Satoshi was so badass (h/t @Martti Malmi):
Historically, people have taken up scarce commodities as money, if
necessary taking up whatever is at hand, such as shells or stones. Each
has a kernel of usefulness that helped bootstrap the process, but the
monetary value ends up being much more than the functional value alone.
Most of the value comes from the value that others place in it. Gold,
for instance, is pretty, non-corrosive and easily malleable, but most of
its value is clearly not from that. Brass is shiny and similar in
colour. The vast majority of gold sits unused in vaults, owned by
governments that could care less about its prettiness.
Until now, no scarce commodity that can be traded over a communications
channel without a trusted third party has been available. If there is a
desire to take up a form of money that can be traded over the Internet
without a TTP, then now that is possible.
Satoshi
’could care less’ sad he's definitely not English!
I thought the same thing. His mannerisms strike me as very North American English. Yet another nail in the coffin for Craig.
Sounds American reading the new emails
I agree.
One fundamental thing about gold that must be included when talking about its property is its supreme durability. It’s essentially indestructible and non-corrosive, which allows its stock to flow ratio to be very large.
Bitcoin has a higher stock to flow ratio after the halving of course. But they’re similar use cases to the same problem: monetary debasement.
Analogue vs Digital. Both will remain relevant
Legend because of his creation.
The considerations about gold and money belong to Carl Menger, The origins of money, founder of the Austrian School
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