Bitcoin Is the Currency of the Gods

Discounting is the single most important concept in finance and possibly economics. It’s the idea that money (cash) is less valuable tomorrow than today. The reason is quite existential: our impending death. Better to spend now than to never enjoy the fruits of your labor. The related inexorable march of inflation also makes money less valuable over time. The US Central Bank has two goals: 1. Ensure the dollar can buy 2 % less…