Chemaclass - economics

Laissez Faire, Laissez Passer

2026-07-05T00:00:00+00:00

Paris, around 1680. As the story goes, the finance minister of Louis XIV, Jean-Baptiste Colbert, gathers a group of merchants. He asks a simple question: what can the state do to help your business?

One of them, a merchant named Legendre, gives a famous answer. “Laissez-nous faire.” Leave us alone.

About seventy years later, the economist Vincent de Gournay turns that reply into a phrase: laissez faire, laissez passer. Let people act. Let goods pass.

The state offered to help. The market asked only to be left alone.

The knowledge nobody has #

Think about the bread you ate this morning. Nobody planned it for you. A farmer grew the wheat, a driver moved it, a miller ground it, a baker baked it. Most of them never met. None of them thought about your breakfast. Yet the bread was there.

Friedrich Hayek called this the knowledge problem. The information needed to run an economy sits in no single place. It’s spread across millions of heads, and most of it can’t be written down. No central office can collect it in time.

The price does that job instead. When wheat gets scarce, its price rises, and thousands of strangers adjust without being told to. No memo required.

Hayek’s essay in four lines:

The knowledge that runs an economy (who needs what, where, right now) lives scattered in millions of heads.
Most of it is local and short-lived. No office can collect it before it goes stale.
A price compresses all of it into one number anyone can act on.
So the question is not who should plan. It’s how to use knowledge no planner can hold. Prices already do.

Leonard Read made the point with a pencil. In I, Pencil, not one person on earth knows how to make a pencil from scratch: the wood, the graphite, the paint, the eraser. Yet pencils cost almost nothing and are everywhere. Nobody is in charge. That is the point.

Leonard Read tells the story from the pencil’s point of view. Cedar from Oregon and California, graphite from Sri Lanka, wax, glue, a brass ring. Loggers, miners, sailors, chemists: millions of people cooperated to make it, and not one of them knows the whole recipe.

Nobody ordered them to. Prices coordinated every step. Read’s point: if no mastermind can make a pencil, be suspicious of plans that need a mastermind for a whole economy.

Order doesn’t need a designer. It needs freedom and a price.

The seen and the unseen #

Every action has effects you can see and effects you can’t. Frédéric Bastiat built a whole way of thinking around that one idea.

A boy breaks a shop window. A bystander shrugs: well, at least the glazier, the man who fits the new glass, gets some work. True. That’s the part you see.

But the money the shopkeeper spent on glass might have bought new shoes. The shoemaker got no order. That’s the part you don’t see. The window is not new wealth. It’s wealth moved, and partly destroyed.

Bastiat’s rule: every act has one effect you see now and a chain of effects you don’t. The broken window opens the essay, then he runs the same test on taxes, subsidies, public works, and tariffs. The trick is always the same: count what the policy creates, ignore what it prevents. The bad economist stops at the first effect. The good one counts the whole chain.

Many interventions carry this trap. The benefit is loud and close. The cost is quiet and spread thin. Planners optimize what they can see and pay with what they can’t.

Good intentions are not the same as good arithmetic.

Freedom is not chaos #

Here is where both the fans and the critics of laissez faire get it wrong.

Laissez faire was never “no rules.” A free market rests on something underneath: property you actually own, and contracts that are actually enforced. Take those away and you don’t get freedom. You get the strongest person taking whatever they want.

The rule of law is the frame. Inside it, people are free to act. Without it, “free market” just means whoever brings the most force wins. A fight, not a market.

Hayek wrote a book, The Road to Serfdom, on where that other road leads. Freedom needs a structure. The structure isn’t the enemy of freedom. It’s what makes it possible.

A market without the rule of law is a game with no referee.

The one price they never freed #

Governments let go of most prices. They almost never let go of one: money.

Money is a price too. The price of everything else. When a government prints too much of it, your savings quietly buy less, and you never voted for that. A tax that doesn’t look like a tax.

This is why I got interested in money nobody can print. If free prices coordinate strangers better than any planner, why should the most important price, the price of money itself, be the exception?

They freed the price of bread. They kept the price of money.

The default is freedom #

Notice the burden of proof most of us carry. We assume freedom needs a reason, and control is the safe default. “Prove this should be allowed.”

Turn it around. Freedom is the baseline. Every rule, every ban, every intervention is what has to earn its place. Not because the market is perfect. It isn’t. Markets fail, people get hurt, and some problems need a shared answer. But whoever wants to override millions of free choices should be the one who explains why. Every time.

Colbert asked what the state could do to help. Three centuries later, the best answer is still the merchant’s.

Let people act. Let goods pass. The rest is the exception, not the rule.

Broken Money

2026-01-17T00:00:00+00:00

A deep dive into monetary history through a technological lens. Lyn Alden traces how innovations shaped money across centuries, examining commodity-based systems, modern fiat currencies, and emerging alternatives like Bitcoin.

What Makes Money Work? #

Alden starts with the fundamentals: what actually makes something money? She breaks it down into key properties (durability, divisibility, portability, scarcity) and shows how different forms of money throughout history have excelled or failed at these.

The key insight? Money is a technology, and like all technologies, it evolves. What worked for ancient civilizations doesn’t necessarily work in a globally connected digital world.

The Fiat Experiment #

One of the most eye-opening sections covers how we ended up with our current fiat system. Alden documents the shift from gold-backed currencies to pure government-issued money, explaining why this experiment (only about 50 years old) has led to persistent inflation and monetary instability.

“Many currencies are rapidly diluted, which continually devalues the savings and wages of the billions of people who live and work within those jurisdictions.”

She backs this up with real-world examples from Nigeria, Egypt, Brazil, and other nations experiencing currency crises. For people in developed economies, these stories serve as a warning of what unchecked monetary expansion can lead to.

The Network Effects of Money #

Alden brings a unique perspective as an engineer turned financial analyst. She applies network theory to explain why certain forms of money win out over others. Money, like the internet, benefits from network effects: the more people use it, the more useful it becomes.

This framework helps explain both why the dollar dominates global trade and why Bitcoin has grown so quickly despite starting from zero.

Bitcoin as a Solution #

The book builds logically toward Bitcoin as a potential fix for broken monetary systems. But unlike many Bitcoin books, Alden doesn’t just cheerlead. She evaluates Bitcoin against gold and other cryptocurrencies, acknowledging trade-offs and limitations.

Her analysis is grounded in engineering principles: What are Bitcoin’s actual properties? How does it compare to historical forms of sound money? What problems does it solve, and what problems remain?

