Marcelo Fleischer on Bitcoin: The Birth and Resurrection of Monetary Insurrection

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A decade ago, almost to the month, a man arrived at my apartment here in Buenos Aires with a bottle of Malbec under one arm and a crazed, almost fanatical look in his eye...

He had come to tell me about a nascent payment system he had uncovered, one that he thought had the potential to “revolutionize money, markets, man’s relationship to the state... everything!”

By the look of him - disheveled, coffee-wired, more intense even than usual - I assumed he’d been up for days on end, doing the proverbial “deep dive” into the whole project.

I was right. (But not as right as he was!)

Over the course of the next few hours - and a few glasses of the aforementioned vino - my friend explained to me the ins and outs of an ingenious technological breakthrough... one that had been, literally, thousands of years in the making...

As you’ve probably guessed by now, that payment system was (and in some ways still is) Bitcoin. And at the time, back in early 2011, you could buy one (becoming what is now known in the hallowed halls of Bitcoinlandia as a “whole coiner”) for less than a cup of coffee - or about $1.50.