Philosophy & Economics
What money is, why scarcity matters, and how Bitcoin aligns incentives.
First Principles
- Money solves barter problems (coincidence of wants).
- Good money is scarce, durable, portable, divisible, and verifiable.
- Rules without rulers: property rights by math.
Core Economics
- Scarcity: fixed supply (21M) resists inflation.
- Incentives: miners secure blocks; users verify.
- Time preference: sound money encourages saving and long-term thinking. This is arguably the most important economic concept for understanding why Bitcoin matters.
→ Deep Dive: Time Preference Fundamentals
🏛️ Austrian Economics & Bitcoin
The Austrian School of Economics (Mises, Hayek, Rothbard) provides the theoretical foundation for understanding Bitcoin's revolutionary design.
- Time Preference: How the type of money shapes civilization's time horizon
- Sound Money Theory: What makes money "hard" and why it matters
- Economic Calculation: Why decentralized systems outperform central planning
- Praxeology: The science of human action and voluntary exchange
Ethics & Sovereignty
- Censorship resistance: no central switch.
- Custody: hold your own keys; no permission required.
- Open access: anyone can join and verify.