Bitcoin

Articles related to the peer-to-peer digital commodity/currency called Bitcoin.

Questions For Krugman On His Latest Bitcoin Screed

Leave it to Paul Krugman to make the claim that a massive increase in a money’s value leads to hoarding, deflation, and depression. Krugman is a Keynesian economist who believes in a centrally planned monetary system in order to facilitate massive government interventions in the market place.  He was educated at MIT and won the Nobel…

National Intelligence University Academic Launches Attack Against Digital Currencies

Cody Monk of the National Intelligence University and The Naval Postgraduate School recently co-authored a paper entitled Shadowy Figures: Tracking Illicit Financial Transactions In The Murky World of Digital Currencies, Peer-to-Peer Networks, and Mobile Device Payments with John Vaillasenor (Brookings Institute) and Christopher Bronk (Baker Institute at Rice University). In the paper, the authors argue for massive government regulation and clandestine surveillance in…

A Picture History Of Fiat Money – Visualizing Your Doom

A picture is worth a thousands words, while fiat money is worth the paper it is printed on. View your future through images of the past.   Yugoslavia – 10 billion dinar, 1993: Zaire – 5 million zaires, 1992: Venezuela – 10,000 bolívares, 2002: Ukraine – 10,000 karbovantsiv, 1995: Turkey – 5 million lira, 1997:…

Orwellian Bitcoin Economics

I found this tidbit of idiocy to be humorous: Werner Antweiler, an economics professor at the University of British Columbia, is more than skeptical. He says Bitcoins magnify the same problems that exist with commodity-based currencies such as the gold standard, which he says was abandoned decades ago for good reason. “As an economist, I think…

The Economics Of Bitcoin – Challenging Mises’ Regression Theorem

There has been a lot of outcry from the libertarian gold bug community over the Bitcoin monetary system, with some commentators even going so far as to produce feature length videos decrying the monetary system.  David Kramer writes on Lew Rockwell.com: What was Bitcoin’s prior material use/value? Zero. It is just bits in a computer. And what’s…