Tag: economics

Dec 05 2021

Examining The Lindy Effect And Bitcoin

What is the phenomenon referred to as the Lindy Effect, and how does it relate to Bitcoin?As Bitcoin quickly approaches its teenage years, it’s time to dig into why the fact that it has survived this long makes it incredibly likely that it will continue to survive, and thrive long into the future. In this article we examine The Lindy effect. We...

Dec 04 2021

How Bitcoin Has Characteristics Of Veblen Goods

What are Veblen goods? How are they different from regular goods and commodities and how is bitcoin a Veblen good?Watch "Bitcoin Is A Veblen Good" On YouTube. For most products and services, there is an inverse...

Dec 03 2021

How Bitcoin Rectifies Easy Money’s Destruction of Growth And Prosperity

Central bank interventions in the monetary system - from lowering interest rates to printing money - do not change peoples’ saving and spending behavior: They only redirect it.We live in a highly politicized world today - we spite our neighbors, refuse to watch certain news channels, and increasingly ignore any information which counters our own preconceived views. Our wealth gap in the...

Nov 16 2021

How Does Gresham’s Law Relate To Bitcoin?

How do we define good and bad money, and how does that relate to the economics surrounding bitcoin?To many, bitcoin is the soundest money the world has ever seen. In this article we dive into Gresham’s law and discuss how bitcoin will eventually overtake the dollar, and all other fiat currencies. We cover what Gresham’s law is, how it relates to bitcoin,...

Nov 10 2021

The End Of Super Imperialism

How the U.S. succeeded in turning the dream of monetary imperialism into our current inequitable reality, and how Bitcoin offers a new standard.In 1972, one year after President Richard Nixon defaulted on the dollar and formally took the United States off of the gold standard for good, the financial historian and analyst Michael Hudson...

Nov 09 2021

Why The Freedom To Choose Your Money Is Important

To be considered a free society, one must have the ability to choose the most free form of money.IntroductionThe current system of government in the U.S. has a bad reputation among many Bitcoiners and arguably for good reason. This system is loosely called a “democracy” but appears to be more a tyranny of the majority. A democratically elected government that has...

Oct 22 2021

Why You Can't Have A PPE Curriculum Without Bitcoin

Bitcoin is clearly a social phenomenon worthy of study for a proper philosophy, politics and economics (PPE) degree.In 1920, the toffs at the University of Oxford decided that those students with ambitions of entering public service needed a better degree to equip them for a modern, post-War world....

Oct 21 2021

The Turkish Tribal War Against Bitcoin

Bitcoin could help rectify malinvestment and unsustainable development, if only embraced by a currently hostile Turkish government.Turkish President Recep Tayyip Erdoğan said, “We are in a war against cryptocurrencies,” on September 18, 2021. Merriam-Webster defines war as “a state or period of fighting between countries or groups.” I...

Oct 19 2021

Understanding The Interest Rate Fallacy: The Risks Of Holding Fiat

Today’s low interest rate climate is one that further reduces the opportunity cost of holding base, fiat money — a fallacy fixed by Bitcoin.“After the U.S. experience during the Great Depression, and after inflation and rising interest rates in the 1970s and disinflation and falling interest rates in the 1980s, I thought the fallacy of identifying tight money with high interest rates...

Oct 05 2021

Gresham's Law Does Not to Apply to Bitcoin In El Salvador

The economic rule discussed in a previous article doesn’t take these two factors specific to bitcoin’s situation in El Salvador into account.Austrian economists have long been interested in the study of money and the processes of monetization. The last global monetary standard that developed largely through market forces, gold, occurred well before the Austrians had performed their work on the topic. The...

Oct 03 2021

Fiat Money Is Babel, Bitcoin Is Clarity

Fiat obstructs true price signals which convey economic reality, and bitcoin fixes this.Come, let us go down and confuse their language so they will not understand each other.-Genesis 11:7The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. ...

Oct 02 2021

Microeconomics And Fiat: The Bear Case For The U.S. Dollar

Economics demands that the dollar continue its long journey to a value of zero.Written September 15, 2021The goal of this article is to unite and create a coherent argument around the basic microeconomic idea of price equals marginal cost (P=MC), of fiat money as a product, and how bitcoin relates to these two. I must warn all readers that this is...

Sep 08 2021

Bitcoin: The Future Of Money And The World Economy

The true innovation behind Bitcoin is the ability to transact value instantly around the world.Saifedean Ammous and Peter St. Onge, in my opinion, are the thought leaders on the...

Sep 02 2021

Top Five Economics Books To Learn Bitcoin

These books can help you expand your bitcoin knowledge, as well as your understanding of the world.In this article, we will outline some of the best resources for learning about why failing economic practices led to the invention of bitcoin, by exploring first principles of economics, through the Austrian economics viewpoint.“Economics In One Lesson” - Henry...

Aug 29 2021

Bitcoin: The First And Final Rival Money

Aug 29 2021 Published at Bitcoin Magazine under tags  bitcoin business covid19 economics fiat

A Weekly Series Of Essays About The Language Of Bitcoin by Alex McShaneLingua Contra ImperiumThe Language of Bitcoin: 3TL;DR - Bitcoin is the first monetary technology of its kind. It is also the last. If you insist on summing up our good and sound money with a broken monetary measure such as the dollar, you will forever be confused about the state...

Jul 12 2021

The Schumpeterian Bitcoin Cycle

There are countless elements in Bitcoin that structurally instill the process of Schumpeterian creative destruction into its ecosystem.Bitcoin embodies Schumpeterian creative destruction. Bitcoin also behaves like a physical natural resource, with unique differences that make it a driving force for effecting fundamental change, much like gold, oil or electricity has done.Bitcoin goes through periodic cycles...

May 17 2021

The Fiat Mindset: Why Most Economists Don’t Get Bitcoin

Modern economists are often vehemently opposed to bitcoin and its application as money - why is this?Josef Tětek is a SatoshiLabs and Trezor Brand Ambassador.It’s a tulip mania, a Ponzi scheme, a bubble about to burst. You’ve heard it all before. And not just from your nocoiner friends: This narrative has been pushed for years by many famous economists with a...

May 06 2021

Bitcoin: Solving The Elusive Monetary Problem

This deep dive explores what problems plague our modern monies, and how bitcoin cures these issues.“Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” -Abraham LincolnTo understand the implications of a paradigm changing technology, one must intimately understand the problem that is being addressed. If we do not understand the problem...

Apr 26 2021

Gresham, Thiers And Demanding Payment In Bitcoin

Apr 26 2021 Published at Bitcoin Magazine under tags  culture economics markets

Two laws describe the economic incentives given two forms of competing money in restricted or unrestricted markets.There is a widely held belief among Bitcoiners that a hyperbitcoinized future, one in which bitcoin fulfills the three characteristic functions of money for our global society (store of value, medium of exchange and unit of account), is inevitable. All that remains to be seen is...

Apr 14 2021

Bitcoin: The Ultimate Opportunity Cost

Apr 14 2021 Published at Bitcoin Magazine under tags  culture economics inflation memes

Upon realization of Bitcoin’s true value, one must reconcile their economic opportunity cost with their new reality.Attention, fellow bitcoin wealthy plebs; I’ve been summoned to write about the corn, and there is one topic that’s constantly in the back of my mind, creeping into every decision: The Bitcoin opportunity cost....

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