Final Thoughts #

“Broken Money” stands out because it doesn’t assume you already agree with the premise. Alden methodically builds the case that something is wrong with how money works today, traces the historical roots of these problems, and then evaluates potential solutions.

Whether you end up convinced by her conclusions or not, you’ll come away with a much deeper understanding of monetary systems and why they matter.

You use money every day. Learn how it actually works.

Bitcoin Fundamentals

2025-11-21T00:00:00+00:00

What would you do if your bank account was frozen tomorrow? No warning, no explanation, no access to your own money.

This isn’t hypothetical. In 2022, Canada froze bank accounts of people who donated to a protest. In 2015, Greeks could only withdraw €60 per day from ATMs. In Argentina, Turkey, and Lebanon, people watched their savings lose half their value in months.

Bitcoin exists because these things happen. Understanding it requires going back to basics: what is money, why does it matter, and how does Bitcoin fit into that picture.

No technical background required. Just curiosity.

A Brief History of Money #

Money is a social agreement. A piece of paper, a gold coin, or a number on a screen has value because we all agree it does. This agreement is what makes trade possible.

Throughout history, money has evolved:

Direct trade: Exchanging goods for goods. “I’ll give you my fish for your bread.”
Things used as money: Shells, salt, cattle. Valuable because they were useful or hard to find.
Precious metals: Gold and silver. Hard to find, long-lasting, easy to divide and carry.
Paper money backed by gold: Receipts representing gold stored in vaults.
Government money: Paper backed by nothing but a government’s promise. Why does it work? Because governments require you to pay taxes in their currency. This forces everyone to use it.

Money is a way to store and transfer value. The better it performs these functions, the better it serves as money.

What makes good money? These properties:

Hard to create: Cannot be easily made or faked
Long-lasting: Doesn’t break down over time
Divisible: Can be broken into smaller pieces
Easy to move: Simple to carry and send
Easy to verify: Simple to check if it’s real

Gold does well on most of these. Paper money is easy to move and divide but fails on being hard to create. Governments can print as much as they want. Bitcoin, as we’ll see, does well on all of them.

What is Bitcoin? #

Bitcoin is digital money that works without banks, governments, or any central authority. It was created in 2009 by someone (or some group) using the pseudonym Satoshi Nakamoto. No one knows who this person really is.

The first Bitcoin block (the Genesis Block) contains a hidden message: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” This headline from The Times newspaper referenced the 2008 financial crisis. It wasn’t random. It was a timestamp and a statement of purpose. Bitcoin was created as a response to bank bailouts and monetary manipulation.

Bitcoin builds on decades of work by cryptographers and privacy activists. If you’re curious about the people and ideas that led to Bitcoin, I wrote about The Cypherpunks and their vision for digital privacy.

At its core, Bitcoin is:

A protocol: A set of rules that computers follow to agree on who owns what
A network: Thousands of computers worldwide running the Bitcoin software
A currency: Units of account called bitcoins (BTC), divisible to 8 decimal places

There’s no company behind Bitcoin. No CEO, no headquarters, no customer support. It’s open-source software that anyone can run, inspect, or contribute to.

Sound Money #

Scarcity #

There will only ever be 21 million bitcoins. This is enforced by the protocol’s code, verified by every node on the network. No government, no committee, no emergency meeting can change this.

Compare this to government money. Central banks can (and do) create money whenever they want. The U.S. dollar has lost over 95% of its buying power since 1913. The Euro, the Pound, the Yen: all follow the same pattern of slowly losing value.

In a world of infinite money printing, a mathematically enforced hard cap is revolutionary.

Bitcoin is often called “digital gold” because it shares gold’s scarcity while being easier to store, divide, and transfer. You can send a billion dollars worth of Bitcoin anywhere in the world in minutes, for a few dollars in fees. Try doing that with gold bars.

Inflation Protection #

When governments print money, the value of existing money decreases. This is inflation. Your savings buy less over time, even while sitting untouched in your bank account.

Inflation is often called a “hidden tax” because it transfers wealth from savers to those who receive the new money first (usually governments and banks). I wrote more about this in Understanding Taxes.

Bitcoin’s supply schedule is fixed and predictable. New bitcoins are created through mining at a rate that halves roughly every four years. By around 2140, all 21 million will have been created. No surprises, no government decisions to print more.

Freedom & Sovereignty #

Self-custody #

With Bitcoin, you can hold your own money. Not a promise from a bank, not a balance on someone else’s books. Actual ownership, secured by cryptographic keys that only you control.

“Not your keys, not your coins.”

This phrase captures a fundamental truth. When you deposit money in a bank, you don’t own that money anymore. You own a claim against the bank. If the bank freezes your account, goes bankrupt, or decides you violated their terms of service, your access disappears.

With Bitcoin, there’s no freeze button. No account to close. No terms of service to violate. You become your own bank.

Permissionless & Borderless #

Bitcoin doesn’t care about borders, banking hours, or your credit score. You can send money to anyone with an internet connection, anywhere in the world, at any time.

Traditional banking:

Hours: Monday-Friday, 9-5 (maybe)
International transfers: 3-5 business days
Fees: Percentage of transfer + fixed fees
Requirements: ID, proof of address, account in good standing

Bitcoin:

Hours: 24/7/365
Global transfers: ~10 minutes to an hour
Fees: Based on data size, not amount sent
Requirements: A Bitcoin address (free, instant, no ID)

Censorship Resistance #

No central authority controls Bitcoin. No single entity can stop a transaction or reverse a payment. Once confirmed, it’s final.

This matters for people living under oppressive governments, facing political pressure, or simply wanting financial privacy. It matters for donations to controversial causes, for journalists protecting sources, for anyone who values financial freedom.

Financial freedom isn’t just about being rich. It’s about having control over your own money, regardless of who you are or where you live.

Real Stories #

These aren’t edge cases:

In December 2010, WikiLeaks published classified U.S. diplomatic cables. Within days, Visa, Mastercard, PayPal, and Bank of America cut off all payment processing.

WikiLeaks lost 95% of its revenue overnight. In 2011, they started accepting Bitcoin. It was one of the first major use cases for the cryptocurrency. The financial blockade meant to silence them instead proved Bitcoin's value as censorship-resistant money.

Read full article →

In March 2013, Cyprus banks took 47.5% of all deposits over €100,000 to bail themselves out. No consent, no warning. Money in the bank was simply confiscated to save the banking system.

