The Origin, Classification and Utility of Bitcoin
28 Pages Posted: 15 May 2014
Date Written: May 14, 2014
Bitcoin seems to create a great confusion among Austrian economists, leading to contradictory statements and a fictional history for Bitcoin. In this paper, I attempt to explain the origin of Bitcoin, its classification and utility from Austrian perspective.
Keywords: Bitcoin, medium of exchange, money, regression theorem, commodity money, fiat money, money substitutes, elasticity, exchange
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