Classical Economics in a Quantum World
Equity vs Crypto When you buy a stock, you become a shareholder of a company. The most common stock equity ownership is common shares. Your shares entitle you to be compensated ratably for the value of the company according to…
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George Gilder asked for my comment on the new expandable cryptocurrency AMPL. My reply. George, I haven’t heard of AMPL or YAM, but I think the author Koning has characterized them correctly. They are just another in the long…
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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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A ratio of two ratios determines the dollar price of gold. Dollar supply (base money) ———————————— Dollar demand (base money) ——————————————————– …
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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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Craig Wright, the Australian mathematician and serial academic credential achiever, is widely associated as Satoshi Nakamoto. Andrew O’Hagan wrote The Satoshi Affair, a long account of the events leading up to Wright’s public failure to prove he is Satoshi. Wright…
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