is no single point of issuance or failure. The supply is fixed, and everyone can participate in the issuance or validation of new coins, and they wear the energy cost of that participation on their sleeve, or at least in a fairly transparent and calculable manner. On the other hand, the energy cost of U.S.
