Hosted By
The brilliance of the price system is in coordinating the values, deeply limited knowledge and scarce resources precisely to their highest value need without having to understand or be aware of every single change in supply, alternatives, and uses of those resources among the economic participants. It is specifically because we only receive the most important piece of information, its new value in relation to other things (the price), that we can so quickly align ourselves with the new state of the world. Don't miss the conclusion of Hayek's work, "The Use of Knowledge in Society."
Visit the full piece, and the collection of other great work, economic analysis, news, & more over at fee.org.
https://fee.org/articles/the-use-of-knowledge-in-society/#0
Bitcoiners having babies, P2P protocols, Bitcoin price without third parties, mining problems and solutions, stable coins coming back to Bitcoin, massive hacks, shitcoin quacks,...
"Bitcoin staked to Lightning is the most unique income producing asset in all of monetary history: income with zero counterparty risk. The historical implications...
“On April 25, 2018, I anonymously and privately disclosed a critical vulnerability in Bitcoin Cash, one of the world’s most valuable cryptocurrencies…” - Cory...
![CryptoQuikRead_251 - Use of Knowledge in Society [Part 2 - F. A. Hayek]](https://episodes.castos.com/6626b866f2af87-36468692/images/1741365/c1a-9mg94-1xnz0nd7bopn-fantpk.jpg)