Bitcoin: The Inverse of Clown World by Knut Svanholm and Luke de Wolf, published by Lemniscate Media, 175 pages, $25.00.
This review is featured in The Mining Issue of Bitcoin Magazine Print. You can get your copy here.
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This summer’s Bitcoin literature reveals a common theme: a focus on personal growth and spiritual enlightenment. The community appears to have shifted away from discussions about the nature and history of money or the mechanisms of Bitcoin itself.
We are now diving into what life looks like with Bitcoin. The culture surrounding Bitcoin, along with its principles and ethics, directs its users in specific ways. [Aleks] Svetski explores classical virtues that help us thrive under a Bitcoin framework. Mekhail discusses intentional parenting with a long-term, orange perspective. In Bitcoin: The Inverse of Clown World, Knut Svanholm and his podcast partner Luke de Wolf present “a journey of self-reflection and growth” (page 11). This is “a book about you” (page 13), paralleling Mekhail’s ideas on parenting.
This book is both entertaining and profound, offering ample material for contemplation on the absurdities of our reality. The chapter titles are clever, and the content within each chapter is accessible and relatable. If I measure a book’s value by how often I laugh, highlight passages, or share quotes with friends, then Inverse of Clown World scores extremely well. It’s an ideal mix of light-hearted reading and impactful insights, all garnished with a hefty dose of humor.
The appeal of Inverse lies in its exploration of the chaos pervading our society—political theatrics, gender confusion, and a general decline in moral, fiscal, and political integrity—offering a compelling narrative for why this is occurring. The questions arise: Why now? How has this come about? It often feels both irrelevant and absurd.
Svanholm and de Wolf provide an intriguing answer: “When the money ceases to function, everything becomes political and absurd” (page 51). Astoundingly, they contend that moral and political degradation stem from monetary instability.
Diving right into the deep end, the book begins with praxeology—the intricate philosophical basis underpinning Austrian economics. From there, it transitions from advanced concepts in economics and mathematics to cultural references such as Christopher Nolan’s The Dark Knight, drawing connections to reciprocal actions in nature and parallels in human interactions online. It truly spans the spectrum.
After a few pages, it resembles an academic overview of market theories and the well-known game theory model, the prisoner’s dilemma. The authors reveal valuable insights from contemporary discussions surrounding this theoretical scenario: “[economist Robert] Axelrod’s findings highlighted the necessity of being friendly yet forgiving, while also being capable of measured retaliation” (page 19). “Striking the right balance between self-interest and cooperative behavior is vital in the game of life, where choices mold futures” (page 21).
The connection between this and Clown World is somewhat elusive; we have to read nearly fifty pages before we grasp what the authors imply by this term. Nonetheless, if you’re familiar with Svanholm’s previous works or the Bitcoin Infinity Show—or simply haven’t been disconnected from current events for over ten years—you likely have a rough idea.
Some descriptions are broad and sweeping, which is expected when trying to encapsulate something that broadly signifies “all things foolish.” It includes the quest for effortless gains (page 41), the notion that “pleasing bureaucrats has become more lucrative, while offering genuine value to your community is increasingly pointless” (page 50). Clown World is a consequence of political money, “which distracts individuals with trivial concerns” (page 65); in fact, many so-called societal issues aren’t genuine problems at all. Clown World emphasizes equal outcomes (page 101). In contrast, Bitcoin promotes fairness, integrity, and merit. By the book’s conclusion, we learn that “Clown World results from a failure to assume responsibility.” Following this logic, through self-awareness and improved “mental software,” they conclude, “Accepting responsibility for your actions is the only way to make the entire circus disappear” (page 163):
“Success in the Bitcoin space flourishes through providing value to others, not through widespread theft or political maneuvering. Everything Divided by 21 Million equals the antidote to Clown World.”
There’s no doubt in my mind that Clown World is indeed fading away, dragging its most devout followers and remaining, unwilling beneficiaries along as they struggle against the tide. Svanholm and de Wolf seem to agree:
“Bitcoin ATMs will soon appear as absurd as phone booths. […] It’s not just the ATMs that will fall into disuse. Everything from the Jurassic fiat currency realm is on the verge of extinction. Are you a dinosaur or a human being?”
Amid the critique of wokeness and environmental concerns, readers will also find practical advice on filtering out distractions and safeguarding one’s mental well-being. The text includes personal anecdotes of Knut braving the wet streets of Gothenburg, Sweden, and surprisingly in-depth explorations into Einstein’s theories of spacetime and astrophysics. The relevance to Clown World (“our attention shapes our realities,” page 113) could have been established without such extravagant detours.
Thoughtful reflections on creativity, stoicism, and the interplay between freedom and responsibility are also woven throughout. It’s asserted that “any small step you take to enhance your personal freedom footprint elevates the overall level of freedom dioxide in our atmosphere” (page 133).
Why is this book worth your time? The answer is straightforward: It features Knut, is filled with humor, and can be quite motivating at times.
Highlighted quotes:
- “When individuals understand enough about Bitcoin to cease worrying about their financial prospects, they tend to care less about others’ perceptions of their words and actions and more about sincerity and integrity” (page 53).
- “In a context where the right pronouns, teenage climate activists, last night’s big event, Taylor Swift’s latest relationship, and a mostly benign flu dominate headlines, it becomes obvious that a force is working to divert our attention from those orchestrating these distractions” (pages 24-25).
- “Absurd political ideologies have existed as long as politics itself. They manifest in various forms, making it challenging to recognize their ridiculousness while immersed in them” (page 36).
Final thought:
“You’re a champion if you’ve accumulated one more Satoshi this year than last. Broaden your perspective and stay patient. Sell your chairs, dismantle your idols, and take accountability for your actions” (page 63).
Disclaimer: The views expressed are solely those of the author and do not necessarily reflect the beliefs of BTC Inc or Bitcoin Magazine.
