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  • Re: Bitcoins *prove* Mengerian account of money creation?

    Gold bugs also need to educate themselves on the history of digital money and where Bitcoin fits into the picture. The attempts at "digital gold currencies" that sprung up shortly after the widespread adoption of the World Wide Web (1996 for e-gold) were specifically attempts to bypass statist controls over money and to provide a free-market
    Posted to Economics Questions (Forum) by kendo451 on Mon, Oct 1 2012
  • Re: Bitcoins *prove* Mengerian account of money creation?

    Bitcoin does not contradict the Regression Theorem. First, the original use of Bitcoin was found in a barter market - Silk Road. Second, information is a discrete non-material substance that can, and often does, have value. In fact, the primary reason that labor alone does not create value is that labor must be combined with materials and guided by
    Posted to Economics Questions (Forum) by kendo451 on Mon, Oct 1 2012
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