Cody Hall

I’ve made the point that money is a tool. It is a technology. It was invented to solve a problem.

Every tool has a level of quality. In the world of hand tools, Snap-on tools are better than Craftsman which are better than Harbor Freight. In the same way, different forms of money have different levels of quality.

We can gauge tool quality in several categories. With hand tools, categories could include physical materials (stainless vs. aluminum), production method (stamped vs. die cast), ergonomics, warranty (lifetime vs. shorter), etc. Money also has natural categories within which we can gauge its quality. I’m calling these the five characteristics of money.

Money solves the problem of the double coincidence of wants. Stated positively, both sides of a transaction must desire what the other has or the transaction can’t happen.

Money solves this problem in at least four ways:
1. Separates the act of buying from selling
2. Enables economic specialization
3. Increases market liquidity
4. Enables indirect exchange

Let’s look closer at each of these four elements.

Since 2018, I’ve spent a few thousand hours reading, listening, and learning about money, macroeconomics, cryptography, and Bitcoin.

I constantly ask myself two questions:

How should my biblical worldview inform my understanding of money and Bitcoin?

How will Bitcoin, as an emerging money, impact ministries and churches in the future?