Mises argued that the most important function of money is as a medium of exchange. Money allows us to trade goods and services without having to barter directly. This is essential for a complex economy to function efficiently.
Bitcoin can be used as a medium of exchange to purchase goods and services from a growing number of merchants. It is also used to exchange other cryptocurrencies and to transfer value between people around the world.
«Not offices and bureaucrats, but big business deserves credit for the fact that most of the families in the United States own a motorcar and a radio set.» - Ludwig von Mises
«The great mass of people are incapable of realizing that in economic life nothing is permanent except change.
They regard the existing state of affairs as eternal; as it has been so shall it always be.» - Ludwig von Mises
«Man thinks not only for the sake of thinking, but also in
order to act.» - Ludwig von Mises
“The State, by its very nature, must violate the generally accepted moral laws to which most people adhere.” - Murray Rothbard
If socialists understood economics they wouldn't be socialists. - Friedrich Hayek
How do you use Bitcoin in your own life?
The characteristic feature of modern capitalism is mass production of goods destined for consumption by the masses. The result is a tendency towards a continuous improvement in the average standard of living, a progressing enrichment of the many. Capitalism deproletarianizes the "common man" and elevates him to the rank of a "bourgeois." - Ludwig von Mises
Bitcoin is resistant to inflation. The Bitcoin protocol is designed to control the supply of new bitcoins, which helps to prevent inflation. This is in contrast to fiat currencies, which are often inflated by central banks.
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Bitcoin is a commodity money. Bitcoin is not backed by any fiat currency or government. Instead, its value is derived from its scarcity and utility. This is similar to commodity money like gold and silver, which were used as money long before fiat currencies were invented.
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If history could teach us anything, it would be that private property is inextricably linked with civilization
Many who are self-taught far excel the doctors, masters, and bachelors of the most renowned universities. - Ludwig von Mises
Friedrich August von Hayek wrote in his book 'Denationalization of Money' about a system of competing private currencies. He argued that such a system would be more efficient and less prone to inflation than the current system of government-issued fiat money.
All rational action is in the first place individual action. Only the individual thinks. Only the individual reasons. Only the individual acts. - Ludwig von Mises