Very interesting Nick. Don´t you think that Double entry Accounting was key for joint-stock companies to thrive?
History & the security of property https://archive.is/dRXEK Principle of least authority https://archive.is/TqjwS Birth of insurance https://archive.is/Q9Oyu Origins of the joint-stock company https://archive.is/EvOHS Kula ring https://archive.is/ICf4I Archiveshttps://archive.is/Zqi9H
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I haven't read anything linking these two but it's an interesting idea!
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The idea is that double entry accounting makes joint-companies much more easy to audit, so it dramatically lowered the cost of trust for equity holders.This allowed for much more longer and well funded enterprises, initially long sea commercial journeys to the americas and indias
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This article describes the historical importance of double entry accounting. It also states that Bitcoin is triple-entry accounting (not so sure about that, but it could be). The historical part of accounting is interesting though.https://hackernoon.com/why-everyone-missed-the-most-important-invention-in-the-last-500-years-c90b0151c169 …
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Why are you not sure if Bitcoin is triple-entry accounting?
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I just haven´t thought enough about it
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I´d say it is triple entry accounting, nevertheless I don't think that the mutability of 2 entry accounting is a real issue. Most frauds do not involve rewriting entries, they are more sophisticated than that.
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@NickSzabo4 you rock dude!!! Appreciate the immense wealth you share online as well as dropping by randomly to like one of my Tweets. Your articles have taught me a lot, and I enjoy your opinions in Politics. You can be my Satoshi anyday! Hahahahahaa.$BTC
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Thank you for this archive, hero.
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I remmeber my Anthro course fondly in Uni because of the Kula. Is it true that the maximum honor for a tribe leader was to reign long enough for him to receive back "full circle" a kula he had sent, with new "bells and whistles" on top? So fascinating to think about.
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Kula ring counter current circulation of arm and neck rings is important.. trade balance?
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Gender balance perhaps.. ?
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Great resource!
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Never read Birth of Insurance. I’m in this space, now. Amazing read.
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Bitcoin joins Money of Exchange, with Money of Account.
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