“The following post provides an analytical framework so that critics and proponents of Bitcoin’s monetary policy can engage in a constructive debate. Bitcoin has a central bank called the ‘Bitcoin network,’ which we will refer to as the Bitcoin Central Bank (BCB). This central bank issues a currency called ‘bitcoins’ and processes the transfer of bitcoins between accounts. The BCB’s rule-based monetary policy was set at its creation and its independence is secured by the distributed nature of the underlying network. This non-discretionary monetary policy can best be described as asymptotic money supply targeting (AMST).”
http://themisescircle.org/blog/2013/12/15/the-bitcoin-central-banks-perfect-monetary-policy/
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Will China Rescue the Global Economy?
On The Road Again: Customize Your Life with Location Independence
Bill Bonner: What Is the Point of Government?
The Shoes Keep on Dropping… What Next?
Boston Marathon Bomb Coverage Reveals Media Hypocrisy and Double Standards
Everything that’s Wrong with the Tax System, in a Single Picture
Jacob Hornberger: The Real Criminals Under Our National-Security State System
Born Libertarian: Doug Casey on Ron Paul and the Price of Freedom
Not Just the VA: Another example of government failure in healthcare
Ivan Eland: The Endless Cycle of Terrorism
Paul Craig Roberts: The Republicans Cross The Rubicon
The Idiot’s Guide to Becoming a Bitcoin Billionaire
Wendy McElroy: Don't Like My Article? I Will Sue!
Is the U.S. Producing Democracies?
Anthony Gregory: The FBI Lurking Behind Every Corner