I am planning on writing a monthly research bulletin on the economics of Bitcoin. What are some economic questions related to Bitcoin you would like to see me discuss?
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They also were (to some extent still are) armed to the teeth and have a mountain terrain well suited to defense.
was off limits to prevent mutual destruction of gold/wealth storage as hedge against losing wars.
The history of holding and otherwise using gold is very closely tied to physical security. The history of crypto is and will be closely tied to key management.
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Swiss soldiers were also, not coincidentally, often hired as mercenaries and guards across Europe. https://en.wikipedia.org/wiki/Swiss_Guards …
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Quite possibly related to their heavily pastoral diet.
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Key management does not require armies. So for this reason as well as because of its utility as a means of payment, BTC more likely to accumulate in the hands of the individual who manages himself with robust economic and trade policy rather than in the hands of the state.
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It depends on how one splits up and stores the keys. There is still a physical security aspect, but it varies based on such considerations.
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The history of crypto is and will be closely tied to cyber security
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I always thought the pivot from gold was intricately linked to the formation of nation states with a strong law enforcement system. If the rule of law conquered there was no need for bulkiness of gold storage, since u could trust the judiciary to settle disputes
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My impression was that wealth was land for most of human history. The idea of monies as a significant store of value came in with early industry.
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Think what was lined up in the treasuries of the feudal kings, also the Roman Empire
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True, but as a percentage of GDP I'd imagine modern day household saving as much much higher. I shouldn't have written 'idea'
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I don't mind being called a gold bug, but comparing bitcoin to gold is still only more aspirational than attainable - I don't remember the overall price of gold ever falling dramatically just because someone got robbed or a country lost a war
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That is why key management needs to be digitally decentralised and resilient against censorship
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