#176 – Robert Breedlove: Philosophy of Bitcoin from First Principles
Lex Fridman Podcast
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What is the Meaning of Life?
Austrian economics defines money as a Universal Medium of exchange. In the configuration of demand for any particular asset, it's bifurcated between its utility and marketability. Money is just going to be the good in any trading economy that has the highest proportion of marketability relative to utility. Boils down to five services that money can render: divisible, durable, portable and scarce.
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