Saifedean Ammous
@saifedean
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Author of The Bitcoin Standard, out in 38 languages, The Fiat Standard & Principles of Economics! Teaching Economics courses on !
Joined December 2008
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Pinned Tweet
There comes a point in life when you ask yourself "What is this Bitcoin thing & why should I care?"
answers!
With books by
@LynAldenContact
,
@parkeralewis
,
@Matthewlysiak
& me, including The Bitcoin Standard, which sold 1 million copies in 37 languages!
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Canadians pay half their income in taxes, wait 2 years to see a specialist, and bleed for 18 hours in an ER next to a dozen addicts looking for free drugs, and then rave about how awesome it is that they have "free healthcare".
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Finally someone other than me brings up the irrefutable fact that Bill Gates' manboobs disqualify him from having any say on health issues.
@joerogan
Joe Rogan Goes Fully Automatic on Bill Gates Giving Public Health Advice When He Himself 'Looks Like Shit'
"He's got these breasts and this gut... [He] has access to the best nutrients, an amazing trainer... You're giving out health advice and you're sick!"
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@elonmusk
Unless you've also switched your rockets and battery manufacturing to "more sustainable energy" you're going to look like a clueless big hypocrite here. The world needs sound money far more than it needs your rockets & government-subsidized electric cars.
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Bitcoin consumes so much energy because it uses a fully mechanical & digital process to ascertain truth. It doesn't rely on the authority of anyone.
It isn't a more energy-intensive way of doing consumer payments; it's a less energy-intensive way of achieving consensus than war.
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@Twitter
was paying their hall monitor
@vijaya
$17m a year to delete accounts that disagree with The Current Thing.
#LateStageFiat
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Global bonds are collapsing in their fiat currencies, which are collapsing against the dollar, which is fast losing purchasing power. It will be months & years before the average fiat user realizes just how much they're getting ruined financially. The "new normal" is poverty.
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Happy bitcoin halving day!!
For the first time in history, humans have a form of money whose supply increases by less than 1% per year.
This is a big deal because the hardness of our money is a control knob for our time preference: the degree to which we discount the future.
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.
@RepThomasMassie
read The Bitcoin Standard and decided to propose legislation to end the Fed!
You're welcome, America!
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Man found a fortune of old gold-backed Lebanese & Syrian money that was likely worth dozens of kilograms of gold when it was buried. Thanks to fiat, it's now worth nothing.
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There is no climate crisis. There is a crisis of lack of affordable essential hydrocarbon fuels caused by the morons who believe in a climate crisis. Kindly stop being one of those morons as billions of lives depend on these fuels & you can't control the climate.
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Periodic reminder:
You can download free digital copies of The Bitcoin Standard and The Fiat Standard from Library Genesis. I don't believe intellectual property can be stolen, and I think piracy is the best marketing!
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It's nice that politicians are pandering to bitcoiners, but promises are cheap. There is a major insurmountable obstacle to the US govt buying bitcoin: The US govt does NOT own or control the US Federal Reserve, which is a cartel of private banks. The US President can't just tell
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If you think propaganda doesn't work, remember your average university/TV/social media consumer is worried about cow farts & an essential trace gas rising from 0.028% to 0.041% of atmosphere, while seeing nothing concerning about inflation or totalitarian medical central planning
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Just recorded an intense 3 hour seminar with Michael
@Saylor
on inflation, governments buying bitcoin, bitcoin and the bond market, how to get debt to buy bitcoin & not get rekt, mining, small business bitcoin strategy & much more.
Prepare yourself, it'll be out in a few days!
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Your groceries aren't becoming more expensive; your money is becoming less valuable. Your supermarket is not the problem; your central bank is.
Only bitcoin fixes this.
Grocery stores have razor-thin profit margins and people are talking about them price gouging. 🤷♀️
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Bitcoiners and shitcoiners are not on the same team. They couldn't be more different.
Bitcoiners see a once-in-a-millennium chance for the total eradication of seigniorage & monetary parasites.
Shitcoiners just see an opportunity for them to become the monetary parasites.
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The most entertaining sport to watch over the next 2 years will be the mental gymnastics of fiat economists explaining to you why locking people at home, banning them from work, and printing trillions of dollars are actually unrelated to price rises & economic crises.
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Everyone shocked & rekt by FTX, Luna, Celsius, and 3AC blowing up thinks Ethereum is a legitimate and sound project.
Everyone who expected FTX, Luna, Celsius, & 3AC to blow up & is unaffected by it thinks Ethereum is a doomed vaporware ponzi.
Lesson in there.
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Under a fiat standard, you can save up for a $41m house with a salary of $160,000 simply by being one of the few in charge of the money printer.
