Money is an Attention Allocation Technology (Part 6)
Asking yourself "What is Money?" is the 1st step into a philosophical rabbit-hole that could prove to be the most fascinating intellectual journey of your life…
The question “What is Money?” is deceivingly simple. One would expect the answer to be abundantly clear given its prevalence in daily life, but upon further reflection, most find money to be mysterious. Money is pervasive economic phenomenon, an interpenetrating field of energy influencing human perception, thought, and action. Yet despite the all-encompassing nature of money, its deepest truths remain hidden in plain sight. Here, we explore yet another answer to this curious question—money is an attention allocation technology.
Inflation Steals Attention
To nobody’s surprise, the one time you don’t want attention is when you’re doing something others might not like! As almost anyone who’s ever been responsible for taking care of a toddler can likely attest, when kids are up to no good, they’ll get suspiciously quiet and avoidant of attention (when my 3.5 year old is out of sight and being quiet, I quickly know it’s time to investigate what she’s up to!). Adults are the same (after all, we’re all just grown up kids). Looking to plain and simple Biblical Ethics, things that are universally disliked include lying, cheating, and stealing. Liars, cheaters, and thieves always seek to avoid any attention that might undermine their exploits. By hook or by crook, staying in stealth mode is essential for all business models premised upon deception, foul play, or theft. Chief among these nefarious business models is central banking, which derives 100% of its revenues from inflation.
*The Freedom Analects is sponsored by one of my favorite places to buy Bitcoin, Okcoin. They're the fastest growing US-based exchange, serving over 190 countries globally with easy onboarding and always low fees. If you haven't tried them out yet, you should.
Okcoin is on a mission to make learning about and buying Bitcoin easier than ever. From being the only exchange to integrate Lightning to contributing over $1M for Bitcoin core devs, they're doing incredible work to further the Bitcoin ecosystem. And you can even get completely free-free recurring buys if you’re building your portfolio with a little bitcoin at a time. We’re all making the future ok with Bitcoin. To get started, go to okcoin.com/breedlove for $50 in free bitcoin when you sign up.
Let me say it loud and clear: inflation is theft! To say it more technically: fiat currency supply inflation (which is exactly what I am referring to every time I use the term inflation) is the process by which central bank pyramid schemes pilfer the savings of citizens. The irony is, although it is designed to avoid attention, inflation is actually the theft of attention! Remember: whoever (or whatever) has the most accumulating purchasing power has the greatest capacity to bring capital to bear in any given situation, and therefore can command the greatest flow of attention in the marketplace. This richest entity, although perhaps not itself widely known, can move capital in a way that attention—in the form of active employees, managers, executives, regulators, shareholders, and the broader public—will naturally follow.
*If you don’t have a Bitcoin strategy, and a trusted partner to help you execute, you’re falling behind. I’ve known the Swan Bitcoin team for years. The Bitcoiners at Swan are mission-driven, with deep expertise and respect in the Bitcoin space. This is the team you want on your side.
Today I’d like to highlight Swan’s Private Client Services division, which guides high net worth individuals and businesses around the world toward building and preserving wealth with Bitcoin. This concierge service gives you direct access to your dedicated Bitcoin advisor by phone, messaging, and email. Swan will guide you on self-custody, or let you store your coins for free with a US-regulated custodian. Sign up at SwanPrivate.com/Breedlove and get $100 free bitcoin.
Inflation is the theft of attention and the time and energy which constitutes said attention. But, it is crafted to avoid attention! In other words, inflation is designed to steal the products of human attention in a way undetected by attention. When prices inflate as a consequence of fiat currency supply inflation, central banks and their media apparatuses blame supply chains, greedy capitalists, and everything other than monetary policy. Since most people plagued by a general ignorance of the nature of money, inflation affords central banks the “plausible deniability” necessary to misdirect, deceive, and otherwise manipulate public opinion on the root cause of this invisible, insidious form of taxation.
*If you’re still using fiat health insurance, consider upgrading to CrowdHealth, a sponsor of The Freedom Analects.
CrowdHealth is the Bitcoin-friendly alternative to traditional health insurance. Instead of paying premiums in fiat to a big corporation, you send that money to an account controlled by you, a portion of which is converted to Bitcoin. Then if you have a big health event you have a community of Bitcoiners that will use the money in their accounts to help you out. Get more details at joincrowdhealth.com/Breedlove where you can find the promo code for $99 per month for 6 months.
Worse still, the invisible theft of inflation accomplished through currency debasement also injects confusion (or entropy) into the market process. This means that, instead of accurately guiding the allocation of attention toward demands real humans desire supplies of goods to satisfy, inflation creates misleading price signals that induce entrepreneurs to over-borrow, embark on unprofitable projects, and to fail with higher frequency. When currencies are debased, it is no longer possible to tell whether a change in price is a genuine shift in the dynamics of satisfaction and desire, or whether it is the consequence of monetary policy. Said simply: the less currency debasement that occurs, the more deftly producers and consumers can co-ordinate themselves in the marketplace, and the more aggregate desires humans can satisfy! In this way, inflation is a contradiction to the process of civilization itself. Entropy injected into the market process increases economic scarcity, which only worsens cultural divisiveness, group infighting, and market actor risk-appetites. In sum, central bank induced inflation is a recipe for destroying social cohesion.
Thankfully, there is a new solution to inflation that has been getting a great deal of attention lately. A guy named Satoshi Nakamoto released a project about 13 years ago that keeps getting more and more attention…
Thank you for reading Money is an Attention Allocation Technology (Part 6).
PODCAST
SOCIAL
SUPPORT
Send Bitcoin to my PayNymID: +tightking693
RECOMMENDED BUSINESSES
If you’ve found my work to be valuable, please join our private telegram group: