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Braiins book report - Bitcoin: Separation of money and state by Josef Tětek

Through a brief overview of the history of money and states, we see that bitcoin is permissionless and therefore an empowering and inevitable new monetary standard.

Published on Apr 10, 2024
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Published on Apr 10, 2024

Table of Contents

In his book Czech economist Josef Tětek explains how we’re at a pivotal moment in the monetary history of humanity. Through this exploration of current and failed examples of state-controlled money, the results of the separation of various institutions from the state, and what makes bitcoin different from other money, you’ll understand the value of bitcoin as a decentralized currency and all the advantages it has to offer.

Bitcoin journeys start with why

Bitcoiners like asking 'why.'
Why does the state need to control money?
Why do economies need 2% inflation every year?
Why is inflation called a tax on the poor?

In his latest book, Bitcoin: Separation of Money and State, Tětek answers these questions and more

Saying no to state control, saying yes to free market

Austrian economics argues against state-controlled monetary policy and as such is frequently tied to bitcoin. For the overwhelming majority of human existence, some sort of state has had power over money. Shockingly, this has not always worked out for the majority of people.

Bitcoin: Separation of Money and State details examples of how the state has influenced monetary policy, why that negatively affected society, and what a potential fix could be (read: bitcoin).

Tětek explains the principles of Austrian Economics through succinct comparisons and creative memes:

Money throughout society

Through a brief history of money (including the Greek Drachma, Roman Denarius and Aureus, Byzantine Solidus, and modern paper money) Tětek demonstrates how monetary decisions during all of these periods ultimately hurt society economically which strengthens the argument for bitcoin.

Society got by with gold and silver as currency, until the state wanted to pay for things it couldn’t afford. Currency debasement literally comes from mixing base metal with the precious metals in ancient coins to have “more” money. The third century AD endured the highest currency debasement in the history of the Roman Empire.

Eventually, the state turned to paper notes “representing” ownership of gold or silver stored elsewhere. Surely this idea would work, making the exchange of money for metal seamless. 

Tětek provides a quote from The Creature from Jekyll Island highlighting paper money in the American colonies:

By the late 1750s, Connecticut had prices inflated by 800%. The Carolinas had inflated 900%. Massachusetts 1000%. Rhode Island 2300%. Naturally, these inflations all had to come to an end and when they did, they turned into equally massive deflations and depressions.

The Thirteen Colonies didn’t quite fix this issue once they became the United States. Tětek dives into various US monetary policies, from bimetallism to the Federal Reserve System, the famed Executive Order 6102, where the United States government rug pulled its citizens, and the “temporary” removal of the Gold Standard.

Enter bitcoin

Tětek argues that right now is the most important monetary period in history.

“For the first time in the history of humanity, we have available money for which:

  1. We do not need a central authority for minting and certification of monetary units.
  2. There exists no monetary policy in the real sense of the world.”

Gold and silver are no longer necessary as money, and no group or committee has to decide what is best for citizens financially. Sometimes, disruption is a good thing.

Money is neutral

Money does not create wealth; it can, however, move wealth from the hands of some to the hands of others–from producers of goods to the masters of money.

There is a separation of media and state.

There is a separation of church and state. 

There is a separation of education and state.

Money is neutral, and bitcoin is the first ever truly neutral money.

Bitcoin is the separation of money and state.

Josef Tětek at a Halving party organized by Braiins and SatoshiLabs in Prague.

About Josef Tětek

Josef Tětek is a passionate bitcoiner and economist who works as a bitcoin analyst at Trezor. He dedicates himself to bitcoin education through initiatives like Trezor Academy and his books. With a background in Austrian economics, he regularly publishes articles on bitcoin-related current events and speaks at conferences across the globe. You can follow him here

Bitcoin: Separation of Money and State is available in three forms

Buy a physical book

Physical copies of Separation can be purchased at the Braiins Shop.

Download an eBook for free

eBooks can be downloaded for free (use it to orange-pill your friends!)

Listen to the Audiobook for free

The audiobook, narrated by BTC Gandalf, can be found below:

Become a PUBLISHED AUTHOR with Braiins

We are looking for the best and brightest paid external contributors for the blog. Send us a direct message on X with your ideas and become a published author—our top content might make it in our next book.

