The Bitcoin Standard: The Decentralized Alternative to Central Banking

The essence of temporal salability is soundness; the essence of spatial salability is portability. Prior to Bitcoin, the two were in inescapable tension; economic development induces a market demand for money to be increasingly purely informational, as commerce itself becomes more complex than movement of specie can efficiently support. But informa

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It was a fear of the economic and social upheaval that might be caused by money losing its value that drove Britain to adopt "sound money" policies nearly 300 years ago. This move coincided with an unplanned switch to using gold instead of silver as the basis of money and, ultimately, to the accidental birth of the gold standard. Its &quo

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The essence of temporal salability is soundness; the essence of spatial salability is portability. Prior to Bitcoin, the two were in inescapable tension; economic development induces a market demand for money to be increasingly purely informational, as commerce itself becomes more complex than movement of specie can efficiently support. But informa

... See more