Why a State Monopoly on Money is Always Bad
Why a Monopoly on Money is Bad! In March of this year, The Economist, publishedan article entitled: Prophets for Today. This article discussed the relative merits of the works of those two great economic heavyweights of the twentieth century: John Maynard Keynes (1883-1946) and Friedrich Hayek ( 1899-1992). In his book Denationalisation of Money (1976), Hayek undertook a deep analysis of the theory and practice of concurrent currencies and concluded: "It is an extraordinary truth that competing currencies have until quite recently never been seriously examined. There is no answer in the....
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Until now, Colombians have had to rely on foreign services and exchanges in order to buy and sell Bitcoins. The problematic nature of this was illustrated best by the failure of Tokyo-based exchange Mt. Gox many moons ago. Regardless of whether you trust a foreign exchange are not, in the event that you lose your money, your options for recuperation are limited. Enter CriptoBanco, a trading platform launched by Merkabahnk with the help of Mimetic Markets. It has a wallet hosted by the world leader in cryptocurrency security, BitGo, who, as we recently reported, now offers the additional....
The anti-monopoly service of Russia has suggested that Russians minting digital currencies at their homes should pay more for the spent electrical energy. The proposal comes after the submission of a bill tailored to regulate cryptocurrency mining to the Russian parliament.
Russian Miners Using Household Electricity Should Pay Higher Bills, Anti-Monopoly Body Says
Russia’s Federal Anti-monopoly Service (FAS) has designed a scheme to charge amateur crypto miners increased rates for the electricity they use. The agency insists its approach to solving the problem with....
Just recently, a new study has been revealed using blockchain technology and the popular Parker Brothers board game Monopoly. In his study, Blocktech IVS founder and CEO Thorkild Grothe-Møller mixes innovative protocols with a classic board game that operates on the principles of basic economics. Using Blockchain Tech with Monopoly Gives Researcher’s....
Bitcoin lets anyone live and thrive wherever they want, ending government monopoly on our jurisdictions.
Bitcoinexaminer reports that Colombia’s central bank, the Superintendencia Financiera de Colombia, has issued a document that suggests all Bitcoin activity in the country will soon be illegal. According to local newspaper. "Most importantly … the Colombian state is the one with a monopoly over money. Our currency is reliable, safe and generates no risk, while other forms of money do not have the same level of support and guarantees.” Tuesday’s announcement will be the Colombian government’s first public mention of digital currencies. An unnamed source in the El Tiempo report hinted that....