“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/

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