Bitcoin's price doubled in the weeks following. The Cyprus bail-in was a wake-up call: your bank balance is an IOU, and when banks fail, you're the one who pays.

Read full article →

In June 2015, Greece closed its banks for three weeks. ATM withdrawals were capped at €60 per day. Citizens couldn't access their own money. The debt crisis showed Europeans that bank deposits aren't as safe as they assumed.

Bitcoin interest spiked in Greece during the crisis. It was an early warning: even in "stable" countries, your access to money can be switched off overnight.

Read full article →

Between 2016 and 2019, inflation reached 53,000,000%. Salaries became worthless within days. People couldn't buy food, medicine, or basic goods. Those who converted savings to Bitcoin before the collapse preserved their wealth.

Those who trusted the banking system lost everything. Bitcoin became a lifeline. Not for speculation, but for survival.

Read full article →

In 2019, Lebanese banks began freezing deposits. By 2020, people couldn't access their own savings. The lira lost 90% of its value. ATM withdrawals were capped at tiny amounts. It wasn't a temporary measure. Banks simply didn't have the money.

Those who had converted to Bitcoin before the collapse could still access their wealth. Those who trusted the banks discovered that "your money" wasn't really yours.

Read full article →

During the 2019-2020 pro-democracy protests, Hong Kong activists faced financial surveillance. Banks could freeze accounts of known protesters. Donations through traditional channels could be traced.

Bitcoin offered a way to fund the movement without leaving a trail for authorities. Protesters used crypto to receive international support while protecting their identities. Financial privacy became a tool of resistance.

Read full article →

After the disputed 2020 election, Belarus erupted in protests. The Lukashenko regime responded with violence and financial repression. Bank accounts of activists, journalists, and NGOs were frozen.

The KGB monitored all transfers. A solidarity fund called BYSOL raised over $2 million in Bitcoin and distributed it directly to protesters who lost jobs or faced persecution. The only payment method authorities couldn't control.

Read full article →

The Central Bank banned crypto exchanges in February 2021 and ordered banks to close accounts of anyone dealing in cryptocurrency. The goal was to stop Bitcoin adoption. It backfired.

Peer-to-peer trading surged 27% in the months following the ban. Nigerians simply moved to decentralized platforms. The naira continued losing value while Bitcoin kept working. You can't ban math.

Read full article →

The Turkish lira has lost over 80% of its value against the dollar since 2018. Every currency crisis triggers a spike in Bitcoin trading. In 2021, Turkey banned crypto payments, but trading volumes only increased.

The government can't stop people from protecting their savings. When the lira crashes, Bitcoin search trends surge. Turks aren't speculating. They're surviving.

Read full article →

In September 2021, El Salvador became the first country to make Bitcoin legal tender. President Bukele's government installed Bitcoin ATMs nationwide, and even started mining BTC using geothermal energy from volcanoes. Critics predicted disaster.

Instead, tourism increased, remittance costs dropped, and the country gained global attention. A small nation became a Bitcoin laboratory.

Read full article →

When the Taliban took control in August 2021, banks froze. International transfers stopped. Women, banned from working, lost access to income. But some Afghan women had learned about Bitcoin before the collapse.

They could receive payments from abroad, store value the regime couldn't seize, and maintain financial independence. In a country where women can't open bank accounts, Bitcoin became a tool of quiet resistance.

Read full article →

When Russia invaded, traditional aid was too slow. Banks were overwhelmed, wire transfers took days. But within hours of posting Bitcoin addresses on Twitter, donations poured in from around the world. By March 2022, Ukraine received over $100 million in crypto.

Funds went directly to bulletproof vests, medical supplies, and communication equipment. No bureaucracy, no intermediaries, no delays.

Read full article →

In February 2022, the government invoked the Emergencies Act to freeze bank accounts of people who donated to trucker protests. No court order needed. Over 200 accounts were frozen overnight. But Bitcoin donations kept flowing.

Organizers distributed 14+ BTC directly to protesters. The government couldn't touch those funds. In 2024, a court ruled the freezes unconstitutional. The lesson: custodial money can be weaponized.

Read full article →

After Russia invaded Ukraine in 2022, Western sanctions cut Russian banks from SWIFT. Suddenly, Russians abroad couldn't access their money. Many turned to crypto, not to evade sanctions, but to survive.

Meanwhile, Ukrainians used Bitcoin to receive donations and preserve savings. The same technology served people on both sides of a conflict, based on their individual needs. Bitcoin doesn't pick sides.

Read full article →

Argentina suffered 211% inflation in 2023 under decades of big-government policies. Then Javier Milei took office. He halved ministries, cut 40,000 government jobs, and ended monetary financing. Result: inflation dropped to 117% in 2024, then 31% by end of 2025, the lowest in seven years. GDP grew 7.6% in Q2 2025, the strongest in two decades.

Poverty fell from 57% to 32%. Smaller government, sound money principles. Bitcoin adoption remains high, Argentines learned not to trust any currency they can't verify themselves.

Read full article →

Migrant workers send $700 billion home every year. Traditional services like Western Union take 6-10% in fees. For a worker sending $200, that's $20 gone. Money their family desperately needs.

Bitcoin and Lightning Network transfer value across borders for cents, settling in minutes instead of days. Companies like Bitso processed $8 billion in crypto remittances in 2023. Cheaper transfers mean more food on the table.

Read full article →

In January 2024, the SEC approved Bitcoin ETFs for the first time. Within months, institutional investment surged 400%. By end of 2024, professional investors held $27.4 billion in Bitcoin ETFs, over 26% of total AUM. BlackRock's IBIT alone reached $50 billion.

Bitcoin was no longer just for early adopters. Wall Street called it "year zero of institutional adoption." The asset that banks once dismissed now sits in pension funds.

Read full article →

When cash imports into Gaza were blocked in 2024, banking infrastructure collapsed. Traditional transfers charged 30%+ fees, if they worked at all. Bitcoin became a lifeline. One volunteer sent $123,000 in BTC that bought food, water, and built shelters for displaced families.

A taxi driver named Yusef received $48k in Bitcoin donations and built 100 tents. When banks fail, Bitcoin still works. No permission needed.

Read full article →

On March 6, 2025, President Trump signed an executive order establishing a Strategic Bitcoin Reserve, a "digital Fort Knox." The reserve holds ~200,000 BTC from seized assets, with a policy never to sell.

The U.S. had lost $17 billion selling seized bitcoin too early. Now it's holding. Pakistan announced its own reserve weeks later. Nations that once dismissed Bitcoin now compete to accumulate it.

