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The Philosophy of Money with Andrew Bailey — What Bitcoin Did

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Andrew Bailey is a philosopher, professor, fellow of the Bitcoin Policy Institute, and co-founder of Resistance Money. In this interview, we discuss the philosophy of money in terms of what money is, what makes good money, the traps money can fall into, and why Bitcoin is the bulldozer that makes us rethink money. increase.

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Economists, historians, philosophers, bankers, and politicians have all struggled with the concept of money. There are myriad theories about what it is, what it can be, what it doesn’t do, what it does, how it should be used, how it can be misused. There are a myriad of questions to deny. Consensus has formed around various ideas that have lasted for generations, followed by abrupt shifts as perceived universal truths dissolve.

Discussions and evolving ideas about money have always been a feature of its existence, and certainly within the modern capitalist structure of the past few hundred years. We are entering a new money paradigm when established norms are suddenly being uprooted. Second, ordinary people are joining the ranks of the so-called experts in the discussion of money.

This change has been hampered by fiat currency failures. Suddenly people find that the supposedly solid ground is changing beneath them. In a short period of time, a series of unprecedented events occurred. Bank runs, massive money printing, massive stimulus, massive market volatility, systemic inflation, currency collapse.

This argument was also dismissed by Bitcoin’s revolutionary innovation. An entirely new form of money has allowed a reassessment of the principles and nature of what we use to store value and what we use to exchange value. If Bitcoin can continue to thrive, it will act as a check against those in power. For the first time money can become pluralistic.

All this means that we live in a time when money discussions are lively and fluid. Buying Bitcoin, developing Bitcoin, and pilling orange are all positive actions that force us to consider these fundamental questions. And in the process, we find ourselves asking the most fundamental questions – what is the essence of a good life, and how can money help us achieve that goal?

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