Is a Columnist at The Atlantic Dissing Mises and Austrian Economics?

Anyone who has a passing familiarity with EPJ is aware that I have serious questions about the long-term viability of Bitcoin. That said, I do not view the enthusiasm for Bitcoin to be connected in any way to the monetary theory of Ludwig von Mises or the Austrian school of economics.

To be sure, there is enthusiasm for Bitcoin among some libertarians, but this enthusiasm should not be linked to a correct understanding of Mises' monetary theory..

Which brings me to Matthew O'Brien, a senior associate editor at The Atlantic. He has written a parody, in the form of a Nigeria scam letter, promoting Bitcoin. He does make some relevant points about some of the weaknesses of Bitcoin, but he also does a curious thing with regard to Mises and the Austrian school by linking them directly to the current Bitcoin fad, in his parody.

He writes:

BUT I HAVE UTMOST CONFIDENCE THAT YOU ARE EVEN SMARTER THAN EVEN SMARTER INVESTORS. YOU DON'T NEED TO DIVERSIFY. YOUR SAGE SAGACITY AND KNOWLEDGE OF LUDWIG VON MISES(REDUNDANT I KNOW) WILL LET YOU PICK OUT THE BEST "ALTCOIN."

and 

I HAVE USED MY DEEP UNDERSTANDING OF AUSTRIAN ECONOMICS TO INVENT THE BEST OF ALL POSSIBLE CRYPTOCURRENCIES. IT IS CALLED PONZICOIN. WHAT MAKES IT BETTER THAN BITCOIN OR DOGECOIN OR ANY OTHER COIN IS THE QUESTION YOU ARE WONDERING AND NOW I WILL TELL YOU FREE OF CHARGE. PONZICOIN HAS THE MOST LIMITED SUPPLY POSSIBLE AND THE MOST SECURE LOCATION POSSIBLE. AT ANY TIME THERE IS AT MOST ONE PONZICOIN AND IT ALWAYS STAYS WITH ME. BUT IT IS INFINITELY DIVISIBLE SO YOU CAN BUY AS SMALL A PART AS YOU LIKE AND I WILL SEND YOU A CODE TO VERIFY YOUR HOLDING. PONZICOIN HAS LITERALLY UNLIMITED USES BUT THE PRIMARY ONES ARE SELLING IT TO THE GREATER FOOL AND BUYING STAMPS.

Perhaps O'Brien is mocking the view of those Bitcoin enthusiasts who think Misesian monetary theory supports the idea that Bitcoin will survive and prosper, but he also may be attempting to link Mises and the Austrian school to Bitcoin. Such a link would be preposterous. As I have pointed out in a post, Murray Rothbard: Bitcoin is a Crank Scheme, Rothbard discussed Bitcoin type schemes and understood that they failed to meet the basic criteria outlined by Mises for it to be money.