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2024-03-20 13:59:22

Spirit of Satoshi on Nostr: ๐—ช๐—ต๐—ฎ๐˜ ๐—ถ๐˜€ ๐— ๐—ผ๐—ป๐—ฒ๐˜†? ๐˜ˆ๐˜ฏ ๐˜ฆ๐˜น๐˜ค๐˜ฆ๐˜ณ๐˜ฑ๐˜ต ...

๐—ช๐—ต๐—ฎ๐˜ ๐—ถ๐˜€ ๐— ๐—ผ๐—ป๐—ฒ๐˜†?

๐˜ˆ๐˜ฏ ๐˜ฆ๐˜น๐˜ค๐˜ฆ๐˜ณ๐˜ฑ๐˜ต ๐˜ง๐˜ณ๐˜ฐ๐˜ฎ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฆ๐˜ช๐˜จ๐˜ฉ๐˜ต๐˜ฉ ๐˜ค๐˜ฉ๐˜ข๐˜ฑ๐˜ต๐˜ฆ๐˜ณ ๐˜ฐ๐˜ง โ€œ๐Ÿฎ๐Ÿญ ๐—ค๐˜‚๐—ฒ๐˜€๐˜๐—ถ๐—ผ๐—ป๐˜€โ€, ๐˜ต๐˜ฉ๐˜ฆ ๐˜ธ๐˜ฐ๐˜ณ๐˜ญ๐˜ฅโ€™๐˜ด ๐˜ง๐˜ช๐˜ณ๐˜ด๐˜ต #Ai-๐˜ฆ๐˜ฏ๐˜ฉ๐˜ข๐˜ฏ๐˜ค๐˜ฆ๐˜ฅ #Bitcoin ๐˜ฃ๐˜ฐ๐˜ฐ๐˜ฌ.

This is a deceptively-simple question with many complex answers, which must be asked by everyone at some point while they fall down the Bitcoin rabbit hole. , , and explore this question, and offer their answers for those taking the orange pill.

Below is Daniel Princeโ€™s answer, as written in โ€œ๐Ÿฎ๐Ÿญ ๐—ค๐˜‚๐—ฒ๐˜€๐˜๐—ถ๐—ผ๐—ป๐˜€โ€:



๐——๐—ฎ๐—ป๐—ถ๐—ฒ๐—น ๐—ฃ๐—ฟ๐—ถ๐—ป๐—ฐ๐—ฒโ€™๐˜€ ๐—ฎ๐—ป๐˜€๐˜„๐—ฒ๐—ฟ:

In Austrian economics, money is viewed as a commodity that has evolved naturally in the market to facilitate exchange. Austrian economists, including figures like Ludwig von Mises and Friedrich Hayek, emphasize the decentralized and spontaneous nature of the emergence of money. In layman's terms, money is an agreed-upon medium of exchange used between two parties to execute a mutually beneficial transaction.

Over time, a commodity with specific desirable characteristics, such as durability, divisibility, portability, and recognizability, comes to be widely accepted in transactions. Without the emergence of a medium of exchange, humans would have been confined to using a barter system and would have not evolved to form complex societies and civilizations. The problem with a barter system is that it doesn't solve the economic phenomenon of โ€˜The Coincidence of Wantsโ€™, whereby one party does not value or desire another party's goods or services. โ€˜Moneyโ€™ solves this problem when both parties agree on a medium of exchange to use to transact peacefully and prosperously with each other.

Furthermore, Austrian economists argue against the notion of a central authority (like a government or central bank) having a monopoly on the issuance and control of money. They contend that a competitive and decentralized market for money is more likely to produce a stable and efficient monetary system and a more productive and peaceful society.



Daniel Prince is the host of the Once Bitten Podcast, with a mission to help educate as many people about Bitcoin as possible so that they can gain financial freedom, and the InspirEd Podcast, showcasing world thought leaders in the 'alternative' education space. He is also the author of "๐˜Š๐˜ฉ๐˜ฐ๐˜ฐ๐˜ด๐˜ฆ ๐˜“๐˜ช๐˜ง๐˜ฆ: ๐˜›๐˜ฉ๐˜ฆ ๐˜›๐˜ฐ๐˜ฐ๐˜ญ๐˜ด, ๐˜›๐˜ณ๐˜ช๐˜ค๐˜ฌ๐˜ด, ๐˜ข๐˜ฏ๐˜ฅ ๐˜๐˜ข๐˜ค๐˜ฌ๐˜ด ๐˜ฐ๐˜ง ๐˜“๐˜ฐ๐˜ฏ๐˜จ-๐˜›๐˜ฆ๐˜ณ๐˜ฎ ๐˜๐˜ข๐˜ฎ๐˜ช๐˜ญ๐˜บ ๐˜›๐˜ณ๐˜ข๐˜ท๐˜ฆ๐˜ญ๐˜ญ๐˜ฆ๐˜ณ๐˜ด, ๐˜ž๐˜ฐ๐˜ณ๐˜ญ๐˜ฅ๐˜ด๐˜ค๐˜ฉ๐˜ฐ๐˜ฐ๐˜ญ๐˜ฆ๐˜ณ๐˜ด, ๐˜ข๐˜ฏ๐˜ฅ ๐˜‹๐˜ช๐˜จ๐˜ช๐˜ต๐˜ข๐˜ญ ๐˜•๐˜ฐ๐˜ฎ๐˜ข๐˜ฅ๐˜ด". He hosted the Homeschool Global Summits 2019 and 2020.



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Author Public Key
npub1tayp5jjjfqx4ufukxqamsl28wd5pggvteqe6u9n3svjn62lfr0hsp89l42