Are All Cryptocurrencies Pyramid Schemes?

– February 27, 2020

All moneys and valuable items are pyramid schemes, and all holders of money and valuable items hope that the next person in line will pay more for them. That’s how monetary balances work. No big deal.


Why Is Maduro Pushing the Petro?

– February 20, 2020

Why would the Venezuelan government prefer the petro? Three reasons stand out.


Choice in Currency for Valentine’s Day

– February 12, 2020

Valentine’s Day is fast approaching. If you’re looking for the perfect gift for that special someone, who better to ask than an economist? In 1993, Yale economist Joel Waldfogel published a famous paper on the optimal gift-giving strategy. His assessme …


Blockchain Could Have Prevented the Iowa Caucus Debacle

– February 6, 2020

Iowa Democrats could have simply transferred a predetermined sum of Bitcoin to signal which candidate received their precinct’s delegates. Had they done so, the blockchain’s public ledger would have conveyed the necessary information in a transparent, …


Greetings from the Bitcoin Mansions

– February 1, 2020

Bitcoin’s monetary dreamworld does look rather fanciful and full of strange beliefs: a land of fairies, castles and – I imagine – princesses, a land, writes Jemina Kelly at Financial Times, “where bunk and baloney thrive.”


Bitcoin Is Quantitatively Tightening

– January 22, 2020

In light of the broader field of monetary policy worldwide, the upcoming Halvening will come at a particularly auspicious juncture.


Was Bitcoin the Best-Performing Asset of the Decade?

– January 7, 2020

Bitcoin’s returns over the last decade have dominated every other asset we can compare it with, but that still doesn’t tell us what we need to know about the future viability of this extraordinary development in human monetary affairs.

Anonymity Vouchers

Anonymity Vouchers: An Improvement for Private Transactions

– December 26, 2019

Financial anonymity is a controversial topic. It’s no wonder that central bankers, a conservative lot, tend to shy away from it. A recent paper from the European Central Bank (ECB) outlining a proof of concept for anonymous digital currency payments is …


A Cautious Retrospective on Bitcoin

– December 4, 2019

Bitcoin could still go to the moon. But there are plenty of reasons to believe the opposite too. The most likely immediate future is that Bitcoin will continue brilliantly to service a special type of need.


What If You Tell the Bartender About Crypto and He Doesn’t Say a Word Back to You?

– November 25, 2019

At the BrainBar festival in Budapest, Hungary, this year, it was my pleasure to stay around an extra day for the filming of a video series on crypto. Basically, they just let me talk and talk to this bartender who never said a word back to me! As a res …


PayPal, Pornhub, and Financial Inclusion

– November 21, 2019

While PayPal’s de-risking of PornHub is unfortunate, there are many alternative payment options available to PornHub’s content providers. Competition saves the day. For now, at least.


The Great Lesson of Vision Fund

– November 15, 2019

A central plan is not a business plan. Even a private sector central plan is doomed to fail.