tag:blogger.com,1999:blog-3758330678390419129.post4122340965682704601..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Is Bitcoin Money?: What Economists Have To SayRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger37125tag:blogger.com,1999:blog-3758330678390419129.post-20467718783792949562019-07-19T07:39:27.245-04:002019-07-19T07:39:27.245-04:00It is currently the eve of 2018 and bitcoin is at ...It is currently the eve of 2018 and bitcoin is at the highest point of the mountain. The terrible days is by all accounts gone, and in spite of the fact that a bitcoin air pocket could happen whenever, there is no contending the digital currency is staying put. <a href="https://www.bitcoinrobotreview.com/" rel="nofollow">bitcoin</a><br />Smithhttps://www.blogger.com/profile/13646387756481401661noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-24788162122185511672017-09-15T20:53:44.765-04:002017-09-15T20:53:44.765-04:00Best comment of the day. But seriously, BTC isn...Best comment of the day. But seriously, BTC isn't money yet, i think it will be money at some point in the futurevalley sapienhttps://www.blogger.com/profile/02844269434344827884noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-32459463534547557862017-09-15T20:53:09.744-04:002017-09-15T20:53:09.744-04:00YESS!YESS!valley sapienhttps://www.blogger.com/profile/02844269434344827884noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-91765485462902060872017-07-25T16:34:02.331-04:002017-07-25T16:34:02.331-04:00The trades using modernized money related norms ha...The trades using modernized money related norms happen immediately and there is no trade cost included. Best of all, nobody can control the bitcoin framework. <a href="https://ndxtoken.org/" rel="nofollow">buy ethereum</a>sharery dairhttps://www.blogger.com/profile/15142148148507019964noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-27304575338832647602017-06-24T09:53:47.198-04:002017-06-24T09:53:47.198-04:00Bolenum project is the cryptocurrency access point...Bolenum project is the cryptocurrency access point of the African continent<br /><a href="http://bolenum.com" title="bolenum" rel="nofollow">bolenum</a><br />Anonymoushttps://www.blogger.com/profile/00248296275628982891noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-54396851296422811312014-01-15T07:02:27.702-05:002014-01-15T07:02:27.702-05:00Bitcoin and other alt coin’s potential are yet to ...Bitcoin and other alt coin’s potential are yet to be maximized. Right now, it is used as a payment system and as a commodity, but soon, I hope that it will be an everyday global currency. Betcoin.tmhttp://betcoin.tm/noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-44973086239734455062013-12-04T20:32:09.947-05:002013-12-04T20:32:09.947-05:00I find it funny that 4 years later we are still ar...I find it funny that 4 years later we are still arguing the 'regression theorem' aspect of Bitcoin which is something that I was a part of back in 2009-10 when it first went live at the original bitcoin forums. Those involved with the creation of the client based on the code were definitely aware of the regression theorem then. I'm not saying they had it all right, but it seems thatTom Luongonoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-61104768346505999412013-12-04T12:21:00.541-05:002013-12-04T12:21:00.541-05:00The vast majority of these economists all weaseled...The vast majority of these economists all weaseled out of the question by using their own vague definition of "commonly used". They moved the goal posts, so they could confidently assert that bitcoin is "not money". The guy who said the CPI index must be labeled in bitcoins for it to be considered money was quite laughable, I'm guessing he still believes that dollars Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-85919497272162989122013-12-03T12:46:19.207-05:002013-12-03T12:46:19.207-05:00To understand the possible price behavior of a new...To understand the possible price behavior of a new currency like bitcoin, use the quantity theory of money; M·V = P·Q. Sudden price rise and hoarding is to be expected, not deflation: <br /><br />http://zeroprofits.blogspot.com/Anonymoushttps://www.blogger.com/profile/01302300577801999166noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-65152824894282683702013-11-30T23:24:57.855-05:002013-11-30T23:24:57.855-05:00What, gold and silver are not money? According to ...What, gold and silver are not money? According to this Austrian definition they can’t be. Amazon doesn’t accept these “precious” metals and neither do most Americans.<br /><br />www.youtube.com/watch?v=ndshbH3qZ6Y<br />www.youtube.com/watch?v=z7usCHnZ-8c<br /><br />Hilarious! Not at all “generally accepted.”<br /><br />If one were to engineer the perfect money, I’m not sure what it would look Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-89805701670799629842013-11-30T22:25:05.791-05:002013-11-30T22:25:05.791-05:00How would you carry these "Joules" aroun...How would you carry these "Joules" around with you? Perhaps you should also read up on the 2nd law of thermodynamics before adopting this "Joule" standard. Bernanke's inflation will look tame in comparison.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-75650145730229948432013-11-29T14:50:09.272-05:002013-11-29T14:50:09.272-05:00So if Bitcoins will replace world currencies as th...So if Bitcoins will replace world currencies as the U$, Euro, Sterling, and so forth...what Central Banks and their Treasure Bonds will worth if in Order to Print money they need to sell Government bonds?<br />Currencies are all tied up with their counties GDP, IMF, World Bank, Bank of International Settlements, commodities, war and peace, Trade agreements, so let me ask all where the The CentralAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-32293238428358281912013-10-11T07:49:03.254-04:002013-10-11T07:49:03.254-04:00Agreed, Peter. It is partly just word play. The &q...Agreed, Peter. It is partly just word play. The "money or thing fallacy" is a great formulation. I have also recently taken up unit of pricing and unit of account (unit used for economic calculation) to be a much more precise definition of money than the old and vague "commonly used" criterion (as in my 14 September article). Any medium of exchange that a seller accepts in Konrad S. Grafhttp://konradsgraf.comnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-17166646599015047302013-10-10T06:27:22.411-04:002013-10-10T06:27:22.411-04:00Thank you Bob for doing this research. It shows th...Thank you Bob for doing this research. It shows that even in the Austrian school, economists are confused about money and do not have a standardised approach. I my lecture last Saturday at the Crypto-Currency Con in Atlanta, I showed five different definitions of money used by the Austrians.