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I remember when people thought Elon Musk was the real Satoshi. Turns out he's the real Craig Wright.
@itsALLrisky
Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.
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Bitcoin, as it is, saved my family from hyperinflation in Lebanon. It is entirely essential to my life. It works perfectly fine for me as it is. It is not some "cool" piece of software whose next iterations I'm "excited" about. It is my lifeline. If it never ads a single
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10 years ago, if you invested $10,000 in long-term treasuries & reinvested yields you'd have $11,172 today
If instead you invested $10,000 in bitcoin, you'd have $761,290
Lending money to gov'ts to kill foreigners, bail out banks & buy elections is exactly as dumb as it sounds
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Do you realize how stupid we are going to look to future generations when they find out most of us believed the only way for money to work is to have a banking cartel that can create it out of thin air?
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@elonmusk
Just take bitcoin, they can't stop that, it gives you more leverage to keep getting paid in spite of them, and it encourages Brazilians to look into bitcoin and exiting their government's fiat ponzi!
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Fiatbros might want to psychologically prepare for the possibility bitcoin price recovers, Bukele wins re-election, and he spends years debt-free dunking on broke first world presidents and central banks on Twitter.
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Since Turkish president Erdogan declared war on Bitcoin on September 20, Bitcoin is up more than 100% against his Turkish lira.
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Even after this huge crash, bitcoin still beats all pretenders for long-term saving
If you spent the last 5 years saving $100 a month, here's what you would have today if you put it in:
Bitcoin: $29,212
S&P500: $7,743
Dow Jones: $7,654
Gold: $7,089
PIMCO Active Bond ETF: $5,387
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Another country with no currency adopts bitcoin rather than solely rely on a foreign central bank expropriating its wealth through inflation.
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Just had a wonderful long conversation with
@jordanbpeterson
on bitcoin, fiat, time preference, Austrian economics, online education, and much more. It will be out in early November.
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My highly enjoyable conversation with with Dr.
@jordanbpeterson
on bitcoin, fiat, time preference, and much more!
Thank you so much Dr Peterson!
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Nassim Nicholas Tantrum has gone from endorsing my book to obsessively insulting me in public without once making any reference to my work.
Why?
Because I refused to join him on his insane cowardly hysterical crusade to shut down the planet with his friends at the WEF.
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Twitter taught me more than any school, university, or website ever could. It gave me a voice, an audience, and a new career, and it made me a much better writer.
I am forever grateful to you for building my favorite website,
@jack
, and I can't wait to see what you build next!
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We now have exactly 20,000 shitcoins.
That's enough shitcoining for a whole millennium.
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Why take your bitcoin off exchanges:
Bitcoin exchanges are run by people who learned fiat finance. Gambling with depositors' money is normal & healthy for them, because in the fiat system the central bank destroys the currency to bail them out every time it goes wrong.
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I travel a lot, and almost everywhere I go these days, people are pessimistic & complaining, mainly about economics. El Salvador is an amazing exception. Everyone is truly excited about a future where the streets are safe & gangs aren't extorting & terrorizing everyone.
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My theory of why hard money lowers time preference in a tweet:
The harder the money, the more likely it is to hold value for the future. The more you can send value to the future, the less uncertain the future becomes, the less you discount the future.
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Carbonhysterics are so gullible none of them has ever noticed that the people who get rich from promoting carbonhysteria buy expensive houses at the very beachfronts they say will be underwater.
#ListenToTheScience
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Going off the gold standard in 1914 stopped a centuries-long increase in affordability of homes by degrading the value of money, forcing people to use their homes as saving accounts, raising house prices beyond the rise in income
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"97% of priests agree that child sacrifice is necessary for a good harvest. What makes you think you know better what we should do with your child? You are not even a priest! Stop being selfish and hand over your kid!"
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I ran the numbers on washing machine electricity usage and I am APPALLED.
850m washing machines worldwide consume around 140 GWh of electricity every year.
I'm only washing my clothes with my hand from now on & will start a campaign to ban washing machines!
#TweetLikeANocoiner
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1 bitcoin will always be 0.00000476% of all the bitcoin that will ever exist.
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A cousin of mine met with a financial advisor, who explained to him his sophisticated investment products & showing him their track record.
Cousin: That's nice. But buying bitcoin outperforms all of this and doesn't require fees or active management.
Financial advisor: Good
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Fasten your seatbelts we've already arrived at the issuing-joint-statements-on-Sunday-promising-everything-is-fine stage of fiat dysfunction.
BREAKING: US Federal Reserve and Treasury Secretary Yellen say US banking system's capital and liquidity positions are robust and the financial system is resilient
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American houses did not magically become ~6x more valuable. American money became ~6x less valuable.
In 1981, the cost of a single family home was $66,125.
