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Comment: The Inception of the Currency World

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The Inception of the Currency World

The question as to is it money is actually a very explicit question. What Dr. Paul means is that in his opinion, bitcoin does not satisfy the demands of Mises' Regression Theorem.

Some Austrians argue that it does indeed satisfy the RT... I've read the arguments, and I am still on the fence.

Regardless, whether it is money or not does not matter to me. What matters is that it is innovation and it challenges dogma. Bitcoin very well may not be money. But what it IS, is the Inception of the currency world. It plants an idea... that money need not be monopolized by government. That alone is a powerful thing.