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New working paper! “The Power of Money: Lessons from Introducing Digital Currency to a Barter Community” economics.mit.edu/files/22266 #EconTwitter #crypto #barter #bunz 🧵 
Contribution: I use unique transaction-level data to document the effects of introducing digital money, a monetary expansion, and a currency crisis on transaction activity in a barter community in Toronto.
Context: Bunz is a community started by millennials in Toronto in 2013 to exchange personal possessions (e.g., used clothing, accessories, furniture, and plants). They arrange to trade in person through a mobile app platform with ~10K daily active users
Story Time!
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Okay so a few weeks ago, my friend gave me a mattress to upgrade the one in my guest room. So I decided to pay the good karma forward...
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Okay so a few weeks ago, my friend gave me a mattress to upgrade the one in my guest room. So I decided to pay the good karma forward...
...and give away my old mattress for free.
But it turns out, it's actually tough to give away a free mattress!
I got lots of interest, but people would have trouble wrangling a large enough vehicle, so they would cancel.
Finally...
But it turns out, it's actually tough to give away a free mattress!
I got lots of interest, but people would have trouble wrangling a large enough vehicle, so they would cancel.
Finally...
...I listed the free mattress in a faceboop group called Bunz.
I quickly got a message from a guy who said he lived nearby.
I asked him, "Do you have a vehicle that will fit a double mattress and box spring?"
He said, "No. But I can carry them."
...WAT
I quickly got a message from a guy who said he lived nearby.
I asked him, "Do you have a vehicle that will fit a double mattress and box spring?"
He said, "No. But I can carry them."
...WAT
