An MMT site bringing you dogma-free economics without the pleadings of self interest
It's actually more interesting to look at as a currency rather than a paypal replacement. It appears to be managed by a bunch of anti-fiat people who intentionally designed the system to be deflationary. One interesting bit is that they've pre-set the rate at which new coins will be issued. So there are wild swings in the bitcoin value depending on currency demand. They are apparently discussing the possibility of extracting a fee from savings to prevent hoarding and to reclaim bitcoins from lost wallets. Compare this to a targeted inflation to prevent hoarding... interesting. Also the method they've chosen to inject new assets into the system, the mining system.
A new asset class to keep an eye on.
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