stacksatsio on Nostr: Per Bylund is off making his own definitions, again. The current crop of Austrian ...
Per Bylund is off making his own definitions, again.
The current crop of Austrian academics who essentially ignore Bitcoin can’t uphold their own arguments.
Per is shitty with me because today I’ve asked why the Cambridge dictionary can define “definition” but it can’t define “money”.
He says economists should define it because it’s an economic concept, but refuses to acknowledge different schools have different definitions and his own school agrees more with my definition which includes “store of value” than his own where he’s tried to outright deny SoV as a meaningful element.
Drag the Austrians through glass. Either they get on board with Bitcoin or we replace them; they want to stick entirely to theory and refuse to adjust when reality shows different and proves their thinking limited.
Saif is already the greatest living Austrian continuing the tradition from Menger, Mises, Hayek, and Rothbard. Per can follow Walter Block into irrelevance if he wants to be contrarian for the sake of it when his school of thought has already been overwhelmingly taken over by #Bitcoiners.
https://x.com/stacksatsio/status/1862881583759515959
The current crop of Austrian academics who essentially ignore Bitcoin can’t uphold their own arguments.
Per is shitty with me because today I’ve asked why the Cambridge dictionary can define “definition” but it can’t define “money”.
He says economists should define it because it’s an economic concept, but refuses to acknowledge different schools have different definitions and his own school agrees more with my definition which includes “store of value” than his own where he’s tried to outright deny SoV as a meaningful element.
Drag the Austrians through glass. Either they get on board with Bitcoin or we replace them; they want to stick entirely to theory and refuse to adjust when reality shows different and proves their thinking limited.
Saif is already the greatest living Austrian continuing the tradition from Menger, Mises, Hayek, and Rothbard. Per can follow Walter Block into irrelevance if he wants to be contrarian for the sake of it when his school of thought has already been overwhelmingly taken over by #Bitcoiners.
https://x.com/stacksatsio/status/1862881583759515959
quoting note1s07…xw4nHAYEK IS TURNING IN HIS GRAVE
Austrian Economics has enjoyed a resurgence in recent years. A once obscure academic framework has entered mainstream discourse as a new cohort of online personalities who have studied it, gain in popularity.
From Comics and Joe Rogan regulars like Dave Smith and Tim Dillon, to MMA fighters like Renato Moicano, to businesspeople like Peter Thiel and Elon Musk - these ideas have found new fertile minds to implant and spread from in the age of the internet.
Then of course there are Bitcoiners -
whose cultishness is in large part strict adherence to anti-State, hard money, and laissez faire free market capitalism of the Austrian school.
No group has done more to spread the word of Mises and Menger and Hayek than the Orange pill brigade. Indeed their progenitors the Cypherpunks themselves were Hayekians, back when Austrian Economics really was fringe.
And so what of today’s Austrian Economists?
Well Saifedean wrote THE bitcoin book and sold a million copies. Peter St Onge is clearly a Bitcoiner. Stephan Kinsella too.
But look through the Mises Institute, the supposed home of Austrian school and the dearth of Bitcoin is staggering.
I’m reminded of Hayek’s “sly roundabout way” quote when considering this because it’s not like there’s a long list of open ended questions in the Austrian school. There’s not a book of unsolved math problems that someone might come along and make a name for themselves with. There’s no “fountain of youth” holy grail to pursue. No room temp superconductors to solve.
Taking money out of the hands of the State is one of the very few things Austrians had to pursue. Satoshi pursued it and found the path.
Rejoice! Hallelujah!!
But no, the majority of Austrian Economists sit on the sidelines and ignore Bitcoin?!
Imagine if the field of astronomy just ignored the discovery of alien life and instead spent all of their efforts debunking flat-earthers. That is what the Austrians who would rather have Xitter debates with MMTers are effectively doing at this point.
Seems to me that these figures have too deeply imbibed the permanent loser mentality of libertarianism. They don’t know what winning looks like so they are lost when they see it - like a nerd who has somehow just pulled a 10 and embarrassingly jizzed his pants before they’ve even left the party.
Forget about Goldbugs - they are LARPers who want Central Banks to pump their bags. The few who seriously hate the State have already joined Bitcoin; the Schiff acolytes never will.
Bitcoiners need a full frontal assault on the Austrians. No more asking them to join us, shame them until they get on board.
Remind them of what Hayek said and how goddamn disappointed that man would be seeing the vanguard of his school twiddling their thumbs on the sly roundabout way to actually subvert the state THAT WE ALREADY HAVE so we don’t have to deal with the shit these guys constantly complain about.
It’s time for the Austrians to swallow the orange pill, or to be given the orange suppository.