3min chapter

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#284 – Saifedean Ammous: Bitcoin, Anarchy, and Austrian Economics

Lex Fridman Podcast

CHAPTER

What Is Hard Money Versus Soft Money?

All commodities other than gold and silver are easy money because they're being consumed. If you started using copper as money, it would make everybody who decides to take part in the salucination poor - that's it. Price of copper is going to go up a lot but what's going to stop copper miners from flooding the market with even more copper? They're going to dump all of that extra copper production. So there will be a lot more copper mining than all the other metals.

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