First principles. Nothing else.
Evergreen writing on Bitcoin, Austrian economics, and the transition off fiat. No price predictions. No trading signals. No hype.
The 3 Functions of Money: Medium of Exchange, Unit of Account and Store of Value
Money has three functions: a medium of exchange (accepted in trade), a unit of account (what prices are measured in) and a store of value (it holds its purchasing power over time). Today's money does the first two well, but central banks aim for 2% inflation, so it is designed to fail the third.
Types of Money: Commodity, Representative, Fiat and Bitcoin
There are four main types of money: commodity money, valuable in itself, like gold coins; representative money, a paper claim on a commodity; fiat money, valuable because a government declares it so; and bank money, the deposits banks create when they lend. Bitcoin fits none of them neatly.
What Is Fiat Money? How It Works, and Why It Loses Value
Fiat money is money that has value because a government declares it legal tender and people accept it, not because it can be exchanged for gold or anything else. The dollar, the pound and the euro are all fiat currencies. Since August 1971 the dollar has lost 88% of its purchasing power.
Other People's Debt: Why Your Money Is Backed by Government IOUs (and Bitcoin Isn't)
Every pound, dollar and euro is someone else's liability, and the main asset behind it is government debt. The latest figures — the US alone owes $40.1 trillion — and why Bitcoin, which is nobody's liability, is different.
Why Do Governments Print Money, and Why Not Just Print More?
Governments print money because it is the one levy that needs no vote: it finances deficits, shrinks debts and rescues banks, while the cost arrives later as inflation. They cannot print without limit because each new unit dilutes all the others, and past a point people stop accepting the money at all.
What Is Deflation, and Is It Actually Bad?
Deflation is a sustained fall in the general level of prices, the opposite of inflation. It comes in two kinds: prices falling because money and credit are collapsing, as in the 1930s, and prices falling because production keeps getting cheaper. Central banks fear both, because debts do not shrink when prices do.
Why Bitcoin Is Not 'Crypto'
Bitcoin is a monetary protocol with no issuer, no company, and a fixed supply. 'Crypto' is an industry of tokens with founders, treasuries, and discretionary rules. The difference is not branding — it is structural.
Bitcoin's Energy Use: What the Numbers Actually Say
Bitcoin mining consumes roughly half a percent of global electricity — about as much as a mid-sized country. The interesting question is not the size of the number but what the energy buys.
Is Bitcoin Safe? What 17 Years of Attacks Prove
Bitcoin's cryptography has never been broken, and its only two protocol failures were early bugs, corrected within a day. The losses you have read about happened at exchanges and in scams — at the edges, not the protocol. The distinction decides how you protect yourself.
How to Buy Bitcoin: A First-Timer's Guide That Ends in Self-Custody
Buying bitcoin takes four steps: pick a reputable exchange, verify your identity, buy on a schedule, and withdraw to a wallet you control. The last step is the one most people skip.
Why Is Bitcoin So Volatile? (And Why It Matters Less Than You Think)
Bitcoin is volatile because it is young, small, and monetising in real time. Here is why that volatility exists, why it has been falling, and why it is not the same as risk.
How to Dollar-Cost Average Into Bitcoin
Dollar-cost averaging is the simplest, most disciplined way to accumulate bitcoin without trying to time the market. Here is exactly how it works and how to set it up.