Op-Ed: My Pair Trade - Long Bitcoin/Short Scotland
If Scotland votes to secede this should be extremely positive for Bitcoin. In chaos theory, there is a famous metaphor called the butterfly effect: it states that small changes in one place in a complex system can have large effects elsewhere. What is a complex system? Essentially it is a collection of decision making objects (people), competing for limited resources armed with some kind of information about the past and present. According to Neal Johnson, author of Simply Complexity: a clear guide to complexity theory, there are 4 components which make up a complex system: I believe this....
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Although Scotland has yet to vote whether or not to secede from the United Kingdom, pundits have already begun debating how an independent Scotland should structure its society - specifically its monetary policy. Theorists have noted that, if the Scots vote "yes" on the independence referendum, Scotland could prove a perfect testing ground for large-scale bitcoin implementation. Naysayers argue that free banking systems are unsustainable, pointing to the so-called "free banking" era in 18th and 19th century Scotland. Consequently, if Scotland's independence vote passes and bitcoin becomes....
Scotland is being urged to create its own digital currency. Known as the ScotPound, the currency would operate in an identical manner to bitcoin. A Scottish think tank is suggesting that approximately S�250 be given to every citizen in order to jumpstart activity and get the "ball rolling" on the United Kingdom's latest trend in digital finance. Scotland's economy is undergoing a period of slow growth, and the NEF believes that this new currency could be a positive method for increasing individual spending power amongst citizens while preventing an increase to Scotland's national debt.....
A referendum on whether Scotland should be an independent country will take place tomorrow, Thursday, 18th September 2014. To pass, the independence proposal requires a simple majority of about 4 million voters. According to recent polls, it's going to be a close call. What will happen to Scotland's economy if the YES have their way, and what role might Bitcoin play? Pound, Euro, or Bitcoin? SNP leader Alex Salmond has insisted an independent Scotland could not be prevented from using the pound, but the National Institute of Economic and Social Research (NIESR) thinks Scotland would....
The Scottish referendum is well known to anyone who has been following the news closely. Scotland, which is currently part of the United Kingdom, has expressed its desire to be independent. On this topic, the people of Scotland held a referendum where they voted for or against Scotland's separation from the country. While the voters against independence won with a narrow margin, one of the concerns raised about the after-effects of independence was about currency. Scotland has been and still uses the pound sterling as its currency, and splitting from UK would have meant changing their....
Yes/No to Scottish Independence? Scotland has recently been trying to gain its independence from the United Kingdom once again. Throughout the last thousand years there have been a few times that Scotland has tried to gain its independence. In the early 13th Century the Scottish nobility were in dispute after Alexander III, the then King of Scotland, died young without leaving an heir as his three children had died within a short period of years previous to his own death. King Edward I of England was invited by the nobility to help decide upon a new king. However, Edward betrayed the Scots....