bitcoin

Bitcoin Will Never Circulate As Money, But Amazon and Walmart Will

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Do you take Amazon or Walmart dollars? In the question it’s easy to see the problem with bitcoin, and other well-known speculations. People aren’t prone to storing their wealth meant for essentials in speculative instruments. Which is why bitcoin will never be broadly circulated as money. See its well-documented turbulence. Really, who would speculate […]

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‘Crypto Reserve’ Misunderstands Money, Shows Why It’s Not

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Wise minds inside any presidential administration would quickly sell every barrel of oil presently stored in the Strategic Petroleum Reserve. Forgetting for a minute that there’s nothing about energy or energy policy in the Constitution, why on earth would any government stockpile a global commodity that, for being global, is always and everywhere accessible

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Tether & Bitcoin Have a Big, Routinely Ignored Dollar Problem

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Private, or “crypto” money will eventually replace government money. Bank on it. As written in The Money Confusion, profits from the trading of fiat currency chaos ($7 trillion per day worth of currency trading) ensure the eventual erasure of those margins. The speculation here is that stable, private money will be the instigator of the

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Bitcoin’s Fixed Supply of Coins Remains Its Biggest Demerit

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Bitcoin “doesn’t trade on fundamentals, but supply and demand.” The previous point was made in a recent column meant to explain the surging value of the most prominent crypto concept.  In the same column penned by Giedre Valaviciute, he cited a response from an investor who’s made millions on bitcoin. Asked why he put

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So Long As Bitcoin Is Loud Price Story, It Won’t Ever Be Money

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Bitcoin in its present, high-profile form cannot be money. About the previous assertion, it should in no way be taken as a knock on crypto, or private money more broadly. Evidence supporting the previous statement can be found in my 2022 book The Money Confusion: How Illiteracy About Currencies and Inflation Sets the Stage

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‘Satoshi Nakamoto’ Is Why Bitcoin Will Never Be Money

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“They’re on track to becoming the richest person on earth eventually.” Those are the words of Cullen Hoback, creator of a new HBO documentary (“Money Electric: The Bitcoin Mystery”) which purports to having perhaps uncovered the actual person behind “Satoshi Nakamoto,” creator of Bitcoin. To be fair to Hoback, he’s not offering certitude, rather he speculates

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