ECON135: What Is Money?

The discussion in this video covers the impacts of Bitcoin that are often missed in the broader global conversation: the dematerialization of various functions and systems in society. Saylor and Breedlove explore the transition from analog to digital monetary systems and how Bitcoin is transforming the roles of accountants, auditors, compliance officers, IT professionals, and human resources. You will encounter the concept of Bitcoin as an apex property and highlight its self-security and non-locality attributes, which discourage violence compared to physical property. From there, you will explore even more industries that dematerialization continues to impact: traditional banking, government, police, and military functions, showcasing how Bitcoin serves as a multinational money network and a potential tool for settling geopolitical disputes peacefully. Finally, they discuss the proof-of-work model, capitalism's alignment with nature, and Bitcoin's adaptivity and self-correction mechanisms, positioning Bitcoin as a cybernetic life form that embodies the principles of thermodynamic conservatism.