If both bitcoins and national currencies have no intrinsic value, then perhaps they are the same sort of financial instrument, or at least cousins. But I think this is wrong. Below I’ve mapped out a taxonomy of financial assets showing how Bitcoin and fiat money are categorized. Bitcoin and fiat money aren’t even cousins; they’re on entirely different branches of the family tree.
Read More Here: https://www.aier.org/article/sound-money-project/bitcoin-novel-financial-game