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Braiins book report - Bitcoin: Separation of money and state by Josef Tětek

Braiins News

Published

10.4.2024

Through a brief overview of the history of money and states, we see that bitcoin is permissionless and therefore an empowering and inevitable new monetary standard.

Table of Contents

In his book Czech economist Josef Tětek explains how we’re at a pivotal moment in the monetary history of humanity. Through this exploration of current and failed examples of state-controlled money, the results of the separation of various institutions from the state, and what makes bitcoin different from other money, you’ll understand the value of bitcoin as a decentralized currency and all the advantages it has to offer.

Bitcoin journeys start with why

Bitcoiners like asking 'why.'
Why does the state need to control money?
Why do economies need 2% inflation every year?
Why is inflation called a tax on the poor?

In his latest book, Bitcoin: Separation of Money and State, Tětek answers these questions and more

Saying no to state control, saying yes to free market

Austrian economics argues against state-controlled monetary policy and as such is frequently tied to bitcoin. For the overwhelming majority of human existence, some sort of state has had power over money. Shockingly, this has not always worked out for the majority of people.

Bitcoin: Separation of Money and State details examples of how the state has influenced monetary policy, why that negatively affected society, and what a potential fix could be (read: bitcoin).

Tětek explains the principles of Austrian Economics through succinct comparisons and creative memes:

Money throughout society

Through a brief history of money (including the Greek Drachma, Roman Denarius and Aureus, Byzantine Solidus, and modern paper money) Tětek demonstrates how monetary decisions during all of these periods ultimately hurt society economically which strengthens the argument for bitcoin.

Society got by with gold and silver as currency, until the state wanted to pay for things it couldn’t afford. Currency debasement literally comes from mixing base metal with the precious metals in ancient coins to have “more” money. The third century AD endured the highest currency debasement in the history of the Roman Empire.

Eventually, the state turned to paper notes “representing” ownership of gold or silver stored elsewhere. Surely this idea would work, making the exchange of money for metal seamless. 

Tětek provides a quote from The Creature from Jekyll Island highlighting paper money in the American colonies:

By the late 1750s, Connecticut had prices inflated by 800%. The Carolinas had inflated 900%. Massachusetts 1000%. Rhode Island 2300%. Naturally, these inflations all had to come to an end and when they did, they turned into equally massive deflations and depressions.

The Thirteen Colonies didn’t quite fix this issue once they became the United States. Tětek dives into various US monetary policies, from bimetallism to the Federal Reserve System, the famed Executive Order 6102, where the United States government rug pulled its citizens, and the “temporary” removal of the Gold Standard.

Enter bitcoin

Tětek argues that right now is the most important monetary period in history.

“For the first time in the history of humanity, we have available money for which:

  1. We do not need a central authority for minting and certification of monetary units.
  2. There exists no monetary policy in the real sense of the world.”

Gold and silver are no longer necessary as money, and no group or committee has to decide what is best for citizens financially. Sometimes, disruption is a good thing.

Money is neutral

Money does not create wealth; it can, however, move wealth from the hands of some to the hands of others–from producers of goods to the masters of money.

There is a separation of media and state.

There is a separation of church and state. 

There is a separation of education and state.

Money is neutral, and bitcoin is the first ever truly neutral money.

Bitcoin is the separation of money and state.

Josef Tětek at a Halving party organized by Braiins and SatoshiLabs in Prague.

About Josef Tětek

Josef Tětek is a passionate bitcoiner and economist who works as a bitcoin analyst at Trezor. He dedicates himself to bitcoin education through initiatives like Trezor Academy and his books. With a background in Austrian economics, he regularly publishes articles on bitcoin-related current events and speaks at conferences across the globe. You can follow him here

Bitcoin: Separation of Money and State is available in three forms

Buy a physical book

Physical copies of Separation can be purchased at the Braiins Shop.

Download an eBook for free

eBooks can be downloaded for free (use it to orange-pill your friends!)

Listen to the Audiobook for free

The audiobook, narrated by BTC Gandalf, can be found below:

Become a PUBLISHED AUTHOR with Braiins

We are looking for the best and brightest paid external contributors for the blog. Send us a direct message on X with your ideas and become a published author—our top content might make it in our next book.

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