Classical Economics in a Quantum World
More on the problem and solution for cryptocurrency. Delineating the Crypto Space follows The Protocol Layer, Cryptocurrency Market Valuation II, and Free Banking and Cryptocurrency. The Big Picture The cryptocurrency blockchain space appears to be a chaotic morass of…
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Free Banking and Cryptocurrency is next in my series of looking at the problem and solution for cryptocurrency. Previously in the series is The Protocol Layer and Cryptocurrency and Market Valuation II. The U.S. Free Banking Era It is not…
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I continue to look into the problem and solution for cryptocurrency. Previously, I discussed The Protocol Layer. The Price and Market Cap of Currency What are the two metrics people look at If they want to judge the efficacy of…
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When I first looked at Bitcoin in 2016, it was immediately obvious to me that, as designed, bitcoin wouldn’t work as a transactional currency. The bitcoin flaw. No currency has ever existed in fixed supply. An extremely primitive example is…
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In March 2019, Bitwise Asset Management made a presentation to the SEC to launch a Bitcoin ETF. On October 9, 2019, the SEC disapproved Bitwise’s proposal. This follows the rejection by the SEC of every previous bitcoin ETF proposal, including…
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Why the U.S. could return to a gold standard at $1300/oz without risk of inflation or deflation There are two prices of gold. There is the market spot price of gold (POG) and an optimum POG which represents the price…
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George Gilder sent me a pre-publication draft of The Bitcoin Standard by Saifedean Ammous. We exchanged many emails on the topic of Bitcoin and cryptocurrency. This is Part II of my reply to George after reviewing The Bitcoin Standard. *…
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George Gilder’s new book, Life After Google, is out today. In October 2017 George sent me a draft of Saifedean Ammous’ book, The Bitcoin Standard. I was excited to read Saifedean’s draft because Bitcoin offers tremendous promise. I quickly realized that…
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Cryptocurrency’s value comes from its fixed supply, deflationary design combined with the promise of digital, decentralized transactions recorded on a permanent blockchain ledger. But its flawed monetary design, that is the underlying reason for its value, makes it unsuitably volatile…
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In Part I, I examined Wright’s monetary views expressed in The illusion of scale in segregated witness. It is a rehash of Friedman’s failed monetarism experiment of the 70s, with fixed money supply instead of constant supply. Monetarism without an…
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