Studying #Bitcoin Will Turn You Into a Historian

Important dates every Bitcoiner should know:

1776

The year of the American Revolution.

The United States was born from the ideals of freedom, liberty, and sovereignty.

This was the fight for monetary and economic autonomy in the struggle for independence.

232 years later, #Bitcoin picks up where this left off.

1792

The Coinage Act of 1792.

This created a bimetallic standard (gold and silver) for currency.

The Act was a response to the chaotic state of American currency post-independence, where various forms of money were in circulation, causing confusion and instability.

1862

The Legal Tender Act

Introduced the use of paper money (“greenbacks”) to finance the Union states during the Civil War.

This was like when the US first smoked crack.

Once you conquer with fiat, you can’t go back.

1900

The Gold Standard Act.

The goal here was to associate the reputation & trustworthiness of Gold with the Dollar.

Then, it might maintain a fixed store-of-value standard for all forms of money coined by the U.S.

This was either a failed experiment,
or all part of the plan.

1913

The notorious creature from Jekyll Island,

The Federal Reserve Banking Cartel.

This is when money in the US finally sold its soul to central planning.

The first major iron in the fire to inspire the creation of #Bitcoin

1929–1939

The Great Depression.

Triggered by the Stock Market Crash of 1929, banks failed(no FDIC yet), people starved, and quality of life was in the toilet.

Many atrocities came from this including social welfare programs and Keynesian consumer spending delusion.

1933

Executive Order 6102

This is why Bitcoiners have trust issues.

Gold maintained the integrity of the dollar. But evil bankers don’t like integrity.

Remember, the price of gold before the order was $20.67 per ounce.

It was $35 per ounce in 1934.

1944

The Bretton Woods Agreement.

or, “Banking Gone Wild” Agreement.

The International Monetary Fund and World Bank were established.

More importantly, the U.S. dollar was crowned as the world reserve currency.

What could possibly go wrong with all that power?

1971

This is when fiat went full tilt.

The U.S. finally divorced hard money and hopped in bed with easy money.

How?

President Richard Nixon announced that the U.S. dollar would no longer convert to gold and that the green paper was good enough.

Who needs scarcity anyway?

2007–2008

The Global Financial Crisis

The fiat-induced boom-bust cycle.

The U.S. housing market crashed, and millions of Americans lost their jobs.

The world was desperate for sound money, and degenerate leverage antics destroyed people’s livelihoods.

2008

October 31st.

Satoshi Nakamoto published “Bitcoin: A Peer-to-Peer Electronic Cash System,” proposing a decentralized alternative to the fiat dumpster fire.

Long time coming but hard money was back in business.

2009

Jan 3rd, The Genesis Block.

#Bitcoin was, in fact, not pre-mined.

This was the beginning of the Bitcoin timechain and the birth of freedom money.

It was very intentionally inscribed with this message:

“Chancellor on brink of second bailout for banks”

2010

MoE hear we come.

The First Bitcoin Transaction

AKA Bitcoin Pizza Day

Laszlo Hanyecz posted on the BitcoinTalk forum, offering 10,000 BTC in exchange for two pizzas.

A fellow forum member accepted, marking the first digital transaction without a 3rd party.

Boom.

Back to 2024.

15 years later, #Bitcoin is the greatest form of money humanity has ever seen.

What a time to be alive.

The road was not easy.

And the work is not done.

But life, liberty, and the pursuit of happiness will prevail under hard money.

Check out my profile for all my other writing masterpieces — @BillyBoone32