29 Dec '13, 6am

Regression theorem and bitcoin: Here is a letter I received about the Regression theorem: Dr. Block, I’ve been...

In my view, the regression theorem is apodictic, praxeological. This brings up the question of the bitcoin. It is not yet money. It is not now a generally accepted means of final payment. But it is now at least a quasi money. More than just a few people treat it as a money. Probably, the govt will soon blow this out of the water with regulations, taxes. But, if not, it might become a money. If so, would this be a violation of the regression postulate? Yes, if we interpret it as saying that nothing cannot become a money unless it was at one time a valuable COMMODITY. Of course, bitcoins were never a valuable commodity. But, if we more sympathetically interpret the regression theorem not in terms of a commodity, but in terms of SOMETHING of value, then when and if bitcoin becomes a money, it will not contradict the regression theorem for, surely, before it became a money (if...

Full article: http://bastiat.mises.org/2013/12/regression-theorem-and-b...

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Goldman Sachs Director to Join Board of Bitcoin Startup Circle

Goldman Sachs Director to Join Board of Bitcoin...

coindesk.com 28 Dec '13, 12pm

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Everyone Who Believes In Bitcoin Should Try To Answer This Question

Everyone Who Believes In Bitcoin Should Try To ...

businessinsider.com 29 Dec '13, 12pm

poses a great question about Bitcoin : Underpinning the value of gold is that if all else fails you can use it to make pre...