Does money need some alternative utility? Is there an example of virtual money that could be hundreds of years old? Today we read about one of the most interesting analogies to the nature and value of Bitcoin in the piece, "The Island of Stone Money" by Milton Friedman. Made available by the Hoover institute and published in 1991.
Don't forget to check out the huge collection available at the Hoover Institute, including numerous works by Milton Friedman.
https://www.hoover.org/publications/economics-working-papers
https://miltonfriedman.hoover.org/friedman_images/Collections/2016c21/Stanford_02_01_1991.pdf
Other episodes and content mentioned in the show:
Friedman's "Free to Choose" Series - https://www.youtube.com/watch?v=D3N2sNnGwa4
The Triple-Entry Revolution of Bitcoin - https://anchor.fm/thecryptoconomy/episodes/CryptoQuikRead_255---Bitcoin-An-Accounting-Revolution-e473tj
There is no sponsor due to the licensing with this work, if you value what I do with this show, please donate to help keep this project alive! Thanks!
“Trusted third parties are security holes” isn’t just a slogan; it’s a concept that millions of people will have intuitively grasped for the first...
"This was how more mainstream Bitcoin culture degraded from intellectual expressions of ideas (2017-era debates) to tribal recreations of the past. The old enemies...
At the recent Raleigh Bitcoin meetup we had an awesome discussion all about privacy and bitcoin, and the intertwined destinies of both. Hanging out...