He did want “a realistic, scientific accounting system of what is wealth.” Things diverged from there.
, the first comprehensive biography of Fuller, the writing of which required that I read all his books and thousands of pages of his lectures, interviews, and articles. In my book, which came out in August, I don’t mention Bitcoin at all, and I began to wonder if I had missed something important. Before long, though, I concluded that what Fuller was describing here had nothing to do with Bitcoin and very little to do with crypto in general.
The closer we look at Fuller, in fact, the more opposed he seems to be to everything that crypto has come to represent. To discourage the speculative booms and busts that accompany new financial instruments, he wanted every household to receive a fixed number of credits each year. He hated the notion of fortunes made by trading assets on paper, as well as the concentration of wealth exemplified by the rise of today’s class of billionaires.
Instead of misrepresenting what he actually believed, it would be much more productive for the crypto community to treat Fuller as a source of powerful metaphors, especially the concept of ephemeralization.
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