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Four Valuable Lessons From Actually Reading the Regression Theorem.

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Smiling Dave Posted: Mon, Apr 15 2013 9:52 PM

And now, what everyone has been waiting for. There follows a link to a humble article called Four Valuable Lessons From Actually Reading the Regression Theorem.

The four lessons, proven beyond doubt from Mises own words, are:

1. Every money needs a yesterday, meaning “[it must be] linked with a preexisting market exchange ratio between money and other economic goods”. Bitcoins have no yesterday, so they have no today or tomorrow either.

2. Cost of production is not a valid yesterday.

3. “Intrinsic value” is a meaningful and appropriate phrase, in the proper context, even given that all value is subjective.

4. Fiat money has a yesterday, and thus does not violate the regression theorem.

But Dave, where is the humble link to your humble article? Right here:

https://smilingdavesblog.wordpress.com/2013/04/16/four-valuable-lessons-from-actually-reading-the-regression-theorem/

 

My humble blog

It's easy to refute an argument if you first misrepresent it. William Keizer

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Can you purchase any products with Bitcoins?

http://thephoenixsaga.com/
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Did you even read the article? The last paragraph?

My humble blog

It's easy to refute an argument if you first misrepresent it. William Keizer

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Smiling Dave:

Did you even read the article? The last paragraph?

 

I did not. Do you answer the question on whether vendors accept Bitcoin as payment?

http://thephoenixsaga.com/
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shackleford:
Can you purchase any products with Bitcoins?

You can buy all kinds of things with them.  Check out Bitmit and Bitcoinstore, the Ebay and Amazon of the bitcoin economy, and this article: Where to Spend Your Bitcoins.  There are directories full of places offering goods/services for bitcoins (e.g. here, here and here).  And then there is The Silk Road, a bitcoin-only drug marketplace with sales equivalent to $1.7m a month across 600 sellers.

 

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HabbaBabba replied on Fri, Apr 19 2013 12:19 AM

Bitcoins not cool enough? Spend 2.90 bitcoins, for your very own... 1 BITCOIN:
https://www.bitmit.net/en/item/17072-1-btc-casascius-series-2-including-plastic-capsule

Hipsters...

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