Shelling Out - The Origins of Money [Nick Szabo]

"If you build a system meant by its very nature to dis-intermediate third parties and exist independent of governments and legal systems, you have...

"Money facilities a system — the economy — that is too complex, too unpredictable and too uncertain to be modeled or reduced to neat...

"if the representation of reality in this article is correct, the highest and best use of a dollar of debt may simply be to...