Teaching Bitcoin and Monetary History
We held our first Investors Club meeting at The Foundry today. There was a unique mixture of realtors, students, traders, and new individuals to the crypto space.
The goal of this Investors Club is to allow us as a group to learn exponentially. On our own, we are limited by the number of hours in a day that we can invest in our education - together we may learn at a much faster rate.
The outline for this session included:
-140 years of monetary history
-The Law of Diffusion of Innovation
-The current Bitcoin trend
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Video Source: [Foundry Talk](
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Okay, lydon - Now, I'm not an economist but I have some questions. Firstly, I see the process of understanding History in terms of selection of facts and interpretation of the same - so what gets left out is as important as what gets put in. What was left out? Certainly not Americans printing more paper than gold or Nixon nixing the gold standard - all of which is true, however Keynes started the ball rolling back in the Thirties and in the 70's there was the OPEC Oil Crisis which contributed to galloping inflation - I know because I lved through it and 20% mortgages. There are more factors at play than a central government conspiring to control the money supply but this approach makes a weak straw man to knock down in favour of a decentralized economy. I don't think Warren Buffet would agree with you, but hey, what do I know...just sayin' how it looks to me :)
Greetings, John, and Hello, Lydon,
While Keynes appeared on the scene long before the OPEC debacle, both were offspring of The Creature From Jekyll Island. Keynesian economics only works in a world where a central power exists that can arbitrarily control the supply of money.
In my not so humble opinion, the Austrian school of economics is as superior to Keynes as light is to darkness. The reason for galloping inflation is and has always (since 1913) been the intentional printing of money by the Fed, an act that robs every quietly sleeping holder of U.S. dollars while they sleep.
And John, I too have lived through the period of time you have mentioned.
Here are a couple of amusing vids that I can't help but share, in which Keynes and Hayek go head to head...
These fun videos mention the broken window fallacy, implying that Keynes favored it. Apparently, that's somewhat questionable; nevertheless, you may find the following fictional treatment interesting.
Fellow Steemian author @geke has addressed the broken window fallacy quite adeptly in this story:
Summarizing, and again IMNSHO, Lydon has certainly presented the truly relevant history. Leaving out what are arguably side effects of the despicable changes that occurred in 1913 and in 1971 -- the inflationary consequences -- is, I believe, entirely reasonable in light of what I think the goal of his lesson may be. Namely, encouraging students to move back in the direction of a sound economic system.
I will concede that Lydon might have employed the destructive and absurd teachings of Keynes, and the OPEC crises, as cautionary tales to steer his listeners clear of the foolishness of central government currency... ;)
ha ha, cool videos and intriguing conspiracy theories, but I simply disagree (in the nicest of ways, of course, being Canadian). If you want to see a validation of your thesis, however, try the Weimar republic that paved the way for the rise of Fascism, but frankly I haven't a rebellious bone in my body and don't see the world through your lens. Sorry, but I don't, creatr :)
No need to apologize whatsoever, my friend John. :D
"Conspiracy theories" indeed! Nay, historical realities. Borne out by their poison fruit.
Ah, how I wish I could (sooner than I think I shall) confront your nice Canadian disagreement face to face!
Over a lovely snifter of apricot liqueur, of course, in a warm room before a crackling fire, with the most collegial of mutual respect (it should go without saying).
I love you forsooth, my contrary friend. :D
Thank you for disagreeing so nicely. ;)
😄😇😄
Hi again, John,
I stumbled on this (very current) article today that makes a compelling, contemporary case for the damage the Federal Reserve system does to the US economy:
No conspiracy theories necessary. Only plain, self-evident observations of rather obvious causes and effects.
I offer this as simply another plank in the case that I continue to make and the thesis I repeatedly put forward—human government is always the problem, never the solution. ;)
Man is not fit to rule his fellow man. There is only one Man fit for that task...
I will take a look, creatr :)
Wow i am free right now so definitely need to watch these with free mind thanks for sharing now off to watching these :D
Hope you enjoy! :)
Excellent videos bro you explained each thing very nicely
Glad you found it valuable. :)
Hey, I didn't know you could teach. Nice job. Thanks for the lesson. PS - double videos :)
I dabble, lol. :)
Good lecture. In the future, if you have the phone sideways, it will give a fuller picture without the black side bands
Thank you. And thank you for that tip! Not looking to buy equipment just yet so using the iPhone to its fullest capability is a must.
I'll be back to comment on this later tonight, lydon, after I've watched it all - looks good so far :)
Thank you, John. :)
Congrats! Sharing our knowledge especially about Bitcoin is powerful.
I love learning
those are very useful videos great one !
Will get through them buddy !