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Publisher's Summary

This new book by New York Times best-selling author George Gilder tackles key questions about how monetarism distorts the economy and leads to misallocation of investment. Gilder covers a variety of topics, including Milton Friedman's greatest "error", money supply and velocity, the perils of high-volume trading, Bitcoin and how it mimics gold, and why a gold standard is superior to targeting based on a basket of commodities.

©2015 American Principles Project (P)2016 Blackstone Audio, Inc.

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Interesting perspective

George Gilder changes his estimate of bitcoin in his latest book "Life After Google" (2018). He now sees flaws in bitcoin's design based on the mismatch of savers and long-term investors. A successful currency/money needs to take investment needs into account.
I'm thinking if the key is time... that a distributed clock is the key. A uniform percentage is released and doesn't stop at a fixed amount. Then there needs to be a function that allows the currency to be used in funding an investment and in loans. The ability for debt forgiveness/destruction needs to be built in too as a part of investment risk.
Investment returns are the other side of the investment equation.
Bitcoin is ok as a payment system but it isn't set to to function as a global currency. The distribution system was never a great design. My thought is there should be a fixed exchange rate for each fiat currency and then the fiat currency should be destroyed as it's "quantum teleported" into the system thus swapping/replacing fiat for non-state sponsored. without the corresponding destruction of the fiat the combined money supply expands.