Sublime

Saifedean Ammous’s book The Bitcoin Standard,

In the aggregate, demand for money will likely vary only with variance in time preference.

money is the market good with the least diminishing marginal utility.

Relative stability of value is not just important to preserve the purchasing power of holders' savings, it is arguably more important for preserving the integrity of the monetary unit as a unit of account. When money is predictably stable in value due to the small variation in supply and demand, it can act as a reliable signal for changes in prices

The constantly increasing supply means a continuous devaluation of the currency, expropriating the wealth of the holders to benefit those who print the currency, and those who receive it earliest.

That Bitcoin can potentially be considered concordant with the teachings of Islamic finance is an insight we owe to conversation with Saifedean Ammous. What we mean by this is since bitcoin is a digital bearer asset and not a debt instrument, its natural state of safe custody is outside financial institutions.

Davidson and Rees‐Mogg predict with remarkable prescience the form that the new digital monetary escape hatch will take: cryptographically secured forms of money independent of all physical restrictions that cannot be stopped or confiscated by government authorities.