Sublime

obtuse.

Any digital item generated on the Net alone can be reproduced in unlimited quantities. In bitcoin, Satoshi made possible a digital asset that cannot be copied without lots of work, which he called “proof of work.”

One of the fundamental laws of economics is the law of diminishing marginal utility, which means that acquiring more of any good reduces the marginal utility of each extra unit. Money, which is held not for its own sake, but for the sake of being exchanged with other goods, will have its utility diminish slower than any other good, because it can a

Government‐issued unsound money, however, can stall this process, keeping unproductive firms undead but not truly alive, the economic equivalent of zombies or vampires drawing on the resources of the alive and productive firms to produce things of less value than the resources needed to make them. It creates a new societal caste that exists accordi