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	<title>Comments on: The Economics Of Bitcoin &#8211; Challenging Mises&#8217; Regression Theorem</title>
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	<link>http://www.libertariannews.org/2011/07/07/the-economics-of-bitcoin-challenging-mises-regression-theorem/</link>
	<description>Hate The State</description>
	<lastBuildDate>Wed, 19 Jun 2013 17:27:00 +0000</lastBuildDate>
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		<title>By: The value of cryptocurrencies &#124; Great Wall of Numbers</title>
		<link>http://www.libertariannews.org/2011/07/07/the-economics-of-bitcoin-challenging-mises-regression-theorem/#comment-11811</link>
		<dc:creator>The value of cryptocurrencies &#124; Great Wall of Numbers</dc:creator>
		<pubDate>Thu, 18 Apr 2013 16:20:56 +0000</pubDate>
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		<description><![CDATA[[...] The Economics Of Bitcoin – Challenging Mises’ Regression Theorem by Michael Suede [...]]]></description>
		<content:encoded><![CDATA[<p>[...] The Economics Of Bitcoin – Challenging Mises’ Regression Theorem by Michael Suede [...]</p>
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		<title>By: Interview: David Veksler and Tim Swanson discuss Bitcoin, Litecoin, cryptocurrency, cybersecurity in China &#124; Great Wall of Numbers</title>
		<link>http://www.libertariannews.org/2011/07/07/the-economics-of-bitcoin-challenging-mises-regression-theorem/#comment-11807</link>
		<dc:creator>Interview: David Veksler and Tim Swanson discuss Bitcoin, Litecoin, cryptocurrency, cybersecurity in China &#124; Great Wall of Numbers</dc:creator>
		<pubDate>Sun, 14 Apr 2013 09:37:56 +0000</pubDate>
		<guid isPermaLink="false">http://www.libertariannews.org/?p=9095#comment-11807</guid>
		<description><![CDATA[[...] The Economics Of Bitcoin – Challenging Mises’ Regression Theorem by Michael Suede [...]]]></description>
		<content:encoded><![CDATA[<p>[...] The Economics Of Bitcoin – Challenging Mises’ Regression Theorem by Michael Suede [...]</p>
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		<title>By: Bitcoin and Mises Regression Theorem. &#171; Smiling Dave&#039;s Blog of Psychology, Economics, and Gentle Sarcasm.</title>
		<link>http://www.libertariannews.org/2011/07/07/the-economics-of-bitcoin-challenging-mises-regression-theorem/#comment-11662</link>
		<dc:creator>Bitcoin and Mises Regression Theorem. &#171; Smiling Dave&#039;s Blog of Psychology, Economics, and Gentle Sarcasm.</dc:creator>
		<pubDate>Sun, 10 Feb 2013 02:42:26 +0000</pubDate>
		<guid isPermaLink="false">http://www.libertariannews.org/?p=9095#comment-11662</guid>
		<description><![CDATA[[...] Link: http://www.libertariannews.org/2011/07/07/the-economics-of-bitcoin-challenging-mises-regression-theo... [...]]]></description>
		<content:encoded><![CDATA[<p>[...] Link: <a href="http://www.libertariannews.org/2011/07/07/the-economics-of-bitcoin-challenging-mises-regression-theo" rel="nofollow">http://www.libertariannews.org/2011/07/07/the-economics-of-bitcoin-challenging-mises-regression-theo</a>&#8230; [...]</p>
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		<title>By: DL</title>
		<link>http://www.libertariannews.org/2011/07/07/the-economics-of-bitcoin-challenging-mises-regression-theorem/#comment-11092</link>
		<dc:creator>DL</dc:creator>
		<pubDate>Sat, 14 Jul 2012 05:23:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.libertariannews.org/?p=9095#comment-11092</guid>
		<description><![CDATA[Ok, but what if Bitcoin (or any other form of electronic money not controlled by Governments) ever grows to the point of being used on a large scale?  Isn&#039;t it inevitable that Governments will ban it? 

