Bitcoin: Problems and Prospects George Selgin, Director ...

Bitcoin as Medium of Exchange Debate: Saifedean Ammous vs. George Selgin at Soho Forum

Bitcoin as Medium of Exchange Debate: Saifedean Ammous vs. George Selgin at Soho Forum submitted by afriendofsatoshi to btc [link] [comments]

“The technology of bitcoin and the possibilities it raises are quite intriguing,” says economist George Selgin... “This is a potential money that could provide a safe, sound medium of exchange that is independent of any government.”

“The technology of bitcoin and the possibilities it raises are quite intriguing,” says economist George Selgin... “This is a potential money that could provide a safe, sound medium of exchange that is independent of any government.” submitted by beofotch to Libertarian [link] [comments]

Debunking latest Core rhetoric: Medium of Exchange ≠ Means of Payment

Lately I've seen the "medium of exchange is not the same thing as a method of payment" idea being floated a lot by BTC maxis. Saifdean Ammous tried to pull this out in his debate with a George Selgin. The Bitcoin Observer also mentioned this argument on Twitter in a discussion about Libra's failure. However, according to this paper, the distinction between a medium of exchange and a means of payment is that a means of payment is not necessarily settled immediately. They argue that currency is a medium of exchange, while checks and debit cards are not.
In my opinion, this exposes the fundamental flaw in the argument that "Bitcoin is not a method of payment". It's as if the Coretards are trying to separate Bitcoin UTXOs from the Bitcoin P2P network and Bitcoin mining, and arguing that the network isn't important, and mining is a given. However, without the payment, mining, and P2P validation network, BTC UTXOs have a clear value: ZERO. You can't separate them, the value depends 100% on the network and mining. And as we saw in 2017, when fees rose over $100/transactions, a fair percentage of UTXOs became unspendable, as the fees to move them would be higher than their value.
Of course, we live in a world increasingly dominated by electronic fiat, is this a medium of exchange? Electronic fiat has a fairly tenuous supply and value, and it also depends intrinsically on a payment network that is controlled by governments and corporations. Increasingly, electronic fiat appears to be more a method of spurring labor and creating debt.
Thoughts are welcomed.
submitted by horsebadlyredrawn to btc [link] [comments]

The Future - Bitcoin and Other Cryptocurrencies Can Bitcoin Replace Government-Issued Money? A Debate ... Money Under Laissez Faire with George Selgin [57] George Selgin and Kyle Harrington on deflation and the US economy Can Bitcoin Be Money? - George Selgin - CoinSpice Live: Full Interview

It can be defined as synthetic commodity money (Selgin, 2015) sharing features with both commodity monies such as gold and fiat monies such as the US dollar. Whilst commodity money is naturally scarce and has a use other than being a medium of exchange, fiat money is not naturally scarce but issued by a central bank and its main purpose is that of being a medium of exchange. In addition, both ... ‎"Bitcoin is poorly suited to the purpose of becoming any nation's main medium of exchange." That was the topic of a public debate hosted by the Soho Forum in New York City on August 12, 2019. It featured George Selgin, director of the Center for Monetary and Financial Alternatives at the Cato Insti… TL;DR: The author of The Bitcoin Standard, Saifedean Ammous, will argue for bitcoin as a medium of exchange in a debate against The Cato Institute’s George Selgin at the Soho Forum in New York. It will be an odd juxtaposition for Ammous on Monday, August 12th, 2019, who famously urges the hodl, store of value position. While Selgin argues it is hard to find a store that accepts bitcoin, Ammous argues that’s because use is spread across the whole globe, rather than being restricted to just one nation. By global ... George Selgin and Saifedean Ammous have a lively Oxford Style debate on the resolution that Bitcoin is Poorly Suited to the Purpose of Becoming Any Nation’s Main Medium of Exchange

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The Future - Bitcoin and Other Cryptocurrencies

In today's headline story, Erin Ade reports on the deflation of expectations surrounding the Sochi Winter Olympics coverage by NBC. It seems NBC thinks its viewers are so locked in - even in the ... George Selgin is a senior fellow and director of the Center for Monetary and Financial Alternatives at the Cato Institute and Professor Emeritus of Economics at the University of Georgia. His ... Voices of Liberty's Joe Gressis speaks with economics professors George Selgin and William J. Luther, and cryptocurrency enthusiasts Andreas Antonopoulos, Am... 10/26/11 In this webinar George Selgin explains how monetary exchange arose as “a product of human action but not of human design,” and how in the absence of government interference market ... This is a video on How to buy Bitcoin and other Crpto in Ghana and on exchange below.-Coinmama. Click Here https://tinyurl.com/quppbcl Video is for informati...

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