In this episode I expand on my famous article Why Everyone Missed the Most Mind Blowing Feature of Cryptocurrency

There’s one incredible feature of cryptocurrencies that almost everyone seems to have missed, including Satoshi himself.

But it’s therehidden away, steadily gathering power like a hurricane far out to sea that’s sweeping towards the shore.

It’s a stealth feature, one that hasn’t activated yet.

But when it does it will ripple across the entire world, remaking every aspect of society.

 

Books Mentioned in the Podcast

The Company: A Short History of a Revolutionary Idea

by John Micklethwait, Adrian Wooldridge

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From the acclaimed authors of A Future Perfect comes the untold story of how the company became the world’s most powerful institution.

Like all groundbreaking books, The Company fills a hole we didn’t know existed, revealing that we cannot make sense of the past four hundred years until we place that seemingly humble Victorian innovation, the joint-stock company, in the center of the frame.

With their trademark authority and wit, Economist editors John Micklethwait and Adrian Wooldridge reveal the company to be one of history’s great catalysts, for good and for ill, a mighty engine for sucking in, recombining, and pumping out money, goods, people, and culture to every corner of the globe. What other earthly invention has the power to grow to any size, and to live to any age? What else could have given us both the stock market and the British Empire? The company man, the company town, and company time? Disneyfication and McDonald’sization, to say nothing of Coca-colonialism? Through its many mutations, the company has always incited controversy, and governments have always fought to rein it in. Today, though Marx may spin in his grave and anarchists riot in the streets, the company exercises an unparalleled influence on the globe, and understanding what this creature is and where it comes from has never been a more pressing matter. To the rescue come these acclaimed authors, with a short volume of truly vast range and insight.

The Ascent of Money: A Financial History of the World

by Niall Ferguson

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A richly original look at the origins of money and how it makes the world go around

Niall Ferguson follows the money to tell the human story behind the evolution of our financial system, from its genesis in ancient Mesopotamia to the latest upheavals on what he calls Planet Finance. What’s more, Ferguson reveals financial history as the essential backstory behind all history, arguing that the evolution of credit and debt was as important as any technological innovation in the rise of civilization. As Ferguson traces the crisis from ancient Egypt’s Memphis to today’s Chongqing, he offers bold and compelling new insights into the rise? and fall of not just money but Western power as well.

 

From Bookmarks Magazine

“Niall Ferguson makes a strong, compelling case for the development of money and banking as a catalyst for the advancement of civilization. Yet while some critics praised his clear, comprehensible writing, punctuated with anecdotes and historical details, others were nonplussed by his explanations and narrative detours. Several critics also bemoaned the book’s choppy and uneven structure—an echo of the episodic, six-part television series it was meant to accompany. So it seems the UK critics liked the book less because they had seen the show. Though perhaps best suited to readers with a fundamental understanding of financial terms and theories, Ferguson’s latest work provides valuable insight into the inner workings of the global economy, past and present. For interested readers, it demonstrates how our current fiscal meltdown fits into the bigger historical picture and laments humanity’s perennial inability to learn from this history.”
–Copyright 2009 Bookmarks Publishing LLC

Sapiens: A Brief History of Humankind

by Yual Noah Harari

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New York Times Bestseller

A Summer Reading Pick for President Barack Obama, Bill Gates, and Mark Zuckerberg

From a renowned historian comes a groundbreaking narrative of humanity’s creation and evolution—a #1 international bestseller—that explores the ways in which biology and history have defined us and enhanced our understanding of what it means to be “human.”

One hundred thousand years ago, at least six different species of humans inhabited Earth. Yet today there is only one—homo sapiens. What happened to the others? And what may happen to us?

Most books about the history of humanity pursue either a historical or a biological approach, but Dr. Yuval Noah Harari breaks the mold with this highly original book that begins about 70,000 years ago with the appearance of modern cognition. From examining the role evolving humans have played in the global ecosystem to charting the rise of empires, Sapiens integrates history and science to reconsider accepted narratives, connect past developments with contemporary concerns, and examine specific events within the context of larger ideas.

Dr. Harari also compels us to look ahead, because over the last few decades humans have begun to bend laws of natural selection that have governed life for the past four billion years. We are acquiring the ability to design not only the world around us, but also ourselves. Where is this leading us, and what do we want to become?

Featuring 27 photographs, 6 maps, and 25 illustrations/diagrams, this provocative and insightful work is sure to spark debate and is essential reading for aficionados of Jared Diamond, James Gleick, Matt Ridley, Robert Wright, and Sharon Moalem.

Cryptocurrencies in this Episode

 

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