Sublime

While Bitcoin's scaling will likely require the use of third‐party intermediaries, this will be different from gold settlement in several very important respects. First, the dealings of the third parties will ultimately all be settled on a publicly accessible ledger, allowing for more transparency and auditing. Bitcoin offers the modern individual

Money is not the coins, or the balances, or even the UTXOs, but the consensus around economic behavior and reality these “tokens” capture.

Becker’s economic method involves three ideas: first, that everyone and everything is a maximizing

If, as in a social network, we knew with whom we were dealing in economic exchange, we could perhaps base this communication in the simpler medium of trust than in money. But since we mostly do not, the specific social scalability conferred by money allows for what Szabo calls “trust minimization,” or, “reducing the vulnerability of participants to

Programmable securities, money streaming, and a global buyer of energy of last resort are tremendously exciting. Their growing promise is evidence that Bitcoin is, “not just a digital rock,” to cite an expression frequently utilized by Elizabeth Stark.

Economics