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Episode Info:

Vijay Boyapati and Koen Swinkels discuss how the emergence of Bitcoin has revealed some serious problems in the traditional Austrian account of the origins and nature of money. Topics include: how Menger and the Austrians failed to understand the bubbliness of money; how speculation rather than use as a medium of exchange is what bootstraps bitcoin; what bitcoin can or cannot tell us about the origins of money; how money is actually better off without 'intrinsic value'; how the success of gold shows that bitcoin can have a future; how bitcoin isn't quite money yet and what this means; and much much more.

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