From money to culture: The practical indeterminacy of Bitcoin's values and temporalities

【Author】 Yokoyama, Yura

【Source】ECONOMIC ANTHROPOLOGY

【影响因子】1.236

【Abstract】Bitcoin, regarded as a decentralized currency of the future as well as a digital gold, faces various challenges, such as scalability, the geographical concentration of mining, its politically informed design and history, its high market volatility, and inequalities in the proportion of accumulation. However, the number of Bitcoin owners has risen exponentially, and relevant socioeconomic and political groups have become increasingly diverse. Consequently, this article argues that what has contributed to the global diffusion of Bitcoin and its embeddedness in different human societies is its practical indeterminacy. Practical indeterminacy characterizes the fundamentally undefinable, indeterminate nature of Bitcoin's value, as it can change its form depending on who it encounters. In terms of temporality, practically indeterminate Bitcoin can urge potential owners and users to compare their pasts and futures, thus driving them to perceive, own, and use Bitcoin for their own purposes. By paying attention to the agency of Bitcoin, practical indeterminacy explains how individuals form their own relations with Bitcoin and how these relations lead to Bitcoin's further sociocultural embeddedness. The proliferation of such a wide range of human-Bitcoin relations shows that Bitcoin is not only monetary but also cultural, as it offers different meanings to users and owners.

【Keywords】Bitcoin; Money; Practical Indeterminacy; Temporality; Digital Anthropology

【发表时间】

【收录时间】2022-08-28

【文献类型】观点阐述

【主题类别】

区块链治理-市场治理-数字货币