Bitcoin & Gresham's Law
- Bitcoin & Gresham's Law - the economic inevitability of Collapse
- Philipp Güring & Ian Grigg
- Link-Alternative
- Download eBook
Abstract. The Bitcoin economy exhibits remarkable and predictable stability on the supply side based on the power costs of mining. However, that stability is challenged if cost-curve assumption is not solely expressed by the fair cost of power. As there is at least one major player, the botnets, that can operate at a power-cost-curve of zero, the result is a breach of Gresham's Law: stolen electricity will drive out honest mining. This has unfortunate effects for the stability of the Bitcoin economy, and the result is inevitable collapse.
- Bitcoin & Gresham's Law - the economic inevitability of Collapse
- Philipp Güring & Ian Grigg
- Link-Alternative
- Download eBook
Abstract. The Bitcoin economy exhibits remarkable and predictable stability on the supply side based on the power costs of mining. However, that stability is challenged if cost-curve assumption is not solely expressed by the fair cost of power. As there is at least one major player, the botnets, that can operate at a power-cost-curve of zero, the result is a breach of Gresham's Law: stolen electricity will drive out honest mining. This has unfortunate effects for the stability of the Bitcoin economy, and the result is inevitable collapse.
Bitcoin Exposed
- Bitcoin Exposed: Today's Complete Guide to Tomorrow's Currency
- Daniel Forrester & Mark Solomon
- Link-Alternative
- Download eBook
- 1.28 MB
Bitcoin is the bridge to a new, vastly freer, dependable, honest, and democratic world. Of course we
can simply use Bitcoins for fun, profit, and online transactions if that is all we are after.
Why stop there though? When using Bitcoins, we enter a system with massive benefits which include:
almost no fees for transfers such as bank wires, the possibility of complete anonymity or privacy with
all the financial privileges, and no central bankers or government stealing your Bitcoins. Bank
account theft has recently occurred in the banks of Cyprus, as well as in Argentina. This, in addition to
worldwide inflation, has encouraged people to look for a better banking solution.
Bitcoin takes the reins from those people, institutions, and even governments that control our
currencies, and puts the control levers solely in all of our hands. Yes, we finally get to control our own
currency.
Bitcoins can unlock the guarded door of prosperity by raising the wealth and prosperity of everyone. It
helps accomplish this by being a deflationary currency. Bitcoins increase in value relative to dollars
or euros, etc. by default because of the limited amount of Bitcoin currency entering the system. This
helps make the same amount of Bitcoins buy more stuff we need year after year.
Bitcoin can free us from the prying eyes of tax codes, bank fees, or any number of confiscation games
played by governments, banks, and “authorities.” While this is a controversial application of Bitcoin,
this book would be incomplete without explaining the privacy opportunities Bitcoin offers.
can simply use Bitcoins for fun, profit, and online transactions if that is all we are after.
Why stop there though? When using Bitcoins, we enter a system with massive benefits which include:
almost no fees for transfers such as bank wires, the possibility of complete anonymity or privacy with
all the financial privileges, and no central bankers or government stealing your Bitcoins. Bank
account theft has recently occurred in the banks of Cyprus, as well as in Argentina. This, in addition to
worldwide inflation, has encouraged people to look for a better banking solution.
Bitcoin takes the reins from those people, institutions, and even governments that control our
currencies, and puts the control levers solely in all of our hands. Yes, we finally get to control our own
currency.
Bitcoins can unlock the guarded door of prosperity by raising the wealth and prosperity of everyone. It
helps accomplish this by being a deflationary currency. Bitcoins increase in value relative to dollars
or euros, etc. by default because of the limited amount of Bitcoin currency entering the system. This
helps make the same amount of Bitcoins buy more stuff we need year after year.
Bitcoin can free us from the prying eyes of tax codes, bank fees, or any number of confiscation games
played by governments, banks, and “authorities.” While this is a controversial application of Bitcoin,
this book would be incomplete without explaining the privacy opportunities Bitcoin offers.
- Bitcoin Exposed: Today's Complete Guide to Tomorrow's Currency
- Daniel Forrester & Mark Solomon
- Link-Alternative
- Download eBook
- 1.28 MB
Bitcoin is the bridge to a new, vastly freer, dependable, honest, and democratic world. Of course we
can simply use Bitcoins for fun, profit, and online transactions if that is all we are after.
Why stop there though? When using Bitcoins, we enter a system with massive benefits which include:
almost no fees for transfers such as bank wires, the possibility of complete anonymity or privacy with
all the financial privileges, and no central bankers or government stealing your Bitcoins. Bank
account theft has recently occurred in the banks of Cyprus, as well as in Argentina. This, in addition to
worldwide inflation, has encouraged people to look for a better banking solution.
Bitcoin takes the reins from those people, institutions, and even governments that control our
currencies, and puts the control levers solely in all of our hands. Yes, we finally get to control our own
currency.
Bitcoins can unlock the guarded door of prosperity by raising the wealth and prosperity of everyone. It
helps accomplish this by being a deflationary currency. Bitcoins increase in value relative to dollars
or euros, etc. by default because of the limited amount of Bitcoin currency entering the system. This
helps make the same amount of Bitcoins buy more stuff we need year after year.
Bitcoin can free us from the prying eyes of tax codes, bank fees, or any number of confiscation games
played by governments, banks, and “authorities.” While this is a controversial application of Bitcoin,
this book would be incomplete without explaining the privacy opportunities Bitcoin offers.
can simply use Bitcoins for fun, profit, and online transactions if that is all we are after.
Why stop there though? When using Bitcoins, we enter a system with massive benefits which include:
almost no fees for transfers such as bank wires, the possibility of complete anonymity or privacy with
all the financial privileges, and no central bankers or government stealing your Bitcoins. Bank
account theft has recently occurred in the banks of Cyprus, as well as in Argentina. This, in addition to
worldwide inflation, has encouraged people to look for a better banking solution.
Bitcoin takes the reins from those people, institutions, and even governments that control our
currencies, and puts the control levers solely in all of our hands. Yes, we finally get to control our own
currency.
Bitcoins can unlock the guarded door of prosperity by raising the wealth and prosperity of everyone. It
helps accomplish this by being a deflationary currency. Bitcoins increase in value relative to dollars
or euros, etc. by default because of the limited amount of Bitcoin currency entering the system. This
helps make the same amount of Bitcoins buy more stuff we need year after year.
Bitcoin can free us from the prying eyes of tax codes, bank fees, or any number of confiscation games
played by governments, banks, and “authorities.” While this is a controversial application of Bitcoin,
this book would be incomplete without explaining the privacy opportunities Bitcoin offers.
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