Bitcoin Is Venice: Essays on the Past and Future of Capitalism

That Bitcoin can potentially be considered concordant with the teachings of Islamic finance is an insight we owe to conversation with Saifedean Ammous. What we mean by this is since bitcoin is a digital bearer asset and not a debt instrument, its natural state of safe custody is outside financial institutions.

Currently, the customers of content creators are not consumers but advertisers, and the customers of advertisers are consumers.

Sellers will, therefore, decide to increase their prices for one of two reasons: (1) their own costs have increased and they can no longer make the desired profit or return otherwise, or (2) customers start to buy faster, such that inventory is depleted before it can be replaced, suggesting that more potential customers exist than can be serviced a

As Menger put it in, Principles of Economics, probably still the best theoretical introduction to economics, Value is thus nothing inherent in goods, no property of them, nor an independent thing existing by itself. It is a judgment economizing men make about the importance of the goods at their disposal for the maintenance of their lives and well-

If we had to pick a moment in time in which we entered the final stages of degenerate fiat “capitalism,” we would likely pick March 2020, when it seemed very much as if the everything bubble had popped.

To view Bitcoin solely through the lens of economics, say, or cryptography is to miss the forest for the trees. Bitcoin lies at the intersection of, at the very least, these two, as well as financial theory, history, political philosophy, theoretical computer science, distributed systems theory, game theory, and network and protocol design.

Starting in the 1960s, Hollywood was largely responsible for the spread of Eastern martial arts to a Western audience.

Languages change and evolve organically. But it is perhaps paradoxically necessarily that languages must remain mostly unchanging — mostly common between their speakers — such that change can be recognized and contextualized, rather than simply disorienting.

The environmental record of the Soviet Union, for example, is nothing short of catastrophic. Readers may be unaware that the Aral Sea, once the fourth largest lake in the world, literally disappeared under the USSR’s incompetent industrial policy.