Bitcoin Is Venice: The Merchant Strikes Back

Bitcoin Magazine

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This article is part of a series of adapted excerpts from “Bitcoin Is Venice” by Allen Farrington and Sacha Meyers, which is available for purchase in Bitcoin Magazine’s store now.

You can find the other articles in the series here.

“No intelligent student of modern events can possibly have overlooked the vast change which the last fifty years has wrought on the enhancement of the influence of finance as a social factor overshadowing all other contemporaneous forces, with the exception of religion and love. Contemplating the ceaseless and irresistible advance of the financial power, and the simultaneous weakening of those authorities which base their claims on political predominance, tradition, custom, precedent convention, expediency, and the cognate origins, the philosophic watchman could hardly avoid reflecting that finance must increase, while these must decrease.” — Ellis Powell, “The Evolution of the Money Market 1385–1915”

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