A place for connecting economic news and theory to the practice of teaching economics
Saturday, April 13, 2013
Bitcoin - Is it money or is it a commodity - or both?
The rise (and fall) or Bitcoin has gained a lot of attention. Will it succeed as a new digital currency is one one big open question. This article from the New Yorker explains the origins of Bitcoin and how it will work as a currency. However, there are problems with it being able to work as a currency if there is no central bank and a limited supply - it is a commodity more like gold - argues this article from the Atlantic.
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