Bitcoin has spurred a renaissance of thought on the question of “what is money?” Bitcoin is often linked to the Austrian school of economics without much thought as to why, but pondering this question allows for the most thoughtful justification: money is an emergent order and understanding its operation depends on appreciating irreducible uncertainty, subjective value, and methodological individualism. Often described as a logical treatment of a subject fundamentally resistant to scientific analysis, the emergence of Bitcoin and its acceptance in the market has many Austrians rightly cackling at a real-world proof of the efficacy of the school.

On which note, Mises’ monumental The Theory of Money and Credit is essential reading for any Bitcoiner, and Menger’s On the Origins of Money might be the single best prose answer to the preceding question. More a Bitcoiner himself than an Austrian – or at the very least a polymath – Nick Szabo’s writing is essential reading not only for Bitcoiners, but for anybody struggling to understand what on earth is going on in the world. Contemporary Austrian economist Rahim Taghizadegan has indeed credited Szabo’s thesis in Shelling Out as a novel contribution to the school.