The average home price currently in America is $410,110.
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Thrilled, honored and excited to start working with the Bitcoin Office in the first country to adopt a bitcoin standard!
When the author of the Bitcoin Standard met the leader of Bitcoin Country, great things were bound to happen.
We are excited to announce that
@saifedean
is joining us as Economic Advisor to the National Bitcoin Office of El Salvador.
Welcome to the winning team, Dr Ammous!
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This is the first paper Egyptian pound, issued in 1899. It was redeemable for 7.4 grams of gold.
Today, 7.4 grams of gold are worth 12,000 Egyptian pounds.
Fiat money is a plague that has ruined our planet.
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Paypal will take $2,500 from your account if you publicly disagree with pharmaceutical advertisements.
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@RobinBrooksIIF
Why don't you show us how your investment portfolio has outperformed Bitcoin over the past five years, instead of hanging on to the three hour periods your high time preference makes you believe are relevant?
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Fifty years after his death, Mises gets more downloads in three days than what 95% of living economists get in their entire lifetime. Regurgitating fiat propaganda may give you fiat jobs & titles, but pursuing truth gives you immortality.
The PDF downloads for Mises’ Economic Policy: Thoughts for Today and Tomorrow are now north of fifty thousand.
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Inflation is low if you just replace your house with a pod
Inflation is low if you just replace meat with bugs
Inflation is low if you just replace your car with house arrest
Eat the bug. Stay in the pod. Save fiat parasites' Cantillion privilege
@TheFiatStandard
in a nutshell
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The Bitcoin Standard now has 7,000 reviews on Amazon US, and it's back to being the best-selling book on Money & Monetary Policy!
RT & follow to win a signed copy!
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Delighted to announce
@michael_saylor
has agreed to write a new foreword for the coming reprint of The Bitcoin Standard!
Michael's championing of the book & his conviction in acting upon it are the biggest compliment it received.
Bonus: he actually read it!
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It is difficult to argue with this after watching El Salvador eliminate its crime problem in a year, while American politicians keep finding more creative ways of terrorizing their citizens & sparing their criminals.
Almost every government in the world is 10x to 1000x stronger than all of its criminals combined.
The reason they don’t end crime is because they are colluded with it, or because they benefit from it.
You pick the reason.
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I have quit my university job & will now focus on teaching & publishing research on , directly to students & readers.
Universities are a waste of time, talent & money for professors & students.
They are only good for administrators, whose jobs are obsolete
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Normies: "I'd like a bank to just hold my money & make payments on my behalf. I'll pay for this service."
Fiat cartel: "That's illegal. Your only choice is to become an unsecured creditor to a hedge fund calling itself a bank so they can use you as an excuse for a bailout"
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Under Bukele, the homicide rate in El Salvador declined 93% from 36 to 2.4.
Under Trump, the homicide rate in the USA increased 23% from 5.24 to 6.42.
Trump is lucky his base cares more about trolling Democrats & funding Israel's genocide than their safety.
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Ethereum may be a centralized shitcoin pretending to be decentralized to commit securities fraud, but one can't but marvel at their success in implementing completely technically unjustified, programmable & indefinite ponzi scheme lock ups.
Congratulations on this, seriously
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Fun fact of the day:
If your university economics professor didn't teach you that going off the gold standard was the most significant & devastating policy mistake of the 20th century, he's not an economist, he's a fiat cartel mouthpiece benefitting from the crime of the century
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Sounds like USD devs are planning to save their failing altcoin by rugpulling bagholders and introducing a new premined token.
NEW - Powell: "Rapid changes are taking place in the global monetary system that may affect the international role of the dollar."
A US central bank digital currency is being examined to "help the US dollar's international standing."
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This is peak Keynesianism: rich parasite who spent his entire life getting paid by institutions financed by fiat inflation says you can only lower prices by destroying millions of jobs & livelihoods, not by reducing the money printing that made him rich.
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This feature will come in handy when the climate lockdowns start & your government wants to make sure you can't leave your pod.
Not your engine, not your car!
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@Rothmus
You're poor because you're being robbed to fight wars to facilitate the robbing of Palestinians' land and homes.
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Reminder that this account told you that Keynesian economics, central banks, covid, the climate crisis, renewable energy, altcoins, democracy, nutrition science, Zionism, and psychiatry are all stupid fiat scams before it was safe or cool to do so.
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Bitcoin has now been operating for ten years without confirming a single fraudulent transaction, and without deviating from its original monetary issuance schedule.
Deal with it!
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What a legend! More sportsmen need to do this.
“DRINK WATER”
Cristiano Ronaldo: not a big Coca Cola guy 😂
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The latest podcast seminar hosts
@100trillionUSD
to discuss the continued resilience of his stock-to-flow bitcoin price model after all that bitcoin has gone through in the last three years.
