Sorry he was not talking about mathematical modeling of the economic but how bitcoins are produce using mathematics functions.
Not one and the same thing.
Sorry, but bitcoins are economic instruments. It has no intrinsic value, but are used as currency in a limited number of transactions.
When bitcoins are created using mathematical functions, how does that divorce it from the economy?
Definition of Money
What is money? Money is any good that is widely used and accepted in transactions involving the transfer of goods and services from one person to another. Economists differentiate among three different types of money: commodity money, fiat money, and bank money. Commodity money is a good whose value serves as the value of money. Gold coins are an example of commodity money. In most countries, commodity money has been replaced with fiat money. Fiat money is a good, the value of which is less than the value it represents as money. Dollar bills are an example of fiat money because their value as slips of printed paper is less than their value as money. Bank money consists of the book credit that banks extend to their depositors. Transactions made using checks drawn on deposits held at banks involve the use of bank money.
It has intrinsic value, because it has the greatest acceptance by the world economies. It's the major currency in the oil markets.
Intrinsic value (ethics)
Intrinsic value is an ethical and philosophic property. It is the ethical or philosophic value that an object has "in itself" or "for its own sake", as an intrinsic property. An object with intrinsic value may be regarded as an end or (in Kantian terminology) end-in-itself.
For the last time, it doesn't matter how currency is created. Humans started using seashells as currency. In and of itself it didn't have intrinsic value, but the people who used them were a isolated minor group who didn't have paper or metal to make currency. For the longest time beer and wine were used as currency, and it had a broader usage, because almost everybody accepted ito's value - even non-drinkers. No matter, they were/are all economic instruments, and impacted trade.
Next it does matter that bitcoins unlike all other modern form of currencies can not be inflation by any governments actions and it is design to allowed transferring of wealth over the internet in a manner that is hard to next to impossible to trace along with the ownership of the coins.
I respond to all challenges if they are related to the topic at hand, and not ad hominems that results in nothing more than a waste of time.
In most economic exchanges, taxes are an essential part of those transactions. How can bitcoins be "legal," if they skip the tax laws?