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:

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

    ReplyDelete

I reserve the right to delete patently offensive comments. Or, really, any comment I feel like. Or I might leave a really juicy comment up for private ridicule. Also spammers.

You can always offend hippies in the comment section. Chances are, those will be held up as a proper example...