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Interesting to see this at a Mises-related blog. I'm not deeply into Austrian economics, but I was under the impression that Austrians didn't think much of eith
by _delirium 13y ago
Interesting to see this at a Mises-related blog. I'm not deeply into Austrian economics, but I was under the impression that Austrians didn't think much of either Bitcoin or other cryptocurrency alternatives. Aren't all cryptocurrencies at fundamental odds with Ludwig von Mises's "regression theorem" [1], which posits that legitimate currencies can only originate "naturally" as an outgrowth of real commodity trade, and cannot be artificially constructed as currencies?
[1] http://books.google.com/books?id=xFsaVHBXlNkC&pg=PA61&dq=%22regression+theorem%22 http://books.google.com/books?id=xFsaVHBXlNkC&pg=PA61&dq=%22...
- DanielKrawisz 13y agoYou should check out one of my other articles, The Original Value of Bitcoins, which explains the relationship of Bitcoin to the regression theorem. http://themisescircle.org/blog/2013/07/02/the-original-value-of-bitcoins/ http://themisescircle.org/blog/2013/07/02/the-original-value... There is also relevant work done by Peter Surda http://dev.economicsofbitcoin.com/mastersthesis/mastersthesis-surda-2012-11-19b.pdf http://dev.economicsofbitcoin.com/mastersthesis/mastersthesi... and Konrad Graf, whose work is definitive, but significantly longer. http://konradsgraf.com/blog1/2013/11/3/expanded-on-the-origins-of-bitcoin-paper-with-empirical-supp.html http://konradsgraf.com/blog1/2013/11/3/expanded-on-the-origi...