Read full article →

María Corina Machado won the 2025 Nobel Peace Prize for fighting Venezuela's dictatorship. Her campaign runs on Bitcoin because "bank wires get blocked, but bitcoin donations cannot be seized." With the bolívar down 98% in a decade and 8,000%+ inflation, Bitcoin became "a vital means of resistance."

She promised a democratic Venezuela would embrace Bitcoin in its national reserves. Freedom money for a freedom fighter.

Read full article →

Common Objections #

“It’s used for crime.” So is cash. The difference: Bitcoin leaves a permanent, traceable record. The blockchain is a forensic tool. Most criminals prefer dollars.
“It’s too volatile.” True in the short term. Zoom out: Bitcoin has been the best-performing asset of the last decade. Volatility decreases as adoption grows. Don’t invest money you need next month.
“It wastes energy.” Bitcoin mining uses electricity to secure a trillion-dollar network. Much of it comes from stranded energy (gas flares, excess hydro) that would otherwise be wasted. The real question: is financial sovereignty worth the energy cost? Air conditioning uses more.
“It’s too late to buy.” People said this at $100, $1,000, $10,000, and $100,000. If Bitcoin achieves even a fraction of gold’s market cap, there’s still room to grow.

Honest Caveats #

Bitcoin isn’t perfect. Things to be aware of:

Self-custody requires responsibility. Lose your seed phrase, lose your funds. No customer support.
Irreversibility. No chargebacks. Send to the wrong address? Gone.
Learning curve. Wallets, keys, fees, P2P trading. The more you learn, the more sovereignty you gain. KYC exchanges are easier but come with regulatory strings attached.
Privacy takes effort. The blockchain is transparent, not anonymous. True privacy requires learning how to use Bitcoin properly.
Scaling tradeoffs. Base layer is slow by design. Lightning adds speed but also complexity.

None of these are dealbreakers. They’re tradeoffs. The more you learn, the fewer limitations you face.

Bitcoin Today #

This isn’t just theory anymore.

Institutional adoption #

US Bitcoin ETFs approved in 2024, bringing billions in institutional money (source)
Strategy holds 660.000+ BTC as corporate treasury, inspiring others (source)
Major banks now offer Bitcoin custody and trading services to clients
Pension funds and asset managers are adding Bitcoin to portfolios

Global adoption #

Central African Republic adopted Bitcoin as legal tender in 2022 (source)
Switzerland allows tax payments in Bitcoin in Canton Zug since 2021 (source)
Emerging markets lead in grassroots adoption: Vietnam, Philippines, Nigeria

Real-world usage #

Square accepts Bitcoin payments since Nov. 2025 for 4M+ merchants (source)
Lightning Network (LN) processes millions of instant payments monthly (source)
Merchants worldwide accept Bitcoin, from small shops to major retailers (source)

You can dismiss it, or you can understand it.

Getting Started #

Bitcoin is money that no one controls and everyone can verify. It’s scarce in a world of infinite money printing. It’s permissionless in a world of financial gatekeepers. It’s programmable in ways we’re only beginning to explore.

Understanding Bitcoin doesn’t require believing it will change the world. It requires understanding what money is, how it evolved, and why these properties matter. From there, you can form your own conclusions.

Want to try? #

The best way to understand Bitcoin is to use it:

Start small: Buy a small amount on a trusted Bitcoin-only platform like:
- 21bitcoin or Relai: Simple apps for automatic Bitcoin savings
- HodlHodl: Peer-to-peer trading, non-custodial
Move it to your own wallet: Download a mobile wallet and transfer your Bitcoin there. Feel what self-custody means. Some wallets like BlueWallet, Nunchuk.
Send a transaction: Send some sats to a friend. Watch it confirm in ~10 minutes. Get curious looking at your transaction in the mempool.
Try Lightning: Send an instant, near-free payment. This is the future of everyday transactions. Some LN wallets like Alby Go, Muun.

You don’t have to go all in. Start small and keep learning, one step at a time.

Further reading

Bitcoin 101 by Cosme - Another beginner-friendly introduction
How to Buy Bitcoin Securely by Cosme - Step-by-step guide

Principles of Economics

2025-06-22T00:00:00+00:00

If you’ve ever scratched your head at the economy, wondered why prices keep rising, or questioned why money seems to lose value over time, Principles of Economics by Saifedean Ammous might blow your mind.

It’s not your typical dry economics book. Instead, it’s a bold, no-nonsense guide to understanding how the world really works, through the lens of Austrian economics. Here’s what stood out to me.

1. Economics = Human Action #

Ammous starts with something super simple but powerful: economics is just people making choices. Every time we choose to do one thing over another, that’s economics in action.

Forget all the charts and equations you might’ve seen in school. Real economics begins with you trying to make life better, one decision at a time.

2. Time Preference = How Much You Value the Future #

This idea was a game-changer: your time preference is how much you value stuff now vs. later.

If you spend everything today, you’ve got a high time preference.
If you save and plan for tomorrow, you’ve got a low time preference.

Low time preference leads to building cool things. Like businesses, families, skyscrapers, or even civilizations. High time preference? That’s fast food, impulse buying, and short-term thinking.

3. Good Money = Strong Society #

The quality of a society’s money affects everything. If your money constantly loses value (hello, inflation), people stop saving and start living for today.

He argues that government-controlled “fiat” money is the problem, and we need a return to “hard money” (like gold or Bitcoin) that holds its value over time. Good money helps people plan, save, and grow wealth across generations.

4. Producing Stuff Takes Time, and That Matters #

Making things isn’t instant. It takes time, tools, and planning. Ammous explains how advanced economies only exist because people invest in long-term production: factories, machines, supply chains.

That’s only possible when people trust their money and their future. So again, low time preference is key.

5. Entrepreneurs, Not Governments, Drive Progress #

If there’s a hero in this book, it’s the entrepreneur: the person who takes risks, builds businesses, and creates value.

Ammous has zero love for central planners, regulations, or government bailouts. He’s all about free markets and letting smart people solve problems without interference. When prices are honest and money is sound, people figure things out on their own.

6. Inflation and Central Planning? Big Red Flags #

Ammous doesn’t pull punches. He’s very critical of how governments manage money and the economy.

He sees inflation as a sneaky form of theft and believes that constant meddling (like printing money or setting interest rates) only makes things worse. He even calls out entire fields like climate economics and ESG as being more about politics than real economics.

7. Bitcoin: The Grand Finale #

While this book isn’t just about Bitcoin, it clearly leads there. After explaining why our current money system is broken, Ammous points to Bitcoin as the best solution we’ve seen in over a century.

