A Tale of Two Pizzas: Are Property Values Really Yours to Keep?
“You may own a monetary asset, but you’re not entitled to determine its exchange rate against other goods and services. Just because you own something, that doesn’t mean you own the prerogative of setting its price. That goes for homes too.” ~ Joakim Book
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What If a Great Crypto Crash Is Coming?
“Were the world to experience a new economic downturn, there is a great possibility that this lack of consumer use will show the current valuation of Bitcoin to have been a bubble. If this happens, a lot of retail investors will suffer.” ~ Benjamin Juhlin
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The Crime Dividend of Pandemic Policies
“The tradeoffs of pandemic policies were apparent early on, and now include mounting levels of fraud, theft, and violence. Although it is unlikely, hopefully that revelation will inform future policy choices.” ~ Peter C. Earle
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Assessing Market Expectations of Inflation
“Those denying any risk that inflation will remain above target or confidently predicting that 4 percent inflation will be the new normal, are not within the range of reasonable. They are rightly ridiculed.” ~ William J. Luther
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An Armor Conspired: the Global Shipping Freeze
“The idea that an economy could be shut down and turned back on without far reaching consequences is damnable, and could only come from the minds with no understanding of the extraordinary interdependence of the productive sector.” ~ Peter C. Earle
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Fast Payments Enable Lightning Kidnappings in Brazil
“The only way that the Banco Central do Brasil could completely end PIX-based lightning kidnapping would be to slow the entire system down. That would mean cutting regular Brazilians off completely from the benefits of real-time payments.” ~ J.P. Koning
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The Irony of China’s Most Recent Bitcoin Ban
“With the Evergrande crisis looming in the background, the crypto universe being pilloried by Chinese authorities as a ‘growing threat to financial stability’ and ‘disrupt[ive] to economic order’ is more than simply ironic. It is irony at its most mordant.” ~ Peter C. Earle
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Trouble Transacting with Bitcoin
“Problems with bitcoin’s design––including its suboptimal supply constraint and limited transactions capacity––cast doubt on the claim that bitcoin is superior to the monies widely used at present.” ~ William J. Luther
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Remembering the Truly Forgotten, Twenty Years Later
“On the 20th anniversary of September 11, 2001, more will be said about military service dogs than the thousands of hardworking, productive people killed in downtown Manhattan that day. But money and finance are the font of modernity and the wellspring of American prosperity.” ~ Peter C. Earle
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What’s Wrong With Bitcoin’s Supply Mechanism?
“Bitcoin’s supply mechanism fails to provide a long-run nominal anchor or promote monetary stability. A better money would employ a supply mechanism that offsets changes in the demand to hold it.” ~ William J. Luther
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Was the OnlyFans Ban a Symptom of Creeping Financial Censorship?
“It is unfortunate that OnlyFans content creators were nearly deplatformed. However, it seems to be a local incident, and not indicative of a global decline in accessibility to payments.” ~ J.P. Koning
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Bitcoin and the Network Effects Problem
“There are steps entrepreneurs can take to help reduce the network effects problem. It is, nonetheless, an obstacle bitcoin must overcome to achieve widespread adoption.” ~ William J. Luther
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