Replies (2)

Jose Sammut's avatar
Jose Sammut 1 year ago
This, in my opinion, does not contradict what I said. Mises and Rothbard are discussing the emergence of money as a concept. Ie why we transition from barter. It arises from the need to exchange goods and services. I'm discussing the emergence of a new currency.
Jose Sammut's avatar
Jose Sammut 1 year ago
In a barter economy, people realize that some commodities are more stable / divisible / liquid, and use them as intermediary goods (money). And then the market finds harder commodities that are harder to devalue. And then the market accumulates capital and finds better stores of value. But Bitcoin enters an established market economy where people's primary monetary needs are already met.