The Asymmetry of Bitcoin Scams Is All Very Sad

– July 24, 2021

“When losses come from risk-taking for which you stood to benefit, it’s not sad if you happened to lose. That was a possible outcome, and whether you properly understood it or not is beside the point. With Skin in the Game, there’s nothing sad about making losses.” ~ Joakim Book


What Do Wildcat Banks Tell Us About Stablecoins?

– July 22, 2021

“The experience in Michigan when it was a frontier state in the same year that the telegraph was invented is not particularly pertinent for discerning the likely success of private currency with the communications technology available today. ‘Wildcat’ is a phrase that has no relevance for stablecoins.” ~ Gerald P Dwyer


Are Digital Assets Coming of Age?

– June 27, 2021

“During the intervening five years, much has happened to support the case for digital assets. More legitimacy will be needed to satisfy the institutional investment community, but it is reasonable to conclude that digital assets have finally come of age.” ~ Colin Lloyd


The Decentralization Fetish

– June 21, 2021

“We must not merely assume that decentralization is always good and more-decentralized solutions are always better. Instead, we should recognize that it depends on the unique benefits of decentralization and the costs of realizing those benefits relative to more-centralized alternatives.” ~ William J. Luther


Decentralized Cryptocurrency Systems and Hayek’s Unplanned Economy

– June 19, 2021

“Pure free market money is emerging upon the world to compete from a position of zero against a Goliath establishment. If it wins, the debate is settled. With luck, but thankfully without the permission of any planner, we all get to witness Hayek’s ideal of decentralization bear out across financial markets in all of the years ahead.” ~ Erik Voorhees


Hyperbitcoinization: By Choice or by Force?

– June 16, 2021

“It’s hard to avoid the conclusion that bitcoin’s culture is changing. Getting to 100% bitcoin adoption remains a core plank of the bitcoin community. But now all routes to that goal seem open, including the use of government force.” ~ J.P. Koning


El Salvador Is Not the Birthplace of Bitcoin’s Future

– June 15, 2021

“Imposing the use of Bitcoin by force through a software oligopoly–through a scheme which may ultimately pose a threat to the entire El Salvadoran economy–is almost as far from Satoshi’s Bitcoin objectives as the fiat dollar is.” ~ Peter C. Earle


You Cannot Eat Bitcoin

– May 31, 2021

“You cannot eat bitcoin, or dollars, or bank balances, which means that whatever vehicle you use to move value across time has an exchange rate risk. Many bitcoiners’ mistake is to think that their preferred asset avoids this; Taleb’s mistake is to think that others can have a different view of government than him.” ~ Joakim Book


Fighting Ransomware Doesn’t Require Banning Cryptocurrency

– May 29, 2021

“With OFAC as coxswain, an embargo might achieve everything that a ban on cryptocurrency promises to achieve without depriving gamblers, outsiders, and hobbyists of a product they utilize. It would also be more effective than the status quo, which is not capable of stopping criminals who operate with impunity from noncompliant jurisdictions.” ~ J.P. Koning


What the Heck Is Bitcoin All About?

– May 19, 2021

“Peter C. Earle, senior fellow at AIER joins Aleksandra Przegalinska for a conversation on the unknowns of bitcoin, crypto currency and blockchain technologies in the modern era.” ~ AIER


The Rise of Bitcoin

– May 6, 2021

“The blockchain technology at bitcoin’s core provides a new and fundamentally different way to process payments. It relies on neither decentralized nor centralized clearing. Instead, it processes transactions over a distributed network. And, by solving the double spending problem without recourse to a trusted third party, it has the potential to offer a degree of financial privacy comparable to decentralized payment mechanisms like cash.” ~ William J. Luther


Bitcoin and a Lesson in Electricity Markets

– May 1, 2021

“We should indeed be skeptical of financial fads, of everything in the Everything Bubble. And we should argue over bitcoin’s many monetary attributes – mostly because we therefore highlight how other monetary regimes work. But the environmental accusations of Bitcoin’s mining operations is like hitting your head against brick walls – not a very useful thing to do. Like the great JP Koning concluded this week, ‘It’s not the energy needs of these products that is the problem.'” ~ Joakim Book