Chapter 3 – and I am sure others – anthropomorphize ‘government’ and as such any discussion about the ‘actions’ of government necessarily stays vacuous. While I understand the desire not to go into the history, to say anything of meaning, the actual actors must be identified.

The chapter is strong on the utilitarian end, but is missing much of the ‘belief’ site of what humans value, and which ends up determining most of the normalization through a marketplace (price).

Beliefs are largely created via social engineering both paid and unpaid. While the former is offered by for-profit corporations, the latter is…

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It’s simple: the unit of account for bitcoin (lower case for the mining reward; upper-case ‘B’ for the network) is usually $. — https://hackernoon.com/explaining-bitcoin-and-money-to-third-graders-economists-and-bureaucrats-96y349h

Some basic thoughts on why Bitcoin is not “money” — https://hackernoon.com/explaining-bitcoin-and-money-to-third-graders-economists-and-bureaucrats-96y349h

I am consistently confused about the use of ‘medium of exchange’ (Moe) in various literature where it is used to differentiate fiat and other form of currencies. My position is that today the default MoE is just bytes, and in this regards BTC is the same as most fiat most of the time. – What am I missing?