Lecture 3 in The Bitcoin Standard explains how primitive moneys gained and lost their value, why difficulty of production was essential to their monetary role & how the stories of Rai stones, glass beads & seashells illustrate the dangers of easy money.

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At the Property & Freedom Society, Saifedean presents his latest book, The Gold Standard, an alternative history of the 20th century where hard money ended WWI, made governments compete for citizens & enabled free trade & self-determination.

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Lecture 2 in The Bitcoin Standard explains the problem money solves, how the solution shapes the desirable properties of money: salability across scales, space & time; why the latter property, expressed through hardness, is the critical feature of money & how it can be measured.

Join the live discussion seminar on Twitter/X Spaces on Tuesday October 27 at 2pm GMT. Follow @saifedean on Twitter to be sure to join.

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CrowdHealth: The Bitcoiner’s answer to fiat health insurance. Get your first 3 months for $99/month with code SAIF at https://joincrowdhealth.com

Starting this week, Saifedean will be sharing a new online course on The Bitcoin Standard, revisiting the book almost 10 years on. This first lecture covers the prologue: how Bitcoin started, how it gained value, and why it is digital cash and digital hard money.

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Throwback to Saifedean's 2018 launch of The Bitcoin Standard with his first book talk, held in Vienna, fittingly enough!

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Saifedean is hosted by Bitcoin Magazine TV to discuss his recent work on Bitcoin mining and stablecoins, as well as the US fiscal outlook.

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Saifedean examines whether growing stablecoin demand can reduce price inflation & help US fiscal solvency. He focuses on often-overlooked trade-offs: lost seigniorage, displaced long-term Treasury demand & bank credit, & more fragile short-term funding & rollover risk.

Marina Azzimonti and Vincenzo Quadrini — Digital Assets and the Exorbitant Dollar Privilege

 Marina Azzimonti and Vincenzo Quadrini — Digital Economy, Stablecoins, and the Global Financial System

 Stephen Miran — A Global Stablecoin Glut: Implications for Monetary Policy

 Rashad Ahmed and Iñaki Aldasoro — Stablecoins and Safe Asset Prices

 Congressional Budget Office — How Changes in Economic Conditions Might Affect the Federal Budget: 2026 to 2036

 Saifedean Ammous — Bitcoin & Tether: Drinking the Dollar Milkshake — Bitcoin 2025

 Treasury Borrowing Advisory Committee — Report to the Secretary of the Treasury

Saifedean argues bitcoin mining electricity consumption and capital expenditure may have peaked, and presents the argument as a testable hypothesis, and discusses the long-term implications for bitcoin, mining, and AI.

Full Article:

https://saifedean.substack.com/p/bitcoin-electricity-consumption-may
https://x.com/saifedean/status/2099782818138128866

Sponsors:

Swan - Your Partner for Generational Wealth - https://swan.com/saif
The Saif House - High quality cloth hardcover bitcoin books by Saifedean & more delivered worldwide, with 10% off for paying in bitcoin - https://TheSaifHouse.com

Saifedean hosts a debate between JW Weatherman and Giacomo Zucco on whether hardware wallets are a security liability. They discuss the Cold Card entropy backdoor, multi-vendor multisig, the code review process in Bitcoin Core, using generic laptops, and how to think about your threat model.

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Saifedean talks to Ben Westgate and @BtCPavao about how to store bitcoin safely with Bitcoin Core and an old laptop, generating and backing up keys, the problems with BIP39 seed phrases, when multisig makes sense, custodians, and why gambling and lending destroy stacks.

Saifedean joins Mark Moss to discuss how fiat money and central banking are destroying people's ability to build wealth, why Bitcoin beats gold as a store of value, the recent Cold Card hack, self-custody, and whether borrowing to buy Bitcoin is a smart strategy.