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#284 – Saifedean Ammous: Bitcoin, Anarchy, and Austrian Economics
Lex Fridman Podcast
The Gold Standard
In the bidcoin standard, i present the argument that money is always whatever is the hardest thing to make. So for instance, in prison, people use cigarettes as money because nobody can make cigarettes in prison. In societies, we have the example of yap island, which doesn't have any limestone but has a lot of limestone. Glass beads were money in west africa where there was no glass making technology and they were very hard to make. Sea shells, rare sea shells that are not easy to find and u serving as money in places where they're rare. But what's more important is just a natural evolutionary process whereby people choose all kinds of random things as money - bananas maybe even
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