ON BITCOIN AND SIMMEL'S IDEA OF PERFECT MONEY.

Georg Simmel in his book Philosophy of Money, described how money evolves through history and predicted that it will evolve to the point where it no longer relies on any substance. He called this stage "perfect money," which he described as "money detached from every substantial value". Today we are...

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Publicado en:Prajñā Vihāra: Journal of Philosophy & Religion Vol. 20; no. 1; pp. 52 - 66
Autores principales: Chainiyom, Siwittra, Giordano, John
Formato: Artículo
Publicado: Assumption University, Graduate School of Philosophy & Religion Jan-Jun2019
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Acceso en línea:Ver este registro en EBSCOhost
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          Chainiyom, Siwittra
          Giordano, John
        affil: Assumption University, Thailand
      su:
        Bitcoin
        Simmel, Georg, 1858-1918
        Cryptocurrencies
        Trade regulation
        Money
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          Bitcoin
          Simmel, Georg, 1858-1918
          Cryptocurrencies
          Trade regulation
          Money
      keyword:
        Cryptocurrency
        Philosophy of Money
        Simmel
      ab: Georg Simmel in his book Philosophy of Money, described how money evolves through history and predicted that it will evolve to the point where it no longer relies on any substance. He called this stage "perfect money," which he described as "money detached from every substantial value". Today we are faced with the development of cryptocurrencies, of which Bitcoin is the best known. Bitcoin presents a new system of transaction which does not require governments or middlemen to regulate trade. Since such currencies are completely beyond substantial value, the philosophical question emerges whether Bitcoin is "perfect money." This essay will argue that Bitcoin can be understood in connection with Simmel's idea of "perfect money." But will also consider Simmel's claim that perfect money is only possible in a stable society and will show the limitations of cyrptocurrencies and Bitcoin in light of this.
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