Posts Tagged ‘Mises’

Reconciling the Regression Theorem with Bitcoin

Thursday, June 6th, 2013   Submitted by Michael Hendricks

Regression

When Austrians argue about Bitcoin there seems to be two basic camps. On the one hand there are those who use the regression theorem to argue that Bitcoin isn’t money, and on the other there are Bitcoiners who don’t see the regression theorem as relevant to Bitcoin at all. The regression theorem applies to Bitcoin in the same way that modern evolution theory applies to Darwinism. The regression theorem explains the origins of money, but it does not explain the current state of the money market.

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Bitcoin Skepticism and Bitcoin Fever

Friday, April 12th, 2013   Submitted by Roman Skaskiw

BitCrashSkepticism of Bitcoin usually begins, quite reasonably, by citing its lack of intrinsic value. In this regard, it compares unfavorably to gold, as discussed recently by Patrik Korda on Mises.org.

The second reason for recent Bitcoin skepticism is its meteoric (some would say bubble-like rise), which indeed experienced a sharp correction the day after Parik’s article. Time will surely tell, but for the impatient, the philosophers and the gamblers, I offer these reasons for measured optimism in everything but the very-long term.

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