How the Economics of Bitcoin and Ethereum Shape Their Cultures

Posted on by American Coins & Gold

How the Economics of Bitcoin and Ethereum Shape Their Cultures
Cryptocurrencies are cryptocultures. These cultures express themselves through different means, but the primary form of cultural expression is economics. Each blockchain represents an experiment in economics and the implied society this economics will create.The most famous and well-known experiment is bitcoin. Satoshi Nakamoto introduces bitcoin with the term “electronic cash.” Originally, bitcoin is presented as a complete money that has both cash-like properties and, as a consequence of its consensus mechanism, gold-like properties. Bitcoin will act in parallel as a medium of exchange and a store of value.This article is part of Culture Week, which explores how crypto is changing…