PPT-The Economics of Commodity Money (and Bitcoin)

Lawrence H White George Mason University What is a gold standard Anna Schwartz 1986 a gold standard means that the central bank is prepared to buy and sell gold at a fixed price US before 1913 . Kroll Ian C Davey and Edward W Felten Princeton University Abstract The Bitcoin digital currency depends for its correctness and stability on a combination of cryptography distributed algorithms and incentive driven behavior We examine Bitcoin as a most. pertinent aspects in a computer science perspective. Hugues Bersini . Jérémie Dubois-Lacoste. IRIDIA/ULB. Intro: My . three. . favourite. aspects. Distributed. – . Decentralized. – No . A Decentralized, Public Ledger . Digital Asset Transfer Mechanism. The views and opinions expressed here are not necessarily those of the Federal Reserve Bank of St. Louis or of the Federal Reserve System.. Claudio . Orlandi. cs.au.dk. /~. orlandi. Thanks . to: . Jon K. S. ø. rensen and Peter S. Nordholt. Leave. . while. . you. . can. !. I will . NOT. . talk about:. Politics. Economics. …. Coming up next:. Barter. Goods *BECOME* Money. Acceptable. Durable. Portable. Scarce. Divisible. Recognizable. Gold Storage -> Paper Receipts. England, 17. th. Century. Safety for travelers. Charles I’s Royal Mint loan (1640). Digital Currency. Chaum’s. ideas in the 1980’s. All ideas required a central bank or . single point of trust. Chaum. started a company. DigiCash. in 1990. Bankrupt. in 1998. Lots of other companies you’ve never heard of have attempted digital cash. What are the . limits to growth?. What are the . limits to growth?. P. opulation increases by a billion every . 12 or 13 years!. Population increases 200,000 per day . (350,000 . born . v. 150,000 die). Digital Currency. Chaum’s. ideas in the 1980’s. All ideas required a central bank or . single point of trust. Chaum. started a company. DigiCash. in 1990. Bankrupt. in 1998. Lots of other companies you’ve never heard of have attempted digital cash. Application of economic theory to predict and control behavior. Microeconomics. Assumes law of supply and demand. Is an outgrowth of unidimensional explanations of reinforced behavior. Four Major Premises. Genway Huang. ECON 4905. March 21, 2016. Overview. Background. What is Bitcoin. ?. Value of Bitcoin. Bitcoin Market Today. Conclusions. Background. Commerce online is a trust-based system reliant on financial institutions as a third-party. Third party verifies to avoid double-spending problem. . The Benefits of Reading Books,Most people read to read and the benefits of reading are surplus. But what are the benefits of reading. Keep reading to find out how reading will help you and may even add years to your life!.The Benefits of Reading Books,What are the benefits of reading you ask? Down below we have listed some of the most common benefits and ones that you will definitely enjoy along with the new adventures provided by the novel you choose to read.,Exercise the Brain by Reading .When you read, your brain gets a workout. You have to remember the various characters, settings, plots and retain that information throughout the book. Your brain is doing a lot of work and you don’t even realize it. Which makes it the perfect exercise! [READ] All About Money - Economics - Business - Ages 10+: The Thinking Tree - Do-It-Yourself Homeschooling Curriculum (All about Money How to Make Money ... Money, Economics, Business - Research - GRE)
http://skymetrix.xyz/?book=B0863V6HJL Does Paper Money have any intrinsic value?. What is money then?. Why is it important?. If there was no money then we would have to barter. For barter to work – trade is said to require the . double of coincidence of wants. . Prof. . Alok. Kumar . Goyal. Department of Economics. Deen. . Dayal. . Upadhyay. Gorakhpur University. Functions of Money. . 1. Primary Function. 2. Secondary or Derived Function. 3. Contingent Function.