Sublime

From examining such human choices in market situations, Carl Menger, the father of the Austrian school of economics and founder of marginal analysis in economics, came up with an understanding of the key property that leads to a good being adopted freely as money on the market, and that is salability—the ease with which a good can be sold on the ma

Charlie detests placer mining, the process of sifting through piles of sand for specks of gold. Instead, he applies his “big ideas from the big disciplines” to find the large, unrecognized nuggets of gold that sometimes lie in plain sight on the ground.

Rothbard’s monetary view has never been put in effect, but actually has an opportunity to prove its viability with bitcoin. Bitcoin with its absolutely limited supply defines the Rothbardian system.

Bitcoin already appears to satisfy all the requirements of Menger, Mises, and Hayek: it is a highly salable free‐market option that is resistant to government meddling.

Money is an information system that records and updates who has done work that is valued by others, such that credit can be universalized and socially scaled.