It’s digital, limited, and no one can mess with it. Bitcoin is the return of sound money, and a chance to fix a lot of what’s wrong today.

Final Thoughts: A Crash Course in Real Economics #

“Principles of Economics” is like an economics red pill. It’s straightforward, bold, and sometimes brutal. But if you’re tired of the usual financial nonsense, this book will hit you like a breath of fresh air.

You’ll walk away with a new lens to see the world: why prices rise, why saving matters, and why the kind of money we use shapes everything.

Austrian Economics vs Keynesian Economics #

The Road to Serfdom

2025-03-31T00:00:00+00:00

First published in 1944, The Road to Serfdom is still making waves today. Friedrich Hayek, an Austrian economist, wrote it during World War II to warn against something he saw as really dangerous: central economic planning.

His message? Even well-meaning government control over the economy can quietly take away our freedom, and possibly lead us toward dictatorship.

1. The danger of central planning #

Hayek’s main point is simple: when the government tries to control the economy, it ends up controlling people’s lives too. Once the state decides who gets what, it also ends up deciding who can do what.

Even if it starts out with good intentions, it eventually leads to force, because people have different goals, and planners can’t make everyone happy.

“Controlling the economy means controlling everything people want to do. (Chapter 7)”

2. The illusion of “good” socialism #

Some folks believe in democratic socialism, mixing freedom with shared planning. Hayek wasn’t buying it.

He says you can’t really separate socialism from authoritarianism, because planning on behalf of “the group” means ignoring individual choices. Over time, the people running the system need to silence anyone who disagrees. That opens the door to the worst kinds of leaders.

“The worst get on top. (Chapter 10)”

3. Rule of law vs. Rule by discretion #

In a free society, rules should apply to everyone, be known ahead of time, and stay consistent, like traffic laws.

But planning needs flexible rules. Bureaucrats need to make calls on the fly, and that gives them a ton of power. Hayek thinks that’s a problem. The more discretion officials have, the less protection individuals have.

“Nothing distinguishes more clearly conditions in a free country from those in a country under arbitrary government than the observance in the former of the great principles known as the Rule of Law. (Chapter 6)”

4. Markets work because no one’s actually in charge #

Hayek believed that no planner, no matter how smart, can replace what the market does on its own.

Why? Because markets use price signals to share info. Millions of people making choices send signals (through prices) about what’s needed and what’s not. Trying to manage all that from the top? Super inefficient, and it usually fails.

“The more the state ‘plans’ the more difficult planning becomes for the individual. (Chapter 5)”

5. Incremental loss of freedom #

Hayek wasn’t warning about overnight dictatorships. He was more concerned about the slow loss of freedom that comes from small steps: price controls here, nationalized industries there.

Each step might feel harmless, but it adds up. And once people depend too much on the state, it’s hard to say no to the next “solution” from above.

“The danger of tyranny inevitably arises from the methods of collectivism. (Chapter 10)”

Final thoughts: Is Hayek still relevant? #

Totally. While the world has changed, the tension between freedom and control is still very real. Hayek’s ideas remind us that freedom doesn’t usually vanish overnight: it fades when we’re not paying attention.

Sure, some government help is needed. But Hayek’s warning? Too much control, even with good intentions, can lead us somewhere we don’t want to go.

Criptoria

2025-02-09T00:00:00+00:00

Cryptoria is a story about the evolutionary process that gave birth to computers, networks, cybersecurity and digital money.

From Greece to Bitcoin, Cryptoria narrates a selection of milestones that occurred before and after Alan Turing. The book showcases a broad collection of people, organizations, concepts and inventions that evidence the deep historical and cultural relationship between mathematics, cryptography, computer science and the struggle for individual sovereignty.

Cryptoria is addressed to all people convinced that, beyond inherited or imposed ways, there are other forms of social and economic organization that can and should be explored.

Content #

Part I: Before Turing #

1. The Beginning of the End #

The Boys Who Loved Puzzles
- Alan Turing
- Irving John Good
The Men Who Loved Their Genes
- Galton’s Chimera
- The Lugenesis Mutation
The Power of Science Fiction
- Hugo Gernsback
- Amaizing Stories
The Descent of Saint Jude

2. In Search of Truth #

As We Know It
Organon
The Mosaic Effect of Science

3. Numbers Shall Set You Free #

Sovereign Mathematics
- Formal Language
- Set Theory
- Modular Arithmetic
- Congruence
- Gauss
- Gauss, Fermat and Euler
- Boolean Algebra
- Truth Tables
Axiomatize or Die
Unsolved Problems
- Principia Mathematica
- Bologna 1928
- The Revelation of Gödel
The Turing Machine
- Computable Numbers
- Computing Machine
- Conclusions 1936

4. The Mathematics of Secrecy #

A Brief History of Numbers
Tool of War
Linked by Signals
The Persuasion Factory
Bletchley Park
Ratio Club
Metallic Intelligence
Eternal Alan

Part II: After Turing #

5. Modern Computing #

Bell Labs
Claude Shannon
- Glad You Came
- Information Theory
The UNIX Era
- New Languages
- New Clock
The First Microprocessor
Horst Feistel
- Lucifer
- DES
ARPANET
First Companies
Computational Complexity

6. The Dawn of Strong Cryptography #

Forbidden Cryptography
- One Law to Ban Them All
Key Cryptography public
Diffie-Hellman-Merkle
- Martin Hellman
- Whitfield Diffie
- Whit meets Martin
- Diffie investigates with Hellman
- Multi-user cryptographic techniques
- Ralph Merkle
- Merkle 1974
- Merkle puzzles
- Ralph meets Whit and Martin
- New directions in cryptography
The RSA team
- Ron, Adi and Len
- The RSA system
Key distribution centers (KDC)
Distributed networks
Merkle tree

7. Making legion #

Internet universe
USENET
CPSR
David Chaum
- Crypto Conferences
- CRYPTO ’82
Zero knowledge proof
Free software
- GNU Project
- Free Software Foundation

8. Road to libertarian #

Digital signatures
- Taher Elgamal
- Claus Schnorr
Curves elliptical
David vs. Big Brother
Cryptoanarchy
Extropians

9. Soldiers of Privacy #

EFF
- John Perry Barlow
- Joohn Gilmore
- Mitch Kapor
- Electronic Frontier
- Cyberspace Independence
EPIC
PGP
- Phil Zimmermann
- Hal Finney
- Dances with Wolves
- OpenPGP
Cypherpunks
- Cyphernomicon
- Cypherpunk Manifesto
Clipper Chip

10. Digital Money #

Tatsuakki Okamoto
Proof of Dwork
Digicash
Hal 1993
Magic Money Digicash
Smart Contracts
The Palace Mint
Hashcash
B-money
Bit Gold
RPOW

11. The Age of Satoshi #

Satoshi Nakamoto
Whitepaper
Binaries
First TX
Bitcoin

Related links

Book website: www.prometeabtc.com/criptoria

Understanding Taxes

2025-01-02T00:00:00+00:00

Taxes are unavoidable. Whether it’s your paycheck, morning coffee, or the house you just bought, taxes are everywhere. If you’ve ever wondered where your money goes after payday or why buying property comes with extra fees, this post is for you. I’ll keep it simple without diving into complicated legal stuff.

