Bitcoin and the sweat of our brow
I saw a lot of people surprised this weekend after the Brazilian fighter Renato Moicano, still very breathless, with his face all swollen and bloody, after emerging victorious from the difficult fight at UFC300, managed to gather his strength, grabbed the microphone from Joe Rogan's hand and In his victory speech he said:
“First off all I love America. I love the Constitution. I love the First Amendment. I want to carry all the fucking guns. I love private property. And let me tell you something: If you care about your fucking country, read Ludwig von Mises and the six lessons of the Austrian economic school, motherfuckers!”
In a world long sick of Keynesianism and fiat currency, it is not very common to hear someone recommend reading Mises in a fighting ring, even less common when the mysterious “six lessons” of the Austrian school of economics are cited.
By 'six lessons from the Austrian economic school', Moicano was referring to a small book by Ludwig von Mises, just over a hundred pages long, which in English was titled Economic Policy: Thoughts for Today and Tomorrow, which is why many Americans did not quickly understand the reference.
The lessons are transcriptions of a series of lectures given by Mises at the University of Buenos Aires in 1959, which is why the title of the Brazilian version simply translates as “The Six Lessons”, which can be downloaded for free here.
Moicano's recommendation was not merely theoretical. On his Twitter/X page and recent interviews, the fighter shows that he is not only well versed in the Austrian economy but also a bit of a bitcoiner. He even demanded that his bonus be paid in Bitcoin:
Especially after the publication of The Bitcoin Standard, the relationship between the Austrian school and Bitcoin is already well known and debated, but I believe there is something deeper in the relationship between physical suffering and strong currency. Moicano literally earns his living by the sweat of his brow and knows that it is deeply unfair for someone to be able to create money at no cost. In a 2021 article, I explored why fighters, weightlifters, and athletes in general began demanding to be paid in Bitcoin. I tried to explain how the principle of no pain, no gain should also apply to the currency we use. In this article I wrote:
“A recent phenomenon has caught my attention. We are seeing several American football players who are now demanding to be paid in Bitcoin. Why? They know very well what it's like to be beaten to earn a living. They don’t want to see their salaries turn to dust because of inflation.”
I am very happy that Renato Moicano's message has resonated throughout the world. I hope that with it more people can learn Mises' precious lessons and also about the virtues of Bitcoin.