In his series of articles on mining the vast deep Szabo explains that there are political and technological limitations to our ability to mine metals whether deep in the ocean or in space.Nick Szabo has been writing about the history and evolution of economics for over 20 years.Keynesians might then argue there must be a central supplier and controller of it whereas Free market theorists would argue the optimal supply comes about when there is not sole controlling agent but rather many competing currencies each with their own controlling agents.
So says the Commodity Futures Trading Commission (CFTC), which on Thursday announced it had filed and settled charges against a Bitcoin exchange for facilitating the trading of option contracts on its platform.In most countries it is explicitly stated that only the governments or central banks are allowed to create and supply money.
The Commodity Futures Trading Commission (CFTC) announced on Thursday that it had filed and settled charges against a Bitcoin exchange for facilitating the trading of option contracts on its platform.
This suggests if bitcoin is to serve as a digital gold or value standard which would bring the global financial system into order then it would be optimal for it to have no other utilities and for as many of its current limitations and parameters to be set in stone for all time.Bitcoin has this quality too although its underlying mechanism for ensuring a predictable supply is slightly different.In simple terms, bitcoin — which dates only to 2009 — is part currency, part commodity.
Bitcoin is now a commodity according to the Commodity Futures Trading.Bitcoin is now considered as a commodity in the US due to a ruling by CFTC.Hal Finney seems to be the first vocal proponent for bitcoin to fulfill this purpose: Bitcoin itself cannot scale to have every single financial transaction in the world be broadcast to everyone and included in the block chain.Both perspectives of monetary theory basically agree that there exists an optimal relationship between the supply of a currency and the output of the underlying economy.Unlike traditional currencies such as dollars, bitcoins are issued and.In this case, for the Fed to maintain the same degree of monetary accommodation, it would need to undertake a compensating tightening of monetary policy.
Bloomberg Markets Bloomberg Technology Bloomberg Pursuits Bloomberg Politics Bloomberg Opinion Bloomberg Businessweek Bloomberg Live Conferences Bloomberg Mobile Bloomberg Radio Bloomberg Television News Bureaus.Under the new paradigm banks still target certain rates with money supply controlling measures but they are also forced onto a stage of competition with other competing currencies.Some of his writing seeks to extend our understanding of how money might arise to a proto-age of economics.
Bitcoin Is An Asset, Not A Currency. Rather it is a commodity asset that.The ruling puts Bitcoin in the category of commodity money, like, say, gold and silver.But if the SEC does approve this Bitcoin ETF, the price of Bitcoin could. of Bitcoin news, the Commodity Futures. data and can move money around.