Tax journey 101
Types of Taxes
How do they work?
Why do we pay taxes?
A new perspective

Tax journey 101 #

When you earn:
- Personal Income Tax: Deducted from your salary.
- Social Security Contributions: For healthcare, pensions, and unemployment.
- Self-Employment Tax: Covers taxes and social security for freelancers.
When you spend:
- Value-Added Tax (VAT): Adds 10%-25% to most goods and services.
- Excise Tax: Extra charges on fuel, alcohol, tobacco, and luxury items.
When you own:
- Property Tax: Paid annually on owned real estate.
- Wealth Tax: Charged on substantial assets in some countries.
- Road Tax: Annual fee for owning or operating a vehicle.
When you transfer or inherit:
- Transfer Tax: Applied to purchases like second-hand properties.
- Inheritance/Gift Tax: Payable on inherited assets or large gifts.
When you sell:
- Capital Gains Tax: On the profit when selling property, stocks, or investments.
- Land Value Increase Tax: On the increase in land value during ownership.
When you use services:
- Local Fees: For waste collection, car registration, or building permits.
- Tourism/Travel Tax: For lodging or certain tourist-related services.
When you win the lottery:
- Lottery Tax: A substantial portion of your winnings goes to the government.

Types of taxes #

Consider taxes as a three-course meal: direct, indirect, and special.

Direct taxes: What you earn and own #

These taxes are based on your income, assets, or gains:

Income Tax: This is the big one. It’s progressive, meaning the more you earn, the higher your pay rate. Income Tax applies to salaries, freelancing income, rental earnings, and investment gains.
Corporate tax: This tax is paid on businesses’ profits. Rates vary by country, but a general rate of 20-30% is common.
Wealth Tax: Some countries tax high-net-worth individuals on their total assets, like properties or savings. Rates and exemptions depend on where you live.
Inheritance and Gift Tax: When you inherit assets or receive a significant gift, you must pay taxes. The rate often depends on your relationship with the giver.

Indirect taxes: What you spend #

These taxes are baked into the price of goods and services:

Value-Added Tax (VAT): A tax on almost everything you buy. Standard rates range from 10-25% in most countries, though essential goods like food and medicine often have reduced rates.
Excise taxes: Special taxes on products like alcohol, tobacco, and fuel. They’re designed to raise revenue while discouraging consumption.

Property and local taxes: Owning stuff costs money #

If you own, rent, or sell property, these taxes come into play:

Property Tax: Paid annually based on the value of your home or land.
Transfer Tax: When buying a 2nd-hand property, you might pay a % of its price.
Capital Gains Tax: When selling a property or other assets for a profit.

Other Taxes and fees: The little extras #

These include fees for registering vehicles, paying for waste collection, and obtaining permits. They might seem minor, but they add up over time.

How do they work? #

Taxes are usually a mix of national, regional, and local responsibilities:

National taxes have standardized rates, like income tax or VAT.
Regional taxes vary depending on where you live, like wealth or inheritance taxes.
Local taxes are specific to your city or town, like property or waste fees.

Taxes are often deducted directly from employees’ paychecks. Freelancers and business owners, on the other hand, need to calculate and pay their taxes regularly.

Why do we pay taxes? #

Taxes are meant to pay for public services like roads, healthcare, schools, and pensions to make life better for everyone. But the system’s complexity and how the money is spent often make it feel unfair.

Are Taxes fair? #

This depends on two big questions: Who should pay? How much is fair?

The case for taxes #

Taxes fund essential services we all use, like hospitals and schools.
Progressive taxes, where higher earners pay more, help reduce inequality and create stronger communities.

The case against taxes #

Some taxes, like wealth or inheritance taxes, feel unfair. They take money that’s already been earned.
Worse, when governments waste tax money on corruption or bad decisions, people feel like they’re paying for nothing.

It feels unfair when governments waste the money. If services don’t improve or funds are mismanaged, it’s frustrating to see your money disappear without benefit.

Taxes would seem much fairer if people trusted their money was being spent wisely. Without trust, paying taxes feels like throwing money into a black hole.

A new perspective #

Taxes are supposed to fund critical public services, but the biggest problem with taxes (and big governments) is that they often lead to inefficiency and corruption. The more power a government has, the more likely it is to misuse it. That’s why governments should be (for me) small, focused, and efficient, providing essential services without overcomplicating things or overreaching into people’s lives.

Here is where Bitcoin offers an interesting alternative. Bitcoin is decentralized, which means no one controls it: not governments, banks, or anyone. This removes the risk of corruption or mismanagement by powerful institutions. Every Bitcoin transaction is recorded on a public ledger that anyone can verify, so it’s transparent and resistant to manipulation.

While most countries want to tax Bitcoin transactions, using Bitcoin gives people more control over their money. Unlike traditional currencies that governments can print endlessly (causing inflation and lowering the value of savings), Bitcoin has a limited supply, so its value can’t be diluted similarly. It’s also borderless, meaning you can send and receive money without relying on banks or other intermediaries that might take a cut or add delays.

Why government money works #

Have you ever wondered why paper money has value when it’s not backed by gold or anything physical? The answer is taxes. Governments require you to pay taxes in their currency. This creates forced demand: everyone needs euros, dollars, or yen to pay the government. It’s a circular system. The government creates the money, then requires you to earn it, then takes a portion back through taxes. This is why government money is sometimes called “fiat” (from Latin, meaning “let it be done”). It works because the government says so, and backs that up with the tax system.

Inflation: The hidden tax #

Inflation is often called a “hidden tax,” and for good reason. When governments print money endlessly to fund their spending, the value of the existing money drops. This means your hard-earned savings can buy less over time.

