From cash to crypto: The Cantillon effect vs. the Nakamoto effect
Is Bitcoin susceptible to the Cantillon effect? To find an answer, please read this Bitcoin-Cantillon effect article. How to protect yourself from the Cantillon effect?The simplest method to safeguard yourself against the unequal distribution of new money is to leave the monetary system completely. Only the oldest living generations can recall a time when money was more than a piece of paper backed by the government's and military's "full faith and credit." We are conditioned to conceive of money as a product of our government, yet avoiding the Cantillon effect necessitates looking at....
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Bitcoin changes a legacy economic dynamic that granted those close to the money printer a distinct advantage over the rest of us. The post Cantillon Effect 2.0: Bitcoin Is The World’s First Truly Fair Money appeared first on Bitcoin Magazine.
Venture Capitalist firms have taken a liking to Bitcoin and invested millions of dollars into the industry in 2015, including some of Silicon Valley’s best-known venture firms. The question is: Has there been a Bitcoin trickle down effect? But, first, let’s define a Bitcoin trickle-down effect. It’s not like Reaganomics, in the low tax, political sense. Rather, a Bitcoin trickle-down effect is whatever the opposite of a few people accumulating and controlling all the coins and never spending them on anything that’s a net positive for anyone other than themselves. With few people holding....
Satoshi Nakamoto, the famous creator of the Bitcoin protocol, could be anybody in today’s modern world. During his process of technology creation, Nakamoto retained an essence of pure anonymity to thwart any sort of government intrusion. As a side-effect, Bitcoin critics have had trouble analyzing the merits of someone they can’t identify, and they can’t track him down for his fortune. On the opposite end of the spectrum is Bob Galt. In the comic book world co-authored by Alex Preukschat called “Bitcoin: The Hunt for Satoshi Nakamoto,” Galt is being chased by a mafia-type organization....
What is the phenomenon referred to as the Lindy Effect, and how does it relate to Bitcoin?
Asian cryptocurrency exchange Okex says peer to peer trading is now open but the freeze on withdrawals remains in effect. In an update, Okex CEO Jay Hao reveals that buying cryptocurrency via the fiat gateway is now active as well but he fails to give a timeframe for the resumption of withdrawals. In an earlier tweet, the CEO reassures customers that their funds are safe and that withdrawals will commence as soon as possible. On Oct. 15, Okex announced the suspension of withdrawals of cryptocurrency after an unnamed private key holder was taken into custody by law enforcement. However,....