The Complete Bitcoin Investment Course

Learn the quantity theory of money, where money supply times velocity equals price level times transactions. Inflation arises when money supply grows faster than production, i.e., debasement.

Explore how increased production of money leads to debasement, illustrated by stock-to-flow concepts and gold examples, and why higher productivity makes this the least harmful form of debasement.

Technology can debase money by mass producing forms, breaking stock to flow ratio, as cowrie shells, beads, and salt were demonetized while gold became the preferred money.

Examine how the state debases currency, not money, by minting coins, altering weight and purity, to fund spending through inflation.

Explore why sound money preserves purchasing power and why hard money resists debasement. Compare government paper currency as unsound money to gold as historically sound money.

Explain how gold's salability improved through layer two innovations, coins and IOUs, reducing transmission costs and enabling scalable, time- and space-efficient money transfers via goldsmiths.

Learn how gold-backed IOUs improve money by enabling transferability without increasing the money supply, using a 100% gold reserve to preserve a 10% claim on productive capacity.

Explore how proto banks facilitated lending between individuals, with goldsmiths as mediators, earning fees while lenders bear risk and the money supply remains unchanged.

Examine executive order 6102 during the Great Depression, forcing gold surrender to the Federal Reserve and the Gold Reserve Act that devalued the dollar, underscoring private property and natural rights.

Bretton Woods established a fixed exchange rate system with dollars backed by gold and reserves, creating the IMF and World Bank to support global cooperation, reconstruction, and development loans.

Discover how bonds represent borrowing and lending, with face value, interest, and repayment. Learn that the US government borrows money, while the Federal Reserve creates money under fiat standards.

The state borrows by issuing treasuries—bills, notes, and bonds—to fund deficits. The Federal Reserve creates money and buys these treasuries from banks, balancing its balance sheet.

Explore the credit theory of money, viewing money as credit issued by governments, recorded on ledgers, and backed by work, not by commodities alone.

Explore in the complete bitcoin investment course how the fiat regime and this form of money affect individuals and society, and why the overall impact matters more than money theory.

Discover how fiat money enables central planning and malinvestments, and why market-led resource allocation often outperforms state-led decisions in driving growth.

Analyze how fiat money imposes resource costs through central banks, inflation management, and financial intermediaries, and why preserving buying power—like gold—requires investment.

Explores how fiat money depreciates and becomes perishable, driving a short-term based society with a high time preference, and shaping self-worth and the value of work.

Examine how centralized money and state power threaten freedom and sovereignty, eroding private property and the social contract, as emergency measures reveal money as a tool of control.

Explore what bitcoin is and the money problems it solves, from fiat inflation to a decentralized network. See how Satoshi Nakamoto's Bitcoin challenges state control amid the 2008 financial crisis.

Identify the properties of ideal money and how Bitcoin maximizes them, while noting how Satoshi addresses limitations seen in gold.

Satoshi's monetary purity designs bitcoin to have no utility beyond money, creating value driven solely by supply and demand, with extreme divisibility, portability, and durability.

Explain verifiability as a property of money that provides cheap, instant verification of authenticity, avoiding gold's faking risks and offering a 100% real-money guarantee.

Explore the shift from centralized ledgers controlled by banks to a decentralized, digital network where every participant holds a full ledger and broadcasts transactions, enabling partially permissionless, peer-to-peer money.

Trace the transaction chain from inputs and outputs to ownership, signatures, and spent outputs, and learn that bitcoins are a unit of measurement tied to private keys, not physical coins.

Fund your exchange account to buy bitcoin and transfer it to your self-custody Blue Wallet. Understand private keys, seeds, and counterparty risk when moving funds from exchange to your wallet.

Learn how private keys, public keys, and signatures prevent double spending in Bitcoin's decentralized network, and how the blockchain resolves conflicting transactions.

Explore how blocks link by hash, with each block containing the previous block's imprint. Mining with the nonce and sha256 creates an immutable, verifiable ledger.

Explore how the difficulty adjustment algorithm maintains a ten-minute block time and steady bitcoin issuance, while the halving and 21 million cap govern rewards and supply.

Explore the balance of power among Bitcoin’s nodes, miners, and developers, and how blocks are proposed and accepted or rejected through proof of work in a decentralized, adversarial system.

Bitcoin's hardness comes from needing to convince everyone across diverse communities to adopt changes, making updates slow, controversial, and driven by activation blocks and forks.