Classical Economics in a Quantum World
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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Let’s say that in 1971 you understood what the end of Bretton Woods and the ushering in of the global fiat system meant. You understood that the severing of BW’s gold link and the absence of any monetary standard 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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The International System of Units (SI), commonly known as the metric system, has seven basic units of measure. the kilogram (kg), for mass the second (s), for time the kelvin (K), for temperature the ampere (A), for electric current the…
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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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Gold has been money for thousands of years. Gold standards emerged in the late 1600s, and for 300 years major economies of the world were on a gold standard of some form. What is interesting is that there is no…
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The Normal “The normal” was Fed operating policy from 1913 – 2008. The Fed had direct control of the supply of base money and the ability to match it to demand. By direct control I mean when the Fed created…
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The guests mingled. The dinner, toasts, acknowledgments, and speeches had ended. Spirits were high and none more so than George Gilder. This was his night. It was August 24, 2016, and George had wrapped up his Telecosm event at The…
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How Economic Policy Influences War As noted in Part I, Hue 1968 – War and Economics, Bowden gives a historical overview of Vietnam and its geopolitical role. Ho Chi Minh initially made positive overtures toward the U.S. at the end of…
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