“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

The full, unabridged reading of Lyn Alden’s excellent breakdown of the question that marks the beginning of the Bitcoin Rabbit Hole, “What is Money, Anyway?”

Link to Lyn Alden’s piece and the incredible other work she has on her blog:

https://www.lynalden.com/what-is-money/

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