Anonymous Digital Cash

– February 24, 2018

Central bank digital currencies will be used by criminals. But central banks should still provide them.


The First Government Crypto Was a Fiasco

– February 23, 2018

Ever since the invention of cryptocurrency, people have asked whether governments will just create their own to compete directly with private issuance. Many governments have talked about doing so. In the greatest of ironies, it was Venezuela (socialist “paradise” of hunger, poverty, and massive emigration) that has made the most public attempt with the pre-sale of a new token called the Petro. It was a fiasco. 


Crypto vs. Fiat: The Battle Is On

– February 19, 2018

You might be living in a time in which you will experience the end of central banking and perhaps even fiat currency, and their replacement by a completely new system.


Does the Developed World Need Cryptocurrencies?

– February 14, 2018

Liberty Street Economics, the New York Fed’s blog, recently did a question-and-answer session with Fed economists Michael Lee and Antoine Martin about cryptocurrencies. It’s a largely neutral and factual interview, but the economists do make one provocative comment: “Cryptocurrencies arguably solve the problem of making payments in a trustless environment, but it is not obvious that this is a problem that needs solving, at least in the United States and other advanced economies.”


The Source of Terrible Ideas, and Great Ones

– February 11, 2018

The parable of top-down socialism vs. bottom-up Bitcoin tempts one to adopt a general theory of the relationship between ideas and social change. It might be the case that bad ideas come from the top down and good ideas from the bottom-up, as a general expectation and principle. That seems to cover most use cases, until the point comes when liberal intellectuals become hugely influential in academia. We’ll wait a long time for that to be the case.

American Institute for Economic Research

Why the Crypto Community Needs to Support AIER

– February 7, 2018

We’ve worked to counter the negative opinions of people at once-mighty institutions like the Bank for International Settlements and on. And the research you read here truly matters. AIER is not just another Medium account; it is one of the world’s most respected voices in economics. We have both the credibility and longevity. To win this battle requires both theory and practice. The sustainability of this revolution depends on both. So please pull out those wallets and donate today. The AIER needs you. Crypto needs you. The future of freedom needs you.


Large Businesses Might Adopt Blockchain Technology Faster Than Individuals

– February 5, 2018

Blockchain technology won’t truly be pervasive until people gain enough intuitive understanding of the technology to trust it. That could be a slow process.


Bitcoin’s Price Volatility is Trending in the Wrong Direction

– February 2, 2018

It only takes a quick glance at recent news to know Bitcoin is volatile; its fluctuations in price have made headlines for months now. But exactly how volatile is it relative to commonly used currencies, and how does that affect this cryptocurrency’s ability to actually be a usable medium of exchange?


The Digital Denationalisation of Money

– January 29, 2018

Cryptocurrencies are still quite new and seem to just be scratching the surface of their potential. If they are to succeed — not only as a fringe medium of exchange or speculative investment, but as real competitors with government currencies — some new programmers are going to have to come along and make currencies whose digital coins are created in a much different manner than the current ones. Perhaps digital coins whose supply is determined by demand will lower volatility enough to cut the future uncertainty of prices. Those may be adopted as true media of exchange. Until that time, Hayek’s vision of private currencies will not be quite realized.


Bitcoin’s Largest Price Changes Coincide With Major News Events About the Cryptocurrency

– January 26, 2018

While the nature of the news events does not necessarily explain the magnitude of Bitcoin’s price changes or its daily volatility, it does suggest that the market is not being driven entirely by manipulation or the behavior of small numbers of traders.


The Domain of Cryptocurrency: Clearing Accounts and Liquidity Costs

– January 25, 2018

Like clearinghouse associations, the blockchain technology will further stabilize the banking system.


Party Like It’s 1999: The Beautiful Inevitability of a Bubble in Blockchain Startups

– January 20, 2018

Is there a bubble in the ICO/blockchain startup space? Short answer: yes. Long answer: still yes, but it involves very little of the irrationality most people associate with such things, and shows just how important the underlying blockchain technology truly is.