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Yeah, this was a similar kind of journey that I went on - heard about Bitcoin, was fascinated, started learning about money (started with things like the 'money
by stephen_g 3y ago
Yeah, this was a similar kind of journey that I went on - heard about Bitcoin, was fascinated, started learning about money (started with things like the 'money multiplier', 'fractional reserve banking' etc., realised they didn't actually follow accounting rules and aren't how real banks work, eventually found the answers of how it works with stock-flow consistent accounting, endogenous money in banking, sectoral balances etc. - Monetary Economics by Godly and Lavoie is a good resource - I think a PDF is available if you look for it) and realised Bitcoin couldn't really work as actual money. It's still a very interesting thing from a theoretical point of view, but it's a shame the grifter culture that's grown up around it, and the huge amount of energy being used to run the system...