Cryptocurrency
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The First Government Crypto Was a Fiasco
Ever since the invention of cryptocurrency, people have asked whether governments will just create their own to compete directly with private issuance. Many governments have talked about doing so. In the greatest of ironies, it was Venezuela (socialist “paradise” of hunger, poverty, and massive emigration) that has made the most public attempt with the pre-sale…
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Crypto vs. Fiat: The Battle Is On
You might be living in a time in which you will experience the end of central banking and perhaps even fiat currency, and their replacement by a completely new system.
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Does the Developed World Need Cryptocurrencies?
Liberty Street Economics, the New York Fed’s blog, recently did a question-and-answer session with Fed economists Michael Lee and Antoine Martin about cryptocurrencies. It’s a largely neutral and factual interview, but the economists do make one provocative comment: “Cryptocurrencies arguably solve the problem of making payments in a trustless environment, but it is not obvious…
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The Source of Terrible Ideas, and Great Ones
The parable of top-down socialism vs. bottom-up Bitcoin tempts one to adopt a general theory of the relationship between ideas and social change. It might be the case that bad ideas come from the top down and good ideas from the bottom-up, as a general expectation and principle. That seems to cover most use cases,…
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Why the Crypto Community Needs to Support AIER
We’ve worked to counter the negative opinions of people at once-mighty institutions like the Bank for International Settlements and on. And the research you read here truly matters. AIER is not just another Medium account; it is one of the world’s most respected voices in economics. We have both the credibility and longevity. To win…
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Large Businesses Might Adopt Blockchain Technology Faster Than Individuals
Blockchain technology won’t truly be pervasive until people gain enough intuitive understanding of the technology to trust it. That could be a slow process.
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The Digital Denationalisation of Money
Cryptocurrencies are still quite new and seem to just be scratching the surface of their potential. If they are to succeed — not only as a fringe medium of exchange or speculative investment, but as real competitors with government currencies — some new programmers are going to have to come along and make currencies whose…
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Party Like It’s 1999: The Beautiful Inevitability of a Bubble in Blockchain Startups
Is there a bubble in the ICO/blockchain startup space? Short answer: yes. Long answer: still yes, but it involves very little of the irrationality most people associate with such things, and shows just how important the underlying blockchain technology truly is.
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Blockchain Works Like Money in Yap
Blockchain is a technical innovation. But it is not an innovation in how we aspire to live. There is a big difference. The blockchain allows people to achieve something we have always wanted to do but haven’t been able to do until now. The stone money on the island of Yap is an example.
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What Would a Dotcom-Style Crash Look Like in the Cryptocurrency Space?
The bursting of bubbles can make insutries stronger.
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The First Government Crypto Was a Fiasco
Ever since the invention of cryptocurrency, people have asked whether governments will just create their own to compete directly with private issuance. Many governments have talked about doing so. In the greatest of ironies, it was Venezuela (socialist “paradise” of hunger, poverty, and massive emigration) that has made the most public attempt with the pre-sale…
-
•
Crypto vs. Fiat: The Battle Is On
You might be living in a time in which you will experience the end of central banking and perhaps even fiat currency, and their replacement by a completely new system.
-
•
Does the Developed World Need Cryptocurrencies?
Liberty Street Economics, the New York Fed’s blog, recently did a question-and-answer session with Fed economists Michael Lee and Antoine Martin about cryptocurrencies. It’s a largely neutral and factual interview, but the economists do make one provocative comment: “Cryptocurrencies arguably solve the problem of making payments in a trustless environment, but it is not obvious…
-
•
The Source of Terrible Ideas, and Great Ones
The parable of top-down socialism vs. bottom-up Bitcoin tempts one to adopt a general theory of the relationship between ideas and social change. It might be the case that bad ideas come from the top down and good ideas from the bottom-up, as a general expectation and principle. That seems to cover most use cases,…
-
•
Why the Crypto Community Needs to Support AIER
We’ve worked to counter the negative opinions of people at once-mighty institutions like the Bank for International Settlements and on. And the research you read here truly matters. AIER is not just another Medium account; it is one of the world’s most respected voices in economics. We have both the credibility and longevity. To win…
-
•
Large Businesses Might Adopt Blockchain Technology Faster Than Individuals
Blockchain technology won’t truly be pervasive until people gain enough intuitive understanding of the technology to trust it. That could be a slow process.
-
•
The Digital Denationalisation of Money
Cryptocurrencies are still quite new and seem to just be scratching the surface of their potential. If they are to succeed — not only as a fringe medium of exchange or speculative investment, but as real competitors with government currencies — some new programmers are going to have to come along and make currencies whose…
-
•
Party Like It’s 1999: The Beautiful Inevitability of a Bubble in Blockchain Startups
Is there a bubble in the ICO/blockchain startup space? Short answer: yes. Long answer: still yes, but it involves very little of the irrationality most people associate with such things, and shows just how important the underlying blockchain technology truly is.
-
•
Blockchain Works Like Money in Yap
Blockchain is a technical innovation. But it is not an innovation in how we aspire to live. There is a big difference. The blockchain allows people to achieve something we have always wanted to do but haven’t been able to do until now. The stone money on the island of Yap is an example.
-
•
What Would a Dotcom-Style Crash Look Like in the Cryptocurrency Space?
The bursting of bubbles can make insutries stronger.