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Is Bitcoin Intrinsically Worthless?

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  • William J. Luther

    (Florida Atlantic Univeristy)

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  • William J. Luther, 2018. "Is Bitcoin Intrinsically Worthless?," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 33(Spring 20), pages 31-45.
    • Handle: RePEc:jpe:journl:1460
    as

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    References listed on IDEAS

    as
    1. Alexander W. Salter & William J. Luther, 2014. "Synthesizing State and Spontaneous Order Theories of Money," Advances in Austrian Economics, in: Entangled Political Economy, volume 18, pages 161-178, Emerald Group Publishing Limited.
    2. William Luther, 2014. "Evenly rotating economy: A new modeling technique for an old equilibrium construct," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 27(4), pages 403-417, December.
    3. Francois R. Velde, 2013. "Bitcoin: a primer," Chicago Fed Letter, Federal Reserve Bank of Chicago, issue Dec.
    4. Selgin, George A, 1994. "On Ensuring the Acceptability of a New Fiat Money," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 26(4), pages 808-826, November.
    5. Selgin, George, 2015. "Synthetic commodity money," Journal of Financial Stability, Elsevier, vol. 17(C), pages 92-99.
    6. Joshua R. Hendrickson & Thomas L. Hogan & William J. Luther, 2016. "The Political Economy Of Bitcoin," Economic Inquiry, Western Economic Association International, vol. 54(2), pages 925-939, April.
    7. Selgin, George A & White, Lawrence H, 1987. "The Evaluation of a Free Banking System," Economic Inquiry, Western Economic Association International, vol. 25(3), pages 439-457, July.
    8. William Luther, 2016. "Mises and the moderns on the inessentiality of money in equilibrium," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 29(1), pages 1-13, March.
    9. William J. Luther, 2016. "Cryptocurrencies, Network Effects, And Switching Costs," Contemporary Economic Policy, Western Economic Association International, vol. 34(3), pages 553-571, July.
    10. Mervyn King, 2004. "The Institutions of Monetary Policy," NBER Working Papers 10400, National Bureau of Economic Research, Inc.
    11. Aaron Yelowitz & Matthew Wilson, 2015. "Characteristics of Bitcoin users: an analysis of Google search data," Applied Economics Letters, Taylor & Francis Journals, vol. 22(13), pages 1030-1036, September.
    12. Dowd, Kevin & Greenaway, David, 1993. "Currency Competition, Network Externalities and Switching Costs: Towards an Alternative View of Optimum Currency Areas," Economic Journal, Royal Economic Society, vol. 103(420), pages 1180-1189, September.
    13. William J. Luther, 2013. "Friedman Versus Hayek on Private Outside Monies: New Evidence for the Debate," Economic Affairs, Wiley Blackwell, vol. 33(1), pages 127-135, February.
    14. Lawrence H. White, 2015. "The Market for Cryptocurrencies," Cato Journal, Cato Journal, Cato Institute, vol. 35(2), pages 383-402, Spring/Su.
    15. Luther, William J. & Salter, Alexander W., 2017. "Bitcoin and the bailout," The Quarterly Review of Economics and Finance, Elsevier, vol. 66(C), pages 50-56.
    16. George A. Selgin & Lawrence H. White, 1994. "How Would the Invisible Hand Handle Money?," Journal of Economic Literature, American Economic Association, vol. 32(4), pages 1718-1749, December.
    17. George Selgin, 2003. "Adaptive Learning and the Transition to Fiat Money," Economic Journal, Royal Economic Society, vol. 113(484), pages 147-165, January.
    18. Tsang, Eric W. K., 2014. "Old and New," Management and Organization Review, Cambridge University Press, vol. 10(03), pages 390-390, November.
    19. Mervyn King, 2004. "The Institutions of Monetary Policy," American Economic Review, American Economic Association, vol. 94(2), pages 1-13, May.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Donato Masciandaro, 2018. "Central Bank Digital Cash and Cryptocurrencies: Insights from a New Baumol–Friedman Demand for Money," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 51(4), pages 540-550, December.
    2. Alastair Berg & Brendan Markey-Towler & Mikayla Novak, 2020. "Blockchains: Less Government, More Market," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 2(Summer 20), pages 1-21.
    3. Hendrickson, Joshua R. & Luther, William J., 2022. "Cash, crime, and cryptocurrencies," The Quarterly Review of Economics and Finance, Elsevier, vol. 85(C), pages 200-207.
    4. Gerald P. O’Driscoll Jr., 2018. "The Future of Money," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 33(Spring 20), pages 1-7.
    5. Klarin, Anton, 2020. "The decade-long cryptocurrencies and the blockchain rollercoaster: Mapping the intellectual structure and charting future directions," Research in International Business and Finance, Elsevier, vol. 51(C).
    6. José Alves & João Quental Gonçalves, 2022. "How Money relates to value? An empirical examination on Gold, Silver and Bitcoin," Working Papers REM 2022/0222, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    7. William J. Luther, 2022. "Regulatory ambiguity in the market for bitcoin," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 35(1), pages 1-14, March.
    8. Hazlett, Peter K. & Luther, William J., 2020. "Is bitcoin money? And what that means," The Quarterly Review of Economics and Finance, Elsevier, vol. 77(C), pages 144-149.
    9. Emanuele Borgonovo & Stefano Caselli & Alessandra Cillo & Donato Masciandaro & Giovanno Rabitti, 2018. "Cryptocurrencies, central bank digital cash, traditional money: does privacy matter?," BAFFI CAREFIN Working Papers 1895, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    10. Levulytė, Laura & Šapkauskienė, Alfreda, 2021. "Cryptocurrency in context of fiat money functions," The Quarterly Review of Economics and Finance, Elsevier, vol. 82(C), pages 44-54.
    11. Luther, William J. & Stein Smith, Sean, 2020. "Is Bitcoin a decentralized payment mechanism?," Journal of Institutional Economics, Cambridge University Press, vol. 16(4), pages 433-444, August.

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    20. Selgin, George, 2015. "Synthetic commodity money," Journal of Financial Stability, Elsevier, vol. 17(C), pages 92-99.

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