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b"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 \\u2013 Intro 3:20 \\u2013 The Austrian School of Economics 04:05 \\u2013 Why the left-right dichotomy doesn\\u2019t make much sense 05:03 \\u2013 What\\u2019s the deal with praxeology and what does it have to do with El Salvador? 10:18 \\u2013 When is a country ready to adopt bitcoin? 15:00 \\u2013 Denominating products and services in bitcoin 19:40 \\u2013 Every country is pretty bad, but some are worse than others 20:05 \\u2013 Democracy vs monarchy 36:02 \\u2013 All previous forms of government have failed 40:00 \\u2013 Choice, opting-out, and opportunity cost 44:50 \\u2013 First reactions to El Salvador\\u2019s decision to adopt bitcoin as legal tender 51:30 \\u2013 The short-term opportunity costs of adopting bitcoin in El Salvador 57:00 \\u2013 The unforeseen consequences of adopting bitcoin as legal tender in El Salvador 01:00:00 \\u2013 Bitcoin revolution vs French Revolution vs American Revolution vs the Bolshevik Revolution 01:05:00 \\u2013 After bitcoin wins, what\\u2019s next? 01:08:30 \\u2013 Opting out by voting with your feet 01:14:20 \\u2013 How can we consider and individual\\u2019s choices to be truly free in a world where everyone is trying to influence us? 01:23:30 \\u2013 Keeping Bitcoin censorship-resistant with home mining 01:28:00 \\u2013 Recommendations for computer operating systems (Qubes, Tails, Debian, Nix Bitcoin) 01:31:20 \\u2013 NixOS vs Nix Bitcoin 02:32:20 \\u2013 Reflexive behavior in relation to praxeology 01:39:00 \\u2013 Schumpeter\\u2019s story 01:42:00 \\u2013 Shitcoiners returning to bitcoin 01:44:00 \\u2013 We never really had an altcoin (alternative to bitcoin) 01:45:25 \\u2013 Sidechains & BIP 300 (Drivechains)"