With Fiat Currencies Crumbling, It’s Time To Denominate In Bitcoin Terms
As fiat currencies crash against the USD, it makes sense to start using bitcoin denominations, even for day-to-day expenses.This is an opinion editorial by Stephan Livera, host of the “Stephan Livera Podcast” and managing director of Swan Bitcoin International.Many fiat currencies are struggling to retain purchasing power in USD terms. The macro conversation on finance Twitter is now turning to how the overall system is breaking, and the fact that you can’t taper a Ponzi. Now is a great time to press the advantage that Bitcoin brings: not being a fiat currency that can be printed on....
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Bitcoin has broken record levels against at least nine world currencies as its U.S. dollar price marches toward $20,000. Bitcoin (BTC) is just a few thousand dollars away from its all-time high near $20,000 U.S. dollars. However, while much of the crypto industry watch Bitcoin’s price action in U.S. dollar terms, BTC has already achieved all-time high prices relative to numerous other world currencies.In an Oct. 22 tweet, Alistair Milne mentioned seven countries in which Bitcoin had already reached its all-time high relative to those countries' native fiat currencies. In the same tweet, he....
Many of us are already familiar with Bitcointip, the bot that allows anyone to easily send any amount of money to anyone else on Reddit. For those who have not seen Bitcointip used before, the process is simple: deposit money into your account, and then to tip a particular user (eg. myself, "vbuterin"), you write "+tip 0.01 BTC vbuterin" into a comment anywhere on Reddit. Writing "+tip 0.01 BTC" sends the tip to the creator of the comment that you are replying to. You can also denominate tips in fiat currencies like USD and EUR, "internets" (+1 internets = 0.25 USD) and "points to....
A new research paper co-authored by an economics advisor at the Federal Reserve Bank of Philadelphia explores whether private currencies, such as digital currencies like bitcoin, can compete with government-issued alternatives. “Can competition among privately issued fiat currencies such as Bitcoin or Ethereum work?” the paper, published on 3rd April, asks. “Only sometimes. To show this, we build a model of competition among privately issued fiat currencies.” The paper, co-authored by Jesús Fernández-Villaverde of the University of Pennsylvania and Philadelphia Fed researcher Daniel....
While fiat currencies around the world are collapsing, bitcoin is a safe alternative that is extremely liquid for those who need to exchange for cash.
A new report from the SWIFT Institute has found that fiat currencies are more likely to crowd out digital currencies such as bitcoin. The paper, Virtual Currencies: Media of Exchange or Speculative Asset? [PDF] analyses the dynamic relationship between virtual currencies, such as bitcoin, and fiat currencies. The research looked at whether or not the design and the size of virtual currencies could pose an immediate risk to monetary, financial or economic stability. The paper found that fiat currencies are more likely to crowd out virtual currencies and that the design and size of virtual....