First principles. Nothing else.
Evergreen writing on Bitcoin, Austrian economics, and the transition off fiat. No price predictions. No trading signals. No hype.
How Is Money Created? Most New Money Is Made by Banks
Most new money is created by commercial banks when they lend: the loan creates a matching deposit, and repaying it destroys the money again. Central banks create the reserves banks settle with and set their price. As the Bank of England explained in 2014, banks do not simply lend out their depositors' savings.
What Happens When All 21 Million Bitcoin Are Mined?
The last bitcoin will be mined around 2140. What happens to miners, to network security, and to the protocol when the block subsidy reaches zero?
The Root Problem with Conventional Currency: What Satoshi Saw in 2008
In February 2009, Satoshi wrote a single paragraph that contains more monetary insight per word than most central banking textbooks. This is what he meant.
Bitcoin vs Real Estate: Which Is the Better Store of Value?
Real estate has been the default store of value for a generation. Here is why that happened, what it costs, and why bitcoin is structurally better suited to the role.
How to Calculate Your Real Purchasing Power Loss Since 1971
Official inflation tracks a basket of consumer prices. Measured against gold, houses or bitcoin, holding fiat since 1971 cost far more. Here is how to calculate it.
What Did Satoshi Mean by 'Peer-to-Peer Electronic Cash'?
The phrase 'peer-to-peer electronic cash' is in the title of the whitepaper. Most people read it without thinking about what each word means. This article does.
What Is a Satoshi? Bitcoin's Smallest Unit Explained
A satoshi is the smallest unit of Bitcoin — one hundred-millionth of a bitcoin. Here is why that matters, and why it changes how you should think about ownership.
Currency Debasement: From Clipped Coins to Printed Money
Debasement is the lowering of a currency's value by the people who issue it. Rulers did it by clipping coins and mixing cheaper metal into the silver; central banks do it by creating new money faster than the economy grows. Every monetary authority in history has done it. Bitcoin is built so that nobody can.
What Is Time Preference? Why Sound Money Rewards Patience
Time preference is how much a person values having something now rather than later. Someone with a high time preference wants it now; someone with a low time preference will wait for more. Austrian economists argue that money which holds its value lowers time preference, and money that loses value raises it.
How to Set Up a Lightning Wallet in 10 Minutes
A practical, no-jargon guide to installing a Lightning wallet, funding it, and making your first instant Bitcoin payment.
How to Earn Your First Bitcoin Without Buying It
The cleanest way to start on a Bitcoin standard is not to buy bitcoin but to earn it. Here are the practical paths for doing so.
Why Bitcoin Has No CEO — And Why That Matters
Bitcoin is the first digital money with no leader, no board, and no central authority. This is not a weakness. It is the entire point.