Sublime

We should try not to think in percentages. When the data is presented to us in percentages (for example, 1 percent of assets under management), we should do the extra work and figure out how much money is really on the line. The money in our pocket is tangible; it exists in absolutes—$100 is $100.

Economics

As someone who is frugal, I’m jealous of how the French are intricately careful with their spending. Money is never handed over until it’s absolutely necessary. Americans are ready and willing when it’s time to pay; we’ve got our credit cards out of our wallets even before the cashier has finished ringing up our order.

Money is the minimal information that captures the social truth of the value of time and energy.

Mining is two coupled markets for settlement and security; transaction fees are users’ bids for settlement rights; and the mempool is the miners’ ask for ordering transactions by offered fees. Similarly, hashes are miners’ bids for the right to add the next block, and the difficulty adjustment is the users’ asks for how much security they desire to

This is because money is so abstract and general that we have a hard time imagining opportunity costs or taking them into account. Basically, nothing specific comes to mind when we spend money except the thing we’re contemplating buying.