At least some Libertarians don't think that Bitcoin trumps gold and silver or that it will compete seriously with state money as the medium of exchange.
My view is that this is experimental and it is way early to tell anything about the results of the experiment. It's like writing off Occupy now because it is no longer in the news. Digital currency and resistance are just making their debut. We'll have to wait and see how this plays out over time.
Zero Hedge
The Money-ness of Bitcoins
Nikolay Gertchev | Ludwig von Mises Institute
Zero Hedge
The Money-ness of Bitcoins
Nikolay Gertchev | Ludwig von Mises Institute
2 comments:
What if the US government announced that it would accept Bitcoins in payment for tax obligations? Would that development create more demand for them and make them more ubiquitous?
What if the US government announced that it would accept Bitcoins in payment for tax obligations? Would that development create more demand for them and make them more ubiquitous?
Yes. It would reduce the need to obtain state currency.
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