For most of his life, Max Hilleband has been an avid reader of Austrian Economics. So when the El Salvador bitcoin adoption as legal tender was announced, he couldn't help but express his perspective on the praxeological & human action implications.

This episode is sponsored by Vaultoro and Wasabi wallet.

Time stamps:
1:40 – Intro
3:20 – The Austrian School of Economics
04:05 – Why the left-right dichotomy doesn’t make much sense
05:03 – What’s the deal with praxeology and what does it have to do with El Salvador?
10:18 – When is a country ready to adopt bitcoin?
15:00 – Denominating products and services in bitcoin
19:40 – Every country is pretty bad, but some are worse than others
20:05 – Democracy vs monarchy
36:02 – All previous forms of government have failed
40:00 – Choice, opting-out, and opportunity cost
44:50 – First reactions to El Salvador’s decision to adopt bitcoin as legal tender
51:30 – The short-term opportunity costs of adopting bitcoin in El Salvador
57:00 – The unforeseen consequences of adopting bitcoin as legal tender in El Salvador
01:00:00 – Bitcoin revolution vs French Revolution vs American Revolution vs the Bolshevik Revolution
01:05:00 – After bitcoin wins, what’s next?
01:08:30 – Opting out by voting with your feet
01:14:20 – How can we consider and individual’s choices to be truly free in a world where everyone is trying to influence us?
01:23:30 – Keeping Bitcoin censorship-resistant with home mining
01:28:00 – Recommendations for computer operating systems (Qubes, Tails, Debian, Nix Bitcoin)
01:31:20 – NixOS vs Nix Bitcoin
02:32:20 – Reflexive behavior in relation to praxeology
01:39:00 – Schumpeter’s story
01:42:00 – Shitcoiners returning to bitcoin
01:44:00 – We never really had an altcoin (alternative to bitcoin)
01:45:25 – Sidechains & BIP 300 (Drivechains)