61. Why bitcoin can’t be controlled by councils
The Bitcoin Standard Podcast
00:00
What Is Mud Value in Austrian Economics?
Dean Obeidallah: Bitcoin miners should have read Austrian economics. He says value is in the mind of the beholder, not generated through the work of the producer. If you spend 10 hours baking a mud pie, how much is that mud pie worth? It doesn't matter if it's made with time or money, he says. A lot of people in computer science and mainstream economics miss this aspect of it,Obeidallah says.
Transcript
Play full episode
