Abstract
As it relates to Bitcoin, there are several interesting questions to address:
- Why does money exist and what role does it play in society? How does bitcoin fit within our understanding of the role of money in society?
- What is bitcoin worth?
- Is bitcoin (or can bitcoin be) a sound form of money?
- Should states or governments be involved? Should they buy bitcoin?
In this paper, I attempt to provide some answers to these questions by drawing on insights from mainstream economic theory.
