glaring error of classical proportions:

Quote from above: First of all, all human societies are kept together by money. Without money, there cannot be commercial transactions, and without that no complex society can exist.


Societies, at whatever level they are developed to, are held together by, the indigenous energy available to that society.

There is a universal, immutable law that governs every nation:

if a nation doesn’t produce enough indigenous surplus energy to support the demands of its people, they must beg, buy, borrow or steal it from somewhere else, or face eventual collapse and starvation/regression until their numbers reach a sustainable level.

Doesn’t matter how much money is printed, if there is insufficient energy in the system to back up the money, then money decreases in value.

All wars, political upheavals, societal breakdowns, can be traced back to that law.

Apart from that, the comments on the nonsense of bitcoin values are correct of course, a bubble soon to be pricked, (if not already pricked).

The “universal Law” destroys bitcoin. Without underlying energy, no currency can sustain its value

This may explain bitcoin better:

co-author of The End of More, in paperback and kindle on Amazon email

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