Sunday, January 24

Tag: Edward Hadas

Larry White on Bitcoin
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Larry White on Bitcoin

In “Has Bitcoin Succeeded?,” Alt-M, December 23, 2020, Larry White of George Mason University has a nicely nuanced piece on, as will not surprise you if you read the title, whether Bitcoin has succeeded. As Larry says, the answer depends on the goal. As a widely used private alternative to government fiat money, it has not succeeded yet. As an asset that has gained in value, it has succeeded wildly.Larry nicely walks the reader through the ins and outs of Bitcoin and does so mainly by taking on Bitcoin critic Edward Hadas. Larry writes:Starting from an (overstated) argument, to the effect that Bitcoin would not become a commonly accepted medium of exchange, Hadas leapt to the prediction that Bitcoin would have zero use and zero market value.  Bitcoin today in fact occupies an interme...