Memes, Markets & Money, Part 2 (with Keith D)
Ideas to take with you.
- 01
Bitcoin's supply is fixed, so the direction of travel is distribution over time — even highly concentrated holdings must eventually be spent, lost, or earned by others to move.
- 02
Debt-based money has to expand forever to stay solvent, and that expansion is fundamentally incompatible with a monetary base secured by thermodynamic limits.
- 03
The state's monopoly on violence loses purchase against a network of node runners scattered across jurisdictions who cannot all be identified or coerced at once.
- 04
Fiat casinoifies everything it touches, including crypto, because the incentive to chase paper claims outpaces the incentive to create value.
- 05
What is commonly defended as capitalism is often rent-seeking inside a captured system; the underlying aspiration is a permissionless free market on a credibly level playing field.
