ECON135: What Is Money?

In this video, Saylor and Breedlove explore the concept of money as tokenized sociopolitical energy and highlight Bitcoin as the first digital form of it. They discuss the ideal qualities of money, emphasizing its role as the apex property and the transition from political to engineered money. They thoroughly examine the limitations of the gold standard, including issues with custody, susceptibility to manipulation, transportation challenges, limited divisibility, and other dangers associated with physical gold. Be ready to explore the concept of final vs. deferred settlement and highlight the benefits of immediate settlement offered by Bitcoin. We conclude the session by analyzing the performance of gold versus Bitcoin and discussing the importance of adaptability and survival in a Darwinian world, suggesting that Bitcoin's resilience positions it favorably for the future.