Episode notes
Described by Jordan Peterson as "frighteningly smart", Allen Farrington is a member of saifedean.com who has written some excellent essays on bitcoin, and also spent an enormous amount of time studying the work of various fiat intellectuals, so you don't have to. He joins us for a deep dive into why fiat intellectuals have such a hard time understanding bitcoin, why it triggers them so much, and whether there is anything important or profound in the ramblings of angry fiaters like George Selgin, Eric Weinstein, and Nassim Taleb.
The discussion makes reference to the following articles by Allen:
- Bitcoin is Venice: https://bit.ly/3uihiLJ
- Wittgenstein’s Money: https://bit.ly/3eeXvaq
- There was Never Real Tulip Fever: https://bit.ly/3gY0u8Q
- Money, Blockchains and Social Scalability: https://bit.ly/3eO1pX1
- The Capital Strip Mine: https://bit.ly/3t8cI1e
Other books and articles referenced in the discussion include:
- Enders Game by Parker Lewis: https://bit.ly/3edxAQl
- Principles of Economics by Carl Menger
- The Theory of Money and Credit by Ludwig von Mises
- The Ultimate Resource by Julian Simon
- The Mystery of Capital by Hernando de Soto
- Complexity and the Economy by Brian Arthur
- Competition and Entrepreneurship by Israel Kirzner
- The Dao of Capital by Mark Spitznagel
THE BITCOIN STANDARD TOOLKIT
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Check their website here: https://cyphersafe.io/
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Whenever someone asks me how to invest in Bitcoin, my advice is to accumulate bitcoins periodically for the long run, or dollar-cost averaging. When you buy every day, week, or month, you play bitcoin’s volatility to your advantage. In the long run, this strategy will outperform every other bitcoin investment strategy, except for dumb luck, and lying about timing the market. For dollar-cost averaging, I strongly recommend OKCoin, the exchange with the lowest fees for recurring purchases worldwide. OKCoin is also the bitcoin exchange accessible in the most countries around the world.
Check their website here: https://okcoin.com/
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I believe it is really important to run a node, but I don’t recommend running it on your work or personal computer, as it can compromise the performance of your computer and, more importantly, the security and privacy of your bitcoin node. A far better solution is to buy a dedicated hardware node, and for that, I highly recommend Nodl.
Check their website here: https://www.nodl.it/
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My hardware wallet of choice is the Coldcard. I strongly recommend only conducing bitcoin trades on computers that are dedicated to bitcoin and cannot connect to the internet. I like the Coldcard because it is a contained machine optimized for bitcoin and bitcoin only.
Coldcard is basically a small computer that can only do bitcoin, which makes securing it more straight-forward. Use the code BITCOINSTANDARD on coldcardwallet.com to get a 5% discount.
Check their website here: https://coldcardwallet.com/
