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186. Bitcoin: The Future of Money? | Bitcoiner Book Club
The Jordan B. Peterson Podcast
The Problem With Money
Gold was selected on the market because there was sacrifice necessary to obtain gold you had to expend time and energy to dig it out of the ground. Gold is excellent at holding value across time but metals are pretty poor especially for a globalizing society at expressing value across space. Paper currency introduced by abstract acting gold into a paper currency we could now increase its transactability across space so long as it was redeemable one unit of currency for one ounce of gold for instance then it maintained its ability to express value across time, he says.
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