Tag Archives: bitcoin

Patrick Byrne and the Blockchain by Ryan McMaken

McMaken cited an interesting article about the use of blockchain technology, made famous by bitcoin, to bypass the current middlemen for trading securities. Below is the relevant quote from the article cited by McMaken. ‘The DTCC is the clearinghouse for … Continue reading

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Pater Tenebrarum on the Moneyness of Bitcoin

The advent of crypto currencies, especially bitcoin, has focused debate on what constitutes money. As usual, we look to the Austrian school of economics for insight due to the fact that questions about the fundamental nature of money have been … Continue reading

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Mt. Gox Problems Mount by David Howden

“Mt. Gox Problems Mount” is the fourth article in a series about Mt. Gox, bitcoin, and fractional reserve banking written by David Howden. Bitcoin Bank Run by David Howden Bitcoin Bank Run, Take 2 by David Howden Bitcoin Banking by … Continue reading

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Bitcoin Banking by David Howden

David Howden provides a preliminary post mortem of Mt. Gox. ‘A currency is only as safe as the bank that stores it. Nowhere is this more apparent than in the recent turmoil in the bitcoin community.‘ ‘On 7 February of … Continue reading

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Bitcoin Bank Run, Take 2 by David Howden

David Howden expands his explanation of the suspension of bitcoin redemption by Mt. Gox. ‘So to summarize my claim, I have accused Mt. Gox of holding an insufficient amount of bitcoin in its “vault” to back all the claims to … Continue reading

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Bitcoin Bank Run by David Howden

“Bitcoin Bank Run” by David Howden. ‘Ever wonder what a digital bank run looks like? Nearly one million Mt. Gox users are finding out first hand. The Tokyo-based exchange, popular amongst currency traders, has risen in prominence by offering its … Continue reading

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The Monetary Status of Bitcoin

Money is a good that is highly fungible on the market. This is how it fulfills it role as a medium of exchange and also explains how a given money good emerged as money proper. How does Bitcoin fit into … Continue reading

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