On bitcoin and Simmel's idea of perfect money

au.link.externalLink [Full Text] (http://www.assumptionjournal.au.edu/index.php/PrajnaVihara/article/view/3934/2286)
dc.contributor.author Siwittra Chainiyom
dc.contributor.author Giordano, John
dc.date.accessioned 2019-06-26T08:09:27Z
dc.date.available 2019-06-26T08:09:27Z
dc.date.issued 2019
dc.description.abstract 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. en_US
dc.format.extent 14 pages en_US
dc.format.mimetype application/pdf en_US
dc.identifier.citation Prajna Vihara: The Journal of Philosophy and Religion 20, 1 (January-June 2019), 52-65 en_US
dc.identifier.uri https://repository.au.edu/handle/6623004553/22210
dc.language.iso eng en_US
dc.publisher Assumption University Press en_US
dc.rights This work is protected by copyright. Reproduction or distribution of the work in any format is prohibited without written permission of the copyright owner. en_US
dc.rights.holder Assumption University en_US
dc.subject Money en_US
dc.subject Bitcoin en_US
dc.subject Cryptocurrency en_US
dc.subject Simmel en_US
dc.subject Philosophy of money en_US
dc.subject.other Prajna Vihara: -- Journal of Philosophy and Religion en_US
dc.subject.other Prajna Vihara: -- Journal of Philosophy and Religion -- 2019 en_US
dc.title On bitcoin and Simmel's idea of perfect money en_US
dc.type Text en_US
mods.genre Journal Article en_US
Excerpt bundle
Now showing 1 - 1 of 1
Thumbnail Image
658.85 KB
Adobe Portable Document Format