The most important article on bitcoin ever written
The problem of society is the optimal distribution of commodities.
In order to do this we need a stable (in relation to an objective metric of value and over long periods of time) pricing mechanism.
We use money to provide this mechanism (ie pricing things in USD), but historically money has not been stable over long periods of time in relation to an objective metric of value.
Roger Ver Gavin and big blocker’s attempts to scale bitcoin to become a world currency do not serve as a solution to this problem.
They are unaware the problem exists, and their arguments do not speak to it.
They have never read a book on economics and do not know that there is no founded argument that a money has a purpose other than providing a stable metric of value for our markets.
That a money can serve as an efficient transfer of wealth is not in and of itself a rational goal to achieve-it serves no valuable purpose.