Questions about bitcoins. Thanks for taking the time to answer.Submitted by HeatForce on Tue, 03/26/2013 - 15:41
I'm a little late when it comes to Bitcoins but how does the community feel? What are the recommendations from notable Austrian Economists – is there a general consensus among them? Is using and investing in bitcoin safer than other fiat currencies like the dollar, yet still inferior to a commodity backed currency? Would it be possible to tie ones actual gold/silver supply to their supply of bit coins so that that their bitcoins not only increase in purchasing power but remain more stable (kind of like a bitcoin 2.0 if you back it with gold or silver). Ron Paul in the past has always supported a decentralized, free market currency which bitcoin appears to be, but at the same time bitcoin isn't backed by anything (like metals) so I am left confused.