Part III — Bitcoin’s 10x Advantage Over Gold Might Not Lie Where You Think

TLDR: This is a multi-part series about the many ways in which Bitcoin is such a unique, inter-disciplinary, and inter-temporal technology. The third part touches on an overlooked advantage of Bitcoin over other traditional forms of commodity money, including gold.

I have been thinking for a while about why sound money survived for thousands of years but was quickly killed in the age of nation-states. When I bumped into this insightful tweet from Nick Szabo the reasons became clear to me. As we will see below, the points he makes are extremely important to understand Bitcoin’s advantages over gold. …


Part II — MoE As a Unique Type of Economic Good

TLDR: This is a multi-part series about the many ways in which Bitcoin is such a unique, inter-disciplinary, and fascinating technology. The second part touches on the work of economists Ludwig von Mises and Murray Rothbard to show how media of exchange — a superset of money — are a unique type of economic good.

Vijay Boyapati in his compelling The Bullish Case for Bitcoin argues that Bitcoin is different in that it falls “into an entirely different category of goods, known as monetary goods, whose value is set game-theoretically”. …


Part I — Governance by Laws Without Legislation

TLDR: This is a multi-part series about the many ways in which Bitcoin is such a unique, inter-disciplinary, and fascinating technology. This first text shows how at the very core of its governance model Bitcoin is different from all other so-called cryptocurrency projects. The work of the Italian political philosopher Bruno Leoni is used to show that this model lies at the core of some of the most successful institutions developed by western civilization but that have unfortunately been overlooked in recent times.

Institutions Versus Organizations

Carl Menger, the founder of the Austrian school of economics, is a remarkably popular economist in crypto twitter because Bitcoin builds on so many of his ideas. One of Menger’s overlooked insights is that in his treatise On The Origins of Money he lays out not only a framework of how money can emerge independently of a central authority but also, by extension, a comprehensive economic theory of social institutions.

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