<br /><br />My own conclusion is that the term "money" depends on context, but in most cases in Peter Šurdahttps://www.blogger.com/profile/17346161576941109337noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-85749047154840130512013-10-09T23:18:27.186-04:002013-10-09T23:18:27.186-04:00What world currencies have a monetary base, by pur...What world currencies have a monetary base, by purchasing power, that is lower that Bitcoin's? Which world currencies are less readily accepted? Are those currencies not money?IanSeanhttps://www.blogger.com/profile/11782381803975176136noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-75704291106859237522013-10-08T16:34:23.863-04:002013-10-08T16:34:23.863-04:00After studying this issue for almost a year, I'...After studying this issue for almost a year, I'm beginning to think Bitcoin may fit the Regression Theorem BETTER than gold! It is infinitely more liquid, much easier to transfer and protect, easily transported, RDF2https://www.blogger.com/profile/14340534647561133098noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-78387315364776463402013-10-08T16:32:37.208-04:002013-10-08T16:32:37.208-04:00Amber, I understand what you are trying to say - w...Amber, I understand what you are trying to say - we need SOMETHING, be it joules or jewels- to represent "value". <br /><br />But value is always subjective. No fixed medium or commodity or crypto system will ever have objective value, since objective value is always subject to individual desires and needs. A person seeking to move a billion dollars worth of gold bullion out of the US RDF2https://www.blogger.com/profile/14340534647561133098noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-78688946292176529762013-10-08T15:15:38.053-04:002013-10-08T15:15:38.053-04:00Right all units of measurement are subjective they...Right all units of measurement are subjective they are all just a matter of opinion they become objective when we all accept them. The price is what changes as a ratio the standard, we have tried a gold standard and we now have a dollar standard what we need is a currency standard. The price is what changes against the standard. If you were were on a raft you would pay 10,000 joules of currency Anonymoushttps://www.blogger.com/profile/01451818100096776218noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-15665801101848151392013-10-08T14:10:10.256-04:002013-10-08T14:10:10.256-04:00The first thing I did upon hearing about Bitcoin i...The first thing I did upon hearing about Bitcoin in February 2013 was to tackle this "regression theorem versus Bitcoin" issue in detail. I don't think there is any need to throw out Austrian monetary theory, but Bitcoin forces us to look into it a little more deeply. Before Bitcoin, we could still get away with more objectivistic laziness. Basically it is a non-issue, and mainly Konrad S. Grafhttp://konradsgraf.comnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-89715662581716800612013-10-08T13:44:35.561-04:002013-10-08T13:44:35.561-04:00You're just playing a definition game. They de...You're just playing a definition game. They define 'money' differently than you do. Your difference with them has nothing to do with the actual characteristics and use of BitCoin.Bharathttp://theinterventionistparadox.wordpress.comnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-30453394208790176242013-10-08T11:53:55.841-04:002013-10-08T11:53:55.841-04:00I find it Ironic that Under the Criteria of Bitcoi...I find it Ironic that Under the Criteria of Bitcoin meeting a certain threshold of use to be considered money by many Austrian Economists replying then Gold or Silver is not money either. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-65719556294962287912013-10-07T19:28:25.134-04:002013-10-07T19:28:25.134-04:00Professor Hoppe may have expressed early skepticis...Professor Hoppe may have expressed early skepticism, but he thought enough about Bitcoin to have me deliver a lecture about at a few weeks ago at the Property and Freedom Society Conference.Roman Skaskiwhttp://romanskaskiw.comnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-86371441703664665042013-10-07T19:02:26.238-04:002013-10-07T19:02:26.238-04:00By that standard currency has never ever existed a...By that standard currency has never ever existed and never will.<br /><br />The measurements you talk about all relate to something that can be fixed. But value is subjective, and never fixed, so no currency can ever have fixed value. <br /><br />The requirement is actually the opposite - the currency must have relative value otherwise it cannot respond to changes in the economy.<br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-6286987616265396232013-10-07T18:22:05.605-04:002013-10-07T18:22:05.605-04:00Value is subjective. I would value a ton of cucumb...Value is subjective. I would value a ton of cucumbers at zero (or at most their resale or compost value) while giving a great value to a "skunk smell" (I'm one of those weirdos that finds the smell of a skunk pleasurable) whereas most people would be the opposite. Even the value of gold is subjective. A man on a life raft with a pound of gold would trade it for a gallon of water. RDF2https://www.blogger.com/profile/14340534647561133098noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-27900774878556819652013-10-07T15:52:18.682-04:002013-10-07T15:52:18.682-04:00Okay so I figured out why bitcoin is not and can n...Okay so I figured out why bitcoin is not and can not be currency. <br /><br />Currency is supposed to be a measurement of value. It is supposed to represent the value of something. It does other things but mostly a representation of value. <br /><br />If you look at every system of measurement known to man every one of them is dependent on a unit of measurement. That unit is imaginary it doesn&#Anonymoushttps://www.blogger.com/profile/01451818100096776218noreply@blogger.com