The ability for individuals to send & receive value peer-to-peer without the interference of government & the banking system will be lost. Bitcoin allows for a future where anyone can have private access to their money
3/ If Bitcoin fails, Censorship Wins
We are in an unprecedented age of censorship. Bitcoin is the most secure network that has ever been built. Resilient, antifragile, & permission-less. Open to anyone in the world. There is nothing else like it. Bitcoin can’t be censored
4/ If Bitcoin Fails, Big Government Wins
The government can lose hundreds of billions annually but want us to report every time we spend over $600. There is no government accountably or transparency in our system. Without Bitcoin we lose the only counterweight to that system
5/ If Bitcoin fails, Central Banks Win
Unelected bureaucrats decide the value of your labor & time. Money is the way we store the value of our time on this earth. No one should have the power to inflate the value of your time away from you. Bitcoin’s set 21MM supply fixes this
6/ If Bitcoin fails, Free Speech fails
Bitcoin is code. Letters & numbers. A private key is all you need to be able to store, transport & transact value with. Never in human history has speech & language been this powerful. The freedom to speak is the most basic of human rights
7/ If Bitcoin fails, Objective Truth is Lost
"What is truth?” has never been more convoluted. You can find experts on both sides with “internet facts” supporting them. Bitcoin is the only thing we have that is truly objective & transparent. The longest chain speaks for itself
8/ If Bitcoin fails, The Energy Transition Fails
If the hope is to transition to a new energy future, we need Bitcoin, the energy buyer of first & last resort. Bitcoin monetizes energy waste & incentivizes new & efficient energy resources. Energy & Bitcoin are nearly synonymous
9/ If Bitcoin fails, Capitalism Fails
There is no CEO of Bitcoin. Bitcoin gained value organically, from the bottom up. The Network represents the spirit of capitalism harnessed in code. Self-interest combined with innovation & ingenuity. If you value capitalism, value Bitcoin
10/ If Bitcoin fails, We Will Own Nothing
We don’t own anything of value. Property & money are regulated & stored with custodians. You don’t own it; you just have a claim. With Bitcoin, the value of your life’s work can be stored in a few words. Free to take with you anywhere
11/ Bitcoin is too important to fail
If you value freedom, transparency, and truth, then you should want Bitcoin to succeed
If you value oppression, censorship, and corruption, then you should want Bitcoin to fail
We can't let Bitcoin fail
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1/ The history of energy transitions and why we are not in a new one right now
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2/ Throughout human history energy transitions happen when there are new energy technologies that offer substantial increases in the quality & quantity of energy. These transitions only happen when energy efficiencies gain orders of magnitude
3/ All life on earth is a derived from solar energy. We are made from the stars and from the stars we get the energy needed for life. Plants harvest energy from sunlight using photosynthesis and animals eat plants and use metabolism to extract the energy
2/ A common talking point in media & politics is that “we have to rapidly eliminate fossil fuels”. Not only is eliminating fossil fuels objectively impossible to accomplish, doing so would also be devastating to human progress and is radical to even propose
3/ The 4 Pillars of Modern Society are Cement, Steel, Ammonia and Plastic. The common characteristic of these 4 products is that they depend on large-scale inputs of fossil fuels, both for process heat and as feedstocks. IEA expects the consumption of all 4 to rise 50% by 2050
2/ Over the 20th century the world’s governments moved from a gold standard to a fiat standard. Essentially the government took the power from the banking sector and took over the money
Or the money took over the government, depending how you look at it
3/ Fiat is a debt-based form of money that relies on governments having a monopoly on fiscal and monetary policies. Fiat was created because governments were defaulting on their obligations (debts).
This was the killer use case for fiat. Unlimited debt
If you are an advocate for the “energy transition” you are pro-coal and pro-China, but you don’t have to be, a 🧵:
China alone has more CO2 emissions than the United States and Europe combined. China, Russia and India make up nearly half the worlds emissions.
Yet these countries have yet to seriously participate in the Western world’s push to reduce emissions
China is continuing to build coal fired power plants at a staggering pace. In 2021/20 China is building one new coal power plant per week on avg. In 2020 China built 73GW of new coal power. This is 3x the amount of coal power of all the other countries in the world combined
Bitcoin changes everything you thought you knew about energy
🧵below:
1) The energy industry has historically been a proximity and timing game. Find and exploit energy supply that can be transported economically to where/when the demand is needed. This is sounds simple but modern energy industry is staggering in its complexity and vastness
2) Bitcoin mining is the first time in human history that we have a large-scale & stable demand source of energy that can be located anywhere in the world. This doesn’t sound like a big deal at first, but the rabbit hole is deeper than you can imagine…