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What is Money Anyway? Part 2

“To put it into perspective, this international monetary system based around centrally-managed fiat currency is only 16 years older than me. My father was 36 when the US went off the gold standard. When I grew up, after a period of financial hardship, I began collecting gold and silver coins as a kid; my father gave me silver coins as savings each year.

The Swiss dropped their gold standard when I was twelve years old, which was six years after Amazon was founded, and three years before Tesla was founded. The fiat/petrodollar standard is only four times older than bitcoin, and only two times older than the first internet browser. That’s pretty recent when you think about it like that.” – Lyn Alden

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What is Money Anyway? Part 1

“If a money (the most salable good) is easy to create more of, then any rational economic actor would just go out and create more money for herself, diluting the whole supply of it. If an asset has a monetary premium on top of its pure utility value, then it’s strongly incentivizing market participants to try to make more of it, and so only the forms of money that are the most resistant to debasement can withstand this challenge.” – Lyn Alden

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Bitcoin Information Theory B.I.T

“A deflationary monetary system of absolute hard money acts as a mirror for value creation. It is a compass to guide us toward a better economic path.” – Aaron Segal

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Analyzing Bitcoin’s Network Effect

“A network effect is an attribute of a company or other system such that as more people use the network, the network becomes exponentially more valuable for each user. It’s one of the strongest economic moats that a system can have against competitors.” – Lyn Alden

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Bitcoin Mining & the Case for More Energy

“All this to say, there is no optimistic version of the future in which humanity does not use significantly more energy than it does today.” – Hodl’n Caulfield & Selene Lindstrom

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Why Bitcoin, The Series – Part 1

“For those with the curiosity to look, Bitcoin has emerged as a vast and mysterious space to explore with treasures, dangers, and untold potential.” – Tomer Strolight

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The Humanitarian & Environmental Case for Bitcoin

“If there is ever competition for the energy that the Bitcoin miners are buying, the miners turn off their machines, perhaps to turn them back on later in a real-time response to grid loads. This relationship is poorly understood by many, leading to a popular but incorrect assumption that Bitcoin is “wasting” energy that could be used for other projects.” – Alex Gladstein

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Why Anthropologists are More Interested in Bitcoin than Economists

“At the core of economists’ fallacy is the belief that money is money by decree (because the state and its expert economists say so), which means they don’t fully recognize the power held by people’s collective decisions.” – Mick Morucci

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Privacy, Fungibility, Anonymity

“Technologies of anonymous communication, anonymous currency, and reputation systems have been invented. They cannot be un-invented. These are all the ingredients needed to build a circular economy with strong privacy in cyber-space” – NoPara73

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PART 2: The Inflation/Deflation Debate

“deflation is the natural order of a productive economy. If we were using a hard money standard like gold, for example, we would expect products to get cheaper over time relative to the value of our golden money, thanks to technological and productivity improvements over time, which make them cheaper relative to the number of labor hours required to produce them.” – Lyn Alden

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