Here's my interview with @ErikVoorhees about #Bitcoin; if you're Bitcoin-curious, have a listen! #tlot #endthefed

Curious About Bitcoin? | Tom Woods

tomwoods.com 11 Mar '13, 3am

Here's my interview with @ErikVoorhees about #Bitcoin; if you're Bitcoin-curious, have a listen! #tlot #endthefed

First thing’s first: Bitcoin is not a commodity, and therefore fails the Regression Theorem. Second, here’s a thought experiment: 1) Bitcoin limit is 21 billion 2) Citcoin (a made-up digital currency, for argument’s sake) limit is the same, but each is worth 1,000 Bitcoins. Boom: inflation. 4) Ditcoin limit is the same, but each is worth 1,000 Citcoin, etc., etc. Basically, unlimited inflation. 5) Someone’s going to blame the free market for the booms and busts created by the various digital currencies and wonder why, oh why, can’t government (or a global central planner – probably ostensibly “private”) just ban the private use of bitcoins, and we’ll go ahead and snitch on our neighbor if we catch them using it. Third, if Bitcoin is so distributed that it cannot be confiscated, shut down, etc., then it is also so distributed that it would be one person’s word against anoth...

Full article: http://www.tomwoods.com/blog/curious-about-bitcoin/

Tweets

@LitMargaretNan » 11 Mar '13, 3am
RT @ClassicalLiber: Curious About Bitcoin? [link] #teaparty #tcot
@voluntaryist4 » 11 Mar '13, 3am
[link] Curious About Bitcoin?: I was, so last Friday, while hosting the Peter Schiff Show, I in... [link]
@riosmauricio » 11 Mar '13, 3am
Tom Woods: Curious About Bitcoin? [link] #tlot
@AZ4RonPaul2012 » 11 Mar '13, 3am
via @ThomasEWoods Curious About Bitcoin? [link]
@ClassicalLiber » 11 Mar '13, 3am
Curious About Bitcoin? [link] #teaparty #tcot
@LibertyIsNow » 11 Mar '13, 3am
Curious About Bitcoin? [link] #tlot #amagi #tcot
@MattChallacombe » 11 Mar '13, 3am
RT @ThomasEWoods: Here's my interview with @ErikVoorhees about #Bitcoin; if you're Bitcoin-curious, have a listen! [link] #tlot #endthefed
@ThomasEWoods » 11 Mar '13, 3am
Here's my interview with @ErikVoorhees about #Bitcoin; if you're Bitcoin-curious, have a listen! [link] #tlot #endthefed