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November 4, 2025 39 mins

The Fiat Standard Lecture 17: Bitcoin Cost-Benefit Analysis explores bitcoin as an electricity-based savings tool, how the value stored exceeds security costs, and why declining supply growth increases monetary efficiency compared to fiat debasement.

You can buy the hardcover, ebook or audiobook in several languages on saifedean.com/TFS, where you can also find the full lecture notes available for free download.

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