Thursday, February 13, 2014

Using the Zombacalypse

To hock bitcoins.  Interesting.

It's just money.  Or trying to be.  With advantages and disadvantages just like other money.

There are three fundamental things we want a money to do:

1) We want money to maintain a stable domestic price level.
2) We want money to maintain a stable relationship against other currencies.
3) We want money to be freely convertible into goods, including other moneys.

Pick two.   Bitcoin might one day do 2 and 3.  Not yet, but maybe one day. 

Bitcoin has some advantages and disadvantage over the last money, gold, that did 2 and 3.  But why not

1 comment:

Old NFO said...

But like our currency there is not a damn thing 'backing' bitcoin...