Instead of forcing us to abandon the Misesian approach to money, Bitcoin has helped us sharpen our analytical knives and gain a more abstract, praxeological answer to the questions of what money is and how it originates.
A discussion with the legendary Jeffrey Tucker on what makes Bitcoin truly revolutionary, what we can learn about society from Satoshi Nakamoto, and what potential crypto-currencies offer to a world facing economic disaster
In short, the altcoin phenomenon is the product of greed and bounded rationality.
The future of The Mises Circle seems clear, to be a progenitor of the next wave of radical, uncompromising Austrians. The bent will be technological rather than historical, and digital rather than physical.
Once it was known that bitcoin could be sold, even for a pittance, new possibilities opened up.
Proof-of-work should not be seen as a mysterious or wasteful system, but as something functional, natural, and potentially of value for the design of any communication protocol.
Stay one step ahead of the government and don’t get embroiled in politics.