Store of Value

“In order for something to become money it first needs to become a store of value, for that it needs to be desired for the long term and when everyone finally wants it, then it can be traded by anything” – @bitcoinization

Satoshi Nakamoto

Between 2008 and 2012, a pseudonymous programmer (or programmers) going by the name Satoshi Nakamoto shared with the world a brilliant vision and the code to build it.

Mempool

Fractional Reserve Banking is Obsolete

Pierre Rochard February 22, 2013 In the definitive treatise on Austrian Business Cycle Theory, Money, Bank Credit, and Economic Cycles, Jesús Huerta de Soto establishes the inevitability of economic crises wherever there is fractional reserve banking. All that is left for monetary scholars to do is analyze past crises and lobby the government to have the right reforms. …

End the Fed: Hoard Bitcoins

Pierre Rochard February 19, 2013 The libertarian strategy for undermining fiat currencies has always centered on making gold and silver viable alternatives. This effort has failed because it is impossible to compete against a digital currency, like the dollar, with a physical commodity due to the high transaction costs associated with the latter. The only way metals can …

Working and Saving are Revolutionary Acts

Pierre Rochard December 24, 2012 Government exists because it is, de facto, the equilibrium solution to providing judicial and defense services. This equilibrium is the result of ideology, high transaction costs, and strong asset specificity. To change this equilibrium, should we try to persuade people that our ideology is the right one, or should we work on reducing transaction …

Freedom