#Austrian Economics

The Bitcoin Standard

by Saifedean Ammous

When a pseudonymous programmer introduced "a new electronic cash system that's fully peer-to-peer, with no trusted third party" to a small online mailing list in 2008, very few paid attention. Ten years later — and to the surprise of many — Bitcoin has grown to become a financial asset with a market value of hundreds of billions of dollars. Ammous makes the economic case for it.