While politicians benefit in the short term by having more money to spend without directly raising taxes, ordinary people pay the price through higher living costs. Inflation is theft, as it quietly takes value away from everyone’s money to cover the government’s poor financial decisions.

With its fixed supply of 21 million coins, Bitcoin cannot be inflated in this way. Its scarcity ensures that no one, including politicians, manipulates its value. For people frustrated by rising prices and shrinking savings, Bitcoin offers a way to protect their wealth from the damaging effects of inflation. It’s a system designed to reward savers, not punish them.

Final thoughts #

Bitcoin doesn’t eliminate taxes or public services but challenges how we think about money and power. It gives people more control over their wealth and shows how financial systems work without needing large, often corrupt institutions. It’s a step toward a world where individuals have more freedom and governments focus on being small, efficient, and fair.

The Genesis Book

2024-06-21T00:00:00+00:00

Bitcoin did not appear out of nowhere. For decades prior to Satoshi Nakamoto’s invention, a diverse group of computer scientists, privacy activists, and heterodox economists tried to create a digital form of money that could operate independently of government control. The Genesis Book tells the story of the people and projects that inspired the invention of the world’s first successful peer-to-peer electronic cash system.

Contents #

Part I: Foundations #

Spontaneous Order
Free and Open Source
Neutral Money
Cryptography
Denationalization of Money
eCash (and Trustless Time-stamps)
The Extropians

Part II: Cypherpunks #

The Cypherpunk Movement
Cypherpunk Currency
Hashcash
Bit Gold
B-money (and BitTorrent)
RPOW

Part III: Bitcoin #

Twenty-First Century Fiat
The White Paper
The Release

The central bank declared the insurer “too big to fail,” and, along with the US Treasury, bailed it out with an injection of $68 billion (plus another $112 billion in guarantees).

If Friedrich Hayek’s analysis of monetary economics early in this career was correct, Bitcoin could help fix the economy. As an unbacked currency that operated without a central bank, bitcoin was an entirely homogeneous form of money. Anyone could control their own coins, and there were no reserve ratios to worry about. And, since bitcoin existed on the internet, it was borderless as well. Anyone with an internet connection, anywhere in the world, could download the software and start sending and receiving transactions to anyone else. This combination (a homogeneous, borderless type of money with a fixed supply) is what Hayek once described as neutral money.

Bitcoin would also facilitate international trade in a much more straightforward manner, where only the buyer and seller and (the prices of) their respective products are affected, not the price levels across their entire countries.

In Bitcoin, no one is in charge… and everyone is in charge.

The Book Of Satoshi

2023-07-10T00:00:00+00:00

Have you, like the rest of the world, speculated as to the identity of Satoshi Nakamoto, anonymous creator of Bitcoin?

The world’s first cryptocurrency, Bitcoin went online in 2009 and has since revolutionized our concepts of currency and money. Not supported by any government or central bank, completely electronic, Bitcoin is a virtual currency based on advanced cryptographic systems.

Like the currency he created, the identity of Bitcoin’s creator Satoshi Nakamoto is virtual, existing only online. The Nakamoto persona, which may represent an individual or a group, exists only in the online publications that introduced and explained Bitcoin during its earliest days. Here, collected and professionally published for the first time are the essential writings that detail Bitcoin’s creation.

The Book of Satoshi provides a convenient way to parse through what Bitcoin’s creator wrote over the span of the two years that constituted his “public life” before he disappeared from the Internet . . . at least under the name Satoshi Nakamoto.

Beginning on November 1st 2009 with the publication of the seminal paper describing Bitcoin, this public life ends at about the time PC World speculated as to a possible link between Bitcoin and WikiLeaks, the infamous website that publishes leaked classified materials. Was there a connection? You be the judge.

Nakamoto’s true identity may never be known. Therefore the writings reproduced here are probably all the world will ever hear from him concerning Bitcoin’s creation, workings, and theoretical basis. Want to learn more about Bitcoin? Go directly to the source-the writings of the creator himself, Satoshi Nakamoto.

The Blocksize War

2023-06-20T00:00:00+00:00

This book covers Bitcoin’s blocksize war, which was waged from August 2015 to November 2017. On the surface the battle was about the amount of data allowed in each Bitcoin block, however it exposed much deeper issues, such as who controls Bitcoin’s protocol rules.

This book explores some of the major characters in the conflict and includes coverage, from both the front lines and behind the scenes, during some of the most acute phases of the struggle.

The account in this book includes discussions with the key players from both sides during the war, exploring their motivations, strategy and thought processes as the exhausting campaign progressed and developed.

Chapters #

First strike
March to war
Scaling I - Montreal
Scaling II - Hong Kong
SegWit
Lightning network
Bitcoin Classic
Hong Kong Round table
Faketoshi
The DAO
Scaling III - Milan
Bitcoin unlimited
Exchanges
ASICBoost
Dragons’s Den
Litecoin
User - Activated softfork
New York agreement
Bitcoin Cash
SegWit2x
Victory

Summary #

21 Lessons

2023-03-11T00:00:00+00:00

Gigi portrays Bitcoin as more than just money; it’s a deep dive into economics, philosophy, and culture. Like Alice in Wonderland, exploring Bitcoin is full of surprises, teaching about money, inflation, and the idea of decentralization. It redefines what ‘good money’ is, shows its cultural impact, and stresses that learning about Bitcoin is a personal journey that keeps evolving.

Key takeaways #

Philosophical and Conceptual Insights #

Bitcoin teaches more than traditional education, offering insights into economics and philosophy. Engaging with Bitcoin feels like falling down a rabbit hole, full of learning and surprises.

Economic and Monetary Lessons #

Bitcoin brings back the idea of ‘sound money’, teaching about inflation and banking systems. Issuing new money reduces the value of existing money, unlike Bitcoin which has a fixed supply.

Technical and Cultural Aspects #

Bitcoin’s core ideas include scarcity, security, and consensus, but the book isn’t a technical manual. Bitcoin reflects a shift towards decentralization, influenced by movements like cypherpunk.

Personal and Educational Journey #

Each person might learn different lessons from Bitcoin, encouraging personal exploration. Bitcoin’s lessons evolve, requiring ongoing study.

“21 Lessons” focuses on why Bitcoin matters philosophically, economically, and culturally, rather than how to use it.

You can buy the book or read it for free on their own website: https://21lessons.com/preface

Bitcoin: Blockchain y su investigación

2022-05-10T00:00:00+00:00

This book was published in 2017, so most of the technology shown is already history. And that’s precisely what I really like from the book itself, the “historical part” and the origin of the blockchain.

