Debunking the Intrinsic Value Argument
I have to admit to having updated my mind about the “intrinsic value” argument that many people cite as a justification for treating gold as a money (vs paper currency). I’ve previously attempted to explain away this argument as a…
The Commodity Money Myth
Frank Shostak wrote an article about The Bitcoin Money Myth. For an Austrian economist with “over 35 years of experience as a market economist, central bank analyst, and builder of large scale macro-econometric models”[AAS profile], I’m not wholly surprised that…
Notes: Bitcoin Exchange
Plan for an international fully electronic exchange. * Objectives – eliminate latency arbitrage . secretize info All bids submitted cryptographically? with market clearing at fixed intervals (once a sec)? should depth be published? . publicize info Distributed clearing algorithm, every…