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It is often difficult for people new to Bitcoin to grasp the enormous innovation that it represents. A lot of background education that most people do not have is needed for someone to begin to grok what reinventing money really means. Eric Yakes, Author of the 7th Property: Bitcoin and The Monetary Revolution, wrote 4 fantastic articles for Bitcoin Magazine breaking down the foundations of money in society and why Bitcoin is the best money ever invented.
Host Christian Keroles sat down with Eric to discuss the four articles one by one and reflect on what money is and what Bitcoin could mean for society. The first article, The Dimensions of Money, focuses on what money is, how it works and what makes a good money. It is important for people to understand that money is a good or a product and that different properties make a monetary good ideal. According to Yakes, money helps society transfer value across time, space and scales. This is realized in the properties of scarcity, durability, acceptability, portability, divisibility and fungibility. According to Yakes, Bitcoin fulfills these roles better than anything we have ever had before serving as money.
Articles two through four focus on why Bitcoin makes the world a better place, how it works today and into the future. Yakes has a very historical approach to defining the problem set that Bitcoin was invented to solve and illustrating how Bitcoin is a novel and valuable solution to this historic problem that has affected every human on earth.
This is the perfect podcast to give to your bitcoin curious friend that needs a bit more understanding to fully take the orange pill! Please enjoy this show and all of Yakes’ fantastic articles.
Part 2: What Bitcoin Does that Changes the World.
Part 3: The Fundamental of How Bitcoin Works.
Part 4: The Monetary Properties of Bitcoin.
Follow Erik on Twitter @ericyakes and his author page on Bitcoin Magazine.
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Author: Bitcoin Magazine