How is created Bitcoin address? How does it work the creation of the private & public keys and how are they known as wallets? And many other interesting questions.

Back then, we got some websites and services that were using Bitcoin as a payment method, and there was a beauty trend.

The first half of the book is the best part, and I would say it’s still relevant due to the origin of this tech.
The second half, on the other hand, I would say is “more optional” and for curious people. There are no learnings from this part, besides the trend that you can see we already had back in 2016/2017. Today in 2022 the tech (and projects using blockchain) has evolved a lot.

I would really like to read a new book with an updated investigation 5 years after the first edition.

The book is available only in Spanish: 0xWord

The Psychology of Money

2022-02-27T00:00:00+00:00

Having more money will make you happier ONLY if that means you’ll have more control over your time.

“I did not intend to get rich. I just wanted to get independent.” Charlie Munger.

Money Misunderstandings #

Compounding #

Start investing with whatever you can afford, and stay invested.
Leverage the power of compounding.

Volatility #

It’s not possible to get high returns without volatility.
It’s the emotional price you need to pay if you want good annual returns.
Embrace volatility. Volatility is a fee, not a fine.

Tail investments #

It’s hard to predict what will be the “next big thing”, therefore it’s important to diversify.
A tail investment is single investment that massively outperform all others, and made up for several bad investments.
Make many diversified investments to benefit from a few tail investments.

Quotes #

“There is no reason to risk what you have and need for what you don’t have and don’t need.”

“Long tails (the farthest ends of a distribution of outcomes) have tremendous influence in finance, where a small number of events can account for the majority of outcomes.”

“The ability to do what you want, when you want, with who you want, for as long as you want, is priceless. It is the highest dividend money pays.”

“Like everything else worthwhile, successful investing demands a price. But its currency is not dollars and cents. It’s volatility, fear, doubt, uncertainty, and regret, all of which are easy to overlook until you’re dealing with them in real time.”

“Few things matter more with money than understanding your own time horizon and not being persuaded by the actions and behaviors of people playing different games than you are.”

Video Summary #

The Bitcoin Standard

2021-09-20T00:00:00+00:00

The Bitcoin Standard analyzes the historical context to the rise of Bitcoin, the economic properties that have allowed it to grow quickly, and its likely economic, political, and social implications.

While Bitcoin is a new invention of the digital age, the problem it purports to solve is as old as human society itself: transferring value across time and space. Ammous takes the reader on an engaging journey through the history of technologies performing the functions of money, from primitive systems of trading limestones and seashells, to metals, coins, the gold standard, and modern government debt.

With this background in place, the book moves on to explain the operation of Bitcoin in a functional and intuitive way. Bitcoin is a decentralized, distributed piece of software that converts electricity and processing power into indisputably accurate records, thus allowing its users to utilize the Internet to perform the traditional functions of money without having to rely on, or trust, any authorities or infrastructure in the physical world.

The final chapter of the book explores some of the most common questions surrounding Bitcoin:

Is Bitcoin mining a waste of energy?
Is Bitcoin for criminals?
Who controls Bitcoin, and can they change it if they please?
How can Bitcoin be killed?

The Bitcoin Standard is the essential resource for a clear understanding of the rise of the Internet’s decentralized, apolitical, free-market alternative to national central banks.

Video Summary #

Extra: Lex Fridman Podcast with the author of this book

Stock market investing

2021-01-31T00:00:00+00:00

Stock Market Basics & Essentials
Fundamental, Industry and Company Research
Investment Styles Such as Value, Growth and Income Investing
Short Selling, Buying on Margin, Day Trading

One up on wall street

2021-01-22T00:00:00+00:00

America’s most successful money manager tells how average investors can beat the pros by using what they know. According to Lynch, investment opportunities are everywhere.

Rich dad poor dad

2021-01-15T00:00:00+00:00

Explodes the myth that you need to earn a high income to become rich
Challenges the belief that your house is an asset
Shows parents why they can’t rely on the school system to teach their kids about money
Defines once and for all an asset and a liability
Teaches you what to teach your kids about money for their future financial success

Chemaclass - economics

Laissez Faire, Laissez Passer

The knowledge nobody has #

The seen and the unseen #

Freedom is not chaos #

The one price they never freed #

The default is freedom #

Broken Money

What Makes Money Work? #

The Fiat Experiment #

The Network Effects of Money #

Bitcoin as a Solution #

Final Thoughts #

Bitcoin Fundamentals

A Brief History of Money #

What is Bitcoin? #

Sound Money #

Scarcity #

Inflation Protection #

Freedom & Sovereignty #

Self-custody #

Permissionless & Borderless #

Censorship Resistance #

Real Stories #

Common Objections #

Honest Caveats #

Bitcoin Today #

Institutional adoption #

Global adoption #

Real-world usage #

Getting Started #

Want to try? #

Principles of Economics

1. Economics = Human Action #

2. Time Preference = How Much You Value the Future #

3. Good Money = Strong Society #

4. Producing Stuff Takes Time, and That Matters #

5. Entrepreneurs, Not Governments, Drive Progress #

6. Inflation and Central Planning? Big Red Flags #

7. Bitcoin: The Grand Finale #

Final Thoughts: A Crash Course in Real Economics #

Austrian Economics vs Keynesian Economics #

The Road to Serfdom

1. The danger of central planning #

2. The illusion of “good” socialism #

3. Rule of law vs. Rule by discretion #

4. Markets work because no one’s actually in charge #

5. Incremental loss of freedom #

Final thoughts: Is Hayek still relevant? #

Criptoria

Content #

Part I: Before Turing #

1. The Beginning of the End #

2. In Search of Truth #

3. Numbers Shall Set You Free #

4. The Mathematics of Secrecy #

Part II: After Turing #

5. Modern Computing #

6. The Dawn of Strong Cryptography #

7. Making legion #

8. Road to libertarian #

9. Soldiers of Privacy #

10. Digital Money #

11. The Age of Satoshi #

🇪🇸 Related videos #

Understanding Taxes

Tax journey 101 #

Types of taxes #

Direct taxes: What you earn and own #

Indirect taxes: What you spend #

Property and local taxes: Owning stuff costs money #

Other Taxes and fees: The little extras #

How do they work? #

Why do we pay taxes? #

Are Taxes fair? #

The case for taxes #

The case against taxes #

A new perspective #

Why government money works #

Inflation: The hidden tax #