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BTC Inflation Rate (next 1yr)
1.17%
CASEBITCOIN making the case for bitcoin every day
Bitcoin Marketcap
$1.89T
Gold Marketcap
$16.30T
BTC Settlement Volume (24hr)
$12.90B
BTC Inflation Rate (next 1yr)
1.17%
CASEBITCOIN making the case for bitcoin every day
17 Dec 2002 | | Price when published: (n/a)
Szabo explores the benefits of money to humanity, what problems it solved, and the properties of items that became used as money. He explores this from angles not often seen in standard economics textbooks, starting with the notion of "collectibles" as money, how this rationally solved problems, and evolved into money systems we know today.
Understanding this history makes it clear how well bitcoin fits into the natural evolution of money over the centuries as humanity's core nature doesn't change, but our technology does.
The precursors of money, along with language, enabled early modern humans to solve problems of cooperation that other animals cannot -- including problems of reciprocal altruism, kin altruism, and the mitigation of aggression. These precursors shared with non-fiat currencies very specific characteristics -- they were not merely symbolic or decorative objects.
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