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You love it when the slow learner in the back of the class finally begins to get it.
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The Fed started raising rates on March 16, 2022, and just announced it will start lowering them.
During this hike bitcoin's price went from $42,000 to $64,000, a 52% rise.
My condolences to all the bitcoin haters who said bitcoin was a low interest rate phenomenon.
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Expectations: Blackrock will subvert bitcoin
Reality: Bitcoin will subvert Blackrock
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The paradox of poor fiat slaves like this is that they've been conditioned to believe money can't work without government slave masters, so when they see non-governmental money functioning, they're incapable of even understanding that it works without slavery
The paradox of cryptocurrency is that if it actually has any of the usefulness its advocates claim, then it should be issued legally only by national central banks, just like any currency. If it’s not something for central banks, then it’s just a scam
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@POTUS
Israel has been flattening all of Gaza one neighborhood at a time. This is not about fighting Hamas, this is a continuation of Israel's modus operandi from before its inception: more land, fewer Palestinians. In other words: genocide.
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@pontus_rendahl
Bitcoin saved my family from hyperinflation in Lebanon, while you waste electricity to wash clothes, run home appliances, get an econ PhD, & tweet nonsense.
How many people has your fiat PhD saved from inflation?
Have you considered that YOU are the useless waste?
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@TomCottonAR
Does your AIPAC handler tweet directly from your account or does he just message you what to tweet?
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@elonmusk
It's also patently absurd that Twitter isn't smart enough to just accept bitcoin yet is somehow capable of ensuring that the intelligence agencies of a genocidal ethnostate can handle user data safely.
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Consumer protection agencies are apparently insisting The Bitcoin Standard must come with these warning labels.
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10 years ago, someone retired & their financial advisor recommended bonds as a safe haven asset for the long term.
$10,000 invested in the Treasury shitcoin then are now $10,877.60.
These are the kind of morons who tell you bitcoin is a scam🤣
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Fractional reserve banking would not survive in a real free market. It currently only exists because the Fed is a cartel with a monopoly on banking & currency, which effectively taxes full reserve banks to subsidize fractional reserve banking scams.
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The new version of The Bitcoin Standard will be out in a few months and will have a new foreword from the great
@michael_saylor
, a man of his word, with actual skin in the game.
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Bitcoin isn't "cool" or "awesome" new tech. It's an ugly contraption optimized to be neutral apolitical money, not for your user experience. It's not the toy you want, it's the medicine you need.
Like it or not, it's your best chance for living in a free market with sound money.
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How dumb is CPI?
Imagine an economy with only 2 goods: beef & laptops. Central bank creates a ton of new money, causing prices of both goods to double. But the processing power of the laptop increases 4x through technological improvement.
CPI is ZERO.
"There is no inflation"
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Friendly reminder: this Twitter account has spent five years telling you Elon Musk is a fraud & conman whose entire stupid business is just a way to profit from government subsidies.
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Thrilled to announce I have finished my third book, Principles of Economics!
Preorder now to receive your copy this May!
Retweet to win a free hardcover copy!
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Bitcoin is inevitable. The only role for a bitcoin evangelist is to alienate authoritarians, socialists, inflationists, and shitcoiners away from it so they have fewer satoshis in the bitcoin future.
Stay toxic, my friends!
And cry harder, everyone else!
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Thought experiment:
If your government was actually an undercover marketing agency for drug companies, what would it have done differently over the past 18 months?
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Daily reminder that a fiat economist is someone who'll believe absolutely anything causes price rises except an increase in the money supply.
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The biggest problem fiat brains have with bitcoin is that they think it needs to win an intellectual argument against their stupid fiat theories to succeed.
It doesn't.
It just needs to keep going up in value & all your fiat theories are irrelevant noise powerless to stop it.
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Dear goldbugs,
If you sold an ounce of gold and bought bitcoin with it seven years ago, you could today sell the bitcoin and buy a kilogram of gold.
Gold is just slower analog bitcoin broken by governments.
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This is such a powerful meme but it's completely wrong. The Wright brothers & a century of airplane builders were engineers. Scientists first dismissed flight as impossible even after it happened, then made up a bunch of irrelevant equations to pretend to explain how it happened.
If you think you don't trust scientists, you're mistaken. You trust scientists in a million different ways every time you step on a plane, or for that matter turn on your tap or open a can of beans. The fact that you're unaware of this doesn't mean it's not so.
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@elonmusk
@BTC_Archive
You better sell all your and your company's bitcoin now or you're going to look like a pathetic hypocritical coward.
Sell all your coins you corporate-welfare whore!
Sell it all you rent-seeking leech!
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