The Internet CAN be controlled at a massive scale, as the Chinese Govmt. shows every day.]]></description>
		<content:encoded><![CDATA[<p>Ok, but what if Bitcoin (or any other form of electronic money not controlled by Governments) ever grows to the point of being used on a large scale?  Isn&#8217;t it inevitable that Governments will ban it? </p>
<p>The Internet CAN be controlled at a massive scale, as the Chinese Govmt. shows every day.</p>
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		<title>By: gtjarruda</title>
		<link>http://www.libertariannews.org/2011/07/07/the-economics-of-bitcoin-challenging-mises-regression-theorem/#comment-10664</link>
		<dc:creator>gtjarruda</dc:creator>
		<pubDate>Tue, 24 Apr 2012 15:11:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.libertariannews.org/?p=9095#comment-10664</guid>
		<description><![CDATA[I&#039;m a late commenter, obviously,  but this post really resonated with my own feelings about money. I never thought it needed a prior use or value to be used as money, because of the properties you describe.

In a way, I believe that the value of money is based on the value of time/effort that it effectively replaces by allowing people to no longer barter. Like you say, getting from a telescope to a fish may be very difficult with barter, so the value of a medium of exchange arises simply because someone prefers to do something else with their time besides barter.]]></description>
		<content:encoded><![CDATA[<p>I&#8217;m a late commenter, obviously,  but this post really resonated with my own feelings about money. I never thought it needed a prior use or value to be used as money, because of the properties you describe.</p>
<p>In a way, I believe that the value of money is based on the value of time/effort that it effectively replaces by allowing people to no longer barter. Like you say, getting from a telescope to a fish may be very difficult with barter, so the value of a medium of exchange arises simply because someone prefers to do something else with their time besides barter.</p>
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		<title>By: USB 3G</title>
		<link>http://www.libertariannews.org/2011/07/07/the-economics-of-bitcoin-challenging-mises-regression-theorem/#comment-9794</link>
		<dc:creator>USB 3G</dc:creator>
		<pubDate>Tue, 06 Dec 2011 10:39:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.libertariannews.org/?p=9095#comment-9794</guid>
		<description><![CDATA[Well, interesting post, thanks!]]></description>
		<content:encoded><![CDATA[<p>Well, interesting post, thanks!</p>
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		<title>By: Bitcoin: a Mises-regresszió felülvizsgálata &#124; Magyar Bitcoin Portál</title>
		<link>http://www.libertariannews.org/2011/07/07/the-economics-of-bitcoin-challenging-mises-regression-theorem/#comment-9403</link>
		<dc:creator>Bitcoin: a Mises-regresszió felülvizsgálata &#124; Magyar Bitcoin Portál</dc:creator>
		<pubDate>Sun, 16 Oct 2011 08:28:38 +0000</pubDate>
		<guid isPermaLink="false">http://www.libertariannews.org/?p=9095#comment-9403</guid>
		<description><![CDATA[[...] Forrás: Libertarian News [...]]]></description>
		<content:encoded><![CDATA[<p>[...] Forrás: Libertarian News [...]</p>
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		<title>By: Crypto</title>
		<link>http://www.libertariannews.org/2011/07/07/the-economics-of-bitcoin-challenging-mises-regression-theorem/#comment-8831</link>
		<dc:creator>Crypto</dc:creator>
		<pubDate>Sat, 13 Aug 2011 08:51:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.libertariannews.org/?p=9095#comment-8831</guid>
		<description><![CDATA[Yes. Thank you. This explains in full length the most fundamental objection to digital currency and provides its necessary response. From the most superfluous and misinformed objections to the most essential, I believe this objection to be of the most essential. There are innumerable commentaries of similar structure that deal with surface issues, which is fine for the Bitcoin newcomers, but too few that respond to those with a sincere and informed interest in Bitcoin but have had difficulties stomaching some of the hard economics.]]></description>
		<content:encoded><![CDATA[<p>Yes. Thank you. This explains in full length the most fundamental objection to digital currency and provides its necessary response. From the most superfluous and misinformed objections to the most essential, I believe this objection to be of the most essential. There are innumerable commentaries of similar structure that deal with surface issues, which is fine for the Bitcoin newcomers, but too few that respond to those with a sincere and informed interest in Bitcoin but have had difficulties stomaching some of the hard economics.</p>
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		<title>By: DrGizmo</title>
		<link>http://www.libertariannews.org/2011/07/07/the-economics-of-bitcoin-challenging-mises-regression-theorem/#comment-8613</link>
		<dc:creator>DrGizmo</dc:creator>
		<pubDate>Sun, 10 Jul 2011 11:41:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.libertariannews.org/?p=9095#comment-8613</guid>
		<description><![CDATA[Wow wow wow, Mike, you make my head explode with Ideas... I really like your stuff, I think I see it as  you see it... as we know ... the market is a bunch of transactions, transactions are decisions between 2 &quot;people&quot; it is the P tp P aspect that excites me most, as you say money must have the trust, of the transactors... we trust truth, truth is found in past transactions, &quot;history&quot; ... and BTC is based on math the ultimate &quot;truth&quot; ...  I have always felt the Physical property (engineerd by God) was the real valued the ... its elemental property, not a compound, its mass was constant everywhere...and the mass carried the integrity and the trust. BTC has some of the same propertys albeit in a virtual world.

