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Free Money: Bitcoin and the American Monetary Tradition

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Bitcoin is private money. We needed private money again, and Bitcoin came to provide it. Bitcoin's function, characteristics, architecture, and appeal pertain not only to our own time. Bitcoin clarifies so much we have forgotten, or have never known, about our monetary history: that private money, made for a profit, is the money of economies that really move. Over time, these populations become legendarily prosperous.

American history is perfectly clear that private money hastens economic wo...