Bitcoin & Economics: What would a Bitcoin standard look like? - Saifedean Ammous

Should the use of Bitcoin as an international settlement currency continue to grow, how would the Bitcoin-based economy look? Ammous examines various historical monetary systems, from seashells to the gold standard, to draw lessons relevant to Bitcoin. As hard money comparable to gold, Bitcoin will likely lower time preference incentivizing delayed gratification, saving, investment, capital accumulation, and rising productivity. Beyond economic matters, lower time preference, and reduction in go…