Decentralized Cryptocurrency Systems and Hayek’s Unplanned Economy
“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
READ MORE
Hyperbitcoinization: By Choice or by Force?
“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
READ MORE
El Salvador Is Not the Birthplace of Bitcoin’s Future
“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
READ MORE
You Cannot Eat Bitcoin
“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
READ MORE
Fighting Ransomware Doesn’t Require Banning Cryptocurrency
“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
READ MORE
What the Heck Is Bitcoin All About?
“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
READ MORE
The Rise of Bitcoin
“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
READ MORE
Bitcoin and a Lesson in Electricity Markets
“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
READ MORE
The Blockchain and the Future of Everything
“The current apparatus of centralized data processing and storage is not only incapable of adequately handling the prerequisite needs of this digital society, but it might also turn it into a dystopia. What we need is a highly decentralized and efficient infrastructure that is impervious to manipulation. Blockchain technology seems to be the essential component to make the digitized society of the future a foundation for empowerment and growth rather than an Orwellian nightmare.” ~ Ethan Yang
READ MORE
Why Do Cryptocurrencies Use So Much Energy?
“Critics are upset about the energy consumption of cryptocurrencies. But it’s not the energy needs of these products that is the problem. Let niche communities enjoy their strange energy-intensive activities. Rather, what is disturbing is that most consumers of cryptocurrencies don’t perceive the true cost of the services they are using. And so these very, very expensive products have, by accident, gone mainstream.” ~ J.P. Koning
READ MORE
YouTube Censors Florida Governor DeSantis and His Science Advisors
“The pulling of the roundtable video comes a day after the total humiliation of 60 Minutes in many stories that defended the governor. Its deletion of the most viewed version online denies viewers the opportunity to observe DeSantis’s impressive knowledge on the subject of the coronavirus and the public policy response.” ~ Jeffrey Tucker
READ MORE
The Promise of Cryptocurrencies
“Cryptocurrencies have the potential to improve upon both commodity and fiat monies. If designed properly, a cryptocurrency would anchor long-run expectations and provide timely supply adjustments at a lower cost than commodity and fiat monies.” ~ William J. Luther
READ MORE
