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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...
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"Bitcoin advocates believe they are furthering the cause of libertarianism, but objective-value libertarians see Bitcoin as a threat to the very notion of libertarianism in which gold must be the medium of exchange." That makes sense, and I...
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One of the key misunderstandings of people reading the regression theorem is they focus on the word 'commodity' and then knock bitcoin as having no commodity value. Money needs to be a commodity only because each unit needs to to be identical...
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Smiling Dave: The answer is, yes it does, for those transactions in which it was used. But it is certainly not a medium of exchange in those transactions in which it was not used. Well, can't argue with that genius logic :P One should note that the...