16 Mar '13, 10am

How Cryptocurrencies Like Bitcoin Could Upend Central Banking

I recently had a fascinating chat with the economist Peter Šurda to discuss how nonpolitical cryptocurrencies like bitcoin could alter the future of fractional reserve banking. The debate between the full reserve bankers and the fractional reserve bankers is an old one and it has been explored in depth by the Austrian school of economics. More recently, the debate has been broadened to include the dynamics of introducing the bitcoin cryptocurrency, which is the functional equivalent of digital gold, since its supply is predictable and fixed.

Full article: http://maxkeiser.com/2013/03/16/how-cryptocurrencies-like...

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