Increase productivity
Sail further
Stretch duration
Capital accumulation
Make superior products
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The philosophy of money
Rai stones of the yap people
Not native to Yap
Limestone from neighboring islands
Beauty and rarity of stones .. desirable and venerable
Procure is difficult
Everyone can see in prominent location
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Centuries, Millenia
Stones never moved
Salability across space … payment anywhere on island
Different sizes
High cost of acquiring new stones
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Not of value because gathered too easily
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Glassmaking was expensive beads.
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I think the truly transformative thing about Bitcoin is the notion of fractional ownership … (.3 of a Bitcoin)
The hard thing — we always think in round numbers? 1 Ferrari, $1M, 1 hundred dollar bill, one $1 dollar bill, one good — in material goods. Or 1 ounce of gold, or one bar of gold. Or one property, one house, one property. In individual bedrooms. We can have 1, 2, or 3 bedrooms … not .7 bedrooms or 1.3 bedrooms.
We have a hard time thinking in fractions.
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