any way my ideas are based on respect, ... I just believe and always have believed money must carry the &quot;promise&quot; pledge&quot; &quot;honor&quot; and truth...of the &quot;transaction between two humans&quot;  and the promise carry s the integrity of the transaction... human actions... see respect is all bout decisions, ( you decide then you act)  In RESPECT... you sacrifice your decision to another, ( he gets to decide for you)  (he... well you both decide)  this process is a &quot;transaction&quot; and above all it must be free from (force and fraud)  it (the action) must have TRUST as its most important aspect... BTC has this in abundance...at least that is the way i see it.

 see  mutual respect  and decisions are all about human actions... there can be no transaction without respect (trust)  and money must inculcate the respect  (trust) of the transaction... as you say...moeny must hold its value, 

and for me BTC does this perfectly, even to a mathematical certainty.  BTC is/as you said well be the most important thing to happen in &quot;history&quot; and  is  the &quot;truth&quot; ... so finally BTC gives us, an honest, and truthful system of exchange to base our decisions-actions- transactions ... a system that has engineered &quot;trust &amp; mathematical truths&quot; into the the very essence of the transaction... I love it.

BTC with all its inherent &quot;mathematical values can /will ...monetize the Global -  information on the web, &quot; Global - a tip jar economy&quot; it is a beautiful thing to contemplate... 

I might be nuts but I also see BTC as a debt free exchange... the opposite to fiat $. I see BTC as the way out of this fiat crisis ... and the world will see it too as soon as it can comprehend it.

anyway you exactly right, this time...  is a here is a little pun, to ponder...

