“People hold money to hedge against future uncertainty. This is why it is so crucial for a monetary system to optimize for minimizing its own uncertainty. Bitcoin’s purchasing power is an external quantitative risk that can be insured against, not an internal qualitative uncertainty.” – Pierre Rochard
Link to the read:
https://pierre-rochard.medium.com/the-utility-of-saving-c56f7c170fc1
Check out Pierre on Twitter:
Dig deeper into these ideas with an excellent piece from Hans Hoppe we covered ages ago on the podcast:
The Yield From Money Held Reconsidered: https://open.spotify.com/episode/67dqOHWLX9NRmAs4S0G9XQ?si=866f483f885a43e0
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