the BTC is a &quot;perfect&quot; good.  Good in all respects.]]></description>
		<content:encoded><![CDATA[<p>Wow wow wow, Mike, you make my head explode with Ideas&#8230; I really like your stuff, I think I see it as  you see it&#8230; as we know &#8230; the market is a bunch of transactions, transactions are decisions between 2 &#8220;people&#8221; it is the P tp P aspect that excites me most, as you say money must have the trust, of the transactors&#8230; we trust truth, truth is found in past transactions, &#8220;history&#8221; &#8230; and BTC is based on math the ultimate &#8220;truth&#8221; &#8230;  I have always felt the Physical property (engineerd by God) was the real valued the &#8230; its elemental property, not a compound, its mass was constant everywhere&#8230;and the mass carried the integrity and the trust. BTC has some of the same propertys albeit in a virtual world.</p>
<p>any way my ideas are based on respect, &#8230; I just believe and always have believed money must carry the &#8220;promise&#8221; pledge&#8221; &#8220;honor&#8221; and truth&#8230;of the &#8220;transaction between two humans&#8221;  and the promise carry s the integrity of the transaction&#8230; human actions&#8230; see respect is all bout decisions, ( you decide then you act)  In RESPECT&#8230; you sacrifice your decision to another, ( he gets to decide for you)  (he&#8230; well you both decide)  this process is a &#8220;transaction&#8221; and above all it must be free from (force and fraud)  it (the action) must have TRUST as its most important aspect&#8230; BTC has this in abundance&#8230;at least that is the way i see it.</p>
<p> see  mutual respect  and decisions are all about human actions&#8230; there can be no transaction without respect (trust)  and money must inculcate the respect  (trust) of the transaction&#8230; as you say&#8230;moeny must hold its value, </p>
<p>and for me BTC does this perfectly, even to a mathematical certainty.  BTC is/as you said well be the most important thing to happen in &#8220;history&#8221; and  is  the &#8220;truth&#8221; &#8230; so finally BTC gives us, an honest, and truthful system of exchange to base our decisions-actions- transactions &#8230; a system that has engineered &#8220;trust &amp; mathematical truths&#8221; into the the very essence of the transaction&#8230; I love it.</p>
<p>BTC with all its inherent &#8220;mathematical values can /will &#8230;monetize the Global -  information on the web, &#8221; Global &#8211; a tip jar economy&#8221; it is a beautiful thing to contemplate&#8230; </p>
<p>I might be nuts but I also see BTC as a debt free exchange&#8230; the opposite to fiat $. I see BTC as the way out of this fiat crisis &#8230; and the world will see it too as soon as it can comprehend it.</p>
<p>anyway you exactly right, this time&#8230;  is a here is a little pun, to ponder&#8230;</p>
<p>the BTC is a &#8220;perfect&#8221; good.  Good in all respects.</p>
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		<title>By: Graham</title>
		<link>http://www.libertariannews.org/2011/07/07/the-economics-of-bitcoin-challenging-mises-regression-theorem/#comment-8611</link>
		<dc:creator>Graham</dc:creator>
		<pubDate>Sat, 09 Jul 2011 19:23:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.libertariannews.org/?p=9095#comment-8611</guid>
		<description><![CDATA[I agree with you but think you are arguing from a weak angle, which makes this article way longer and less persuasive that it could have been. 

Simplify.

People - your average Joe Blow - are not largely not going to be aware of basic economics and what makes a good money. They are simply going to look for something to facilitate their exchanges, and choose whatever they deem best. For MOST people, that is simply going to be &quot;what everyone else I know uses.&quot; 

Hence it is quite possible for Bitcoin to &quot;bootstrap&quot; itself into monetary status. As soon as we have a community - of any size worthy of the name &quot;community&quot; - using bitcoins as money, the cat is out of the bag: there is now a de facto money being used in the world that is superior to all other forms of money, including gold. The laws of economics dictate that that money will tend to gain universal acceptance. 

By the way, if Bitcoin does catch on, the world will change in ways we cannot possibly imagine, but almost certainly for the better.]]></description>
		<content:encoded><![CDATA[<p>I agree with you but think you are arguing from a weak angle, which makes this article way longer and less persuasive that it could have been. </p>
<p>Simplify.</p>
<p>People &#8211; your average Joe Blow &#8211; are not largely not going to be aware of basic economics and what makes a good money. They are simply going to look for something to facilitate their exchanges, and choose whatever they deem best. For MOST people, that is simply going to be &#8220;what everyone else I know uses.&#8221; </p>
<p>Hence it is quite possible for Bitcoin to &#8220;bootstrap&#8221; itself into monetary status. As soon as we have a community &#8211; of any size worthy of the name &#8220;community&#8221; &#8211; using bitcoins as money, the cat is out of the bag: there is now a de facto money being used in the world that is superior to all other forms of money, including gold. The laws of economics dictate that that money will tend to gain universal acceptance. </p>
<p>By the way, if Bitcoin does catch on, the world will change in ways we cannot possibly imagine, but almost certainly for the better.</p>
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