Bitcoin’s Mr. Wright Now Says He Won’t Prove He Started Currency

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Garry Reed combined a professional technical writing career and a passion for all things libertarian to become The Libertarian Opinionizer. Forget government-issued economist bitcoin bitten cast and online cryptocurrency. Libertarian foil-wrapped chocolate ChocoChange is here! Many people were first introduced to libertarianism from reading the works of the great free-market economists such as Friedrich Hayek, Ludwig von Mises, Milton Friedman, Murray Rothbard, Thomas Sowell and many others, and then arguing endlessly over the relative merits of the Austrian School versus the Chicago School versus Old School classical liberals.

But many, if not most people have been attracted to libertarianism through other means than economic dissertations, like philosophy, politics, social theory and, as so frequently reported by the left, from Republicans just wanting economist bitcoin bitten cast smoke pot, and have little to no interest economist bitcoin bitten cast formal education in economic systems.

Economics always comes down to dealing with money. Gold economist bitcoin bitten cast money, silver is money, the old Government-issued silver certificates were money because they could be redeemed for actual silver. Money is supposed to serve both as an instrument of trade and as a store of value. But FRNs are simply tools of manipulation for the ruling classes to create inflation that destroys savings and distorts free markets to their own benefit. Cocoa, the bean from which chocolate is made, was first discovered by indigenous Central American people.

The Mayans called it "the food of the Gods. It was so precious that they started using cacao beans as economist bitcoin bitten cast currency! Yes, money actually grew on trees! It means making money in your own sweet way! Fast forward to Now. Chocolate money has been around for a long time in the modern world, created by commercial confectionary companies. It has almost always consisted of a flat, disc-shaped piece of chocolate candy stamped with coin-like images and wrapped in gold and sometimes silver foil.

These coins, under various names and sizes, have been available in many different forms—milk, dark, bittersweet, semisweet, unsweetened and white chocolate—and come wrapped in many different foil colors besides gold and silver, and available in sacks, bags, boxes, and by-the-scoop.

Black chocolate coins are also available, but buyer beware. Black chocolate is just another name for dark chocolate which economist bitcoin bitten cast made from cocoa butter instead of milk-based butter used to make milk chocolate.

Most black chocolate coins, however, are just low-quality vegetable oil chocolate coins wrapped in black foil. By definition black chocolate coins economist bitcoin bitten cast only be obtained on the black market. Unfortunately, few people other than children have ever realized the true value of candy coins — for trade, for store of value, for coin collecting—until libertarians began to search in earnest for non-statist monetary instruments. Like all types of money, ChocoChange has its advantages and disadvantages so do your homework first before investing.

First, remember that even with the best economist bitcoin bitten cast of the producers of government-minted paper and coinage there has always been counterfeited money.

In earlier times people used to bite on any coin they were offered to make sure it was real silver, not wood or flimsy tin. That is one advantage of a cryptocurrency like BitCoin. But biting on ChocoChange, after carefully peeling back the foil, is still a quick and easy way for suspicious folks to check for spurious specie. But one must be careful when biting ChocoChange. A bitten coin will technically change it into a BitCoin but two bites will just lower its value, turning it into a two-bit coin.

That just makes cents. The problem, however, economist bitcoin bitten cast that ChocoChange is chocolate after all and if kept too long in your pocket it will certainly become soft money. And that will make you the target of every political operative in your community because politicians just love soft money! But it could get even worse. And to complicate things even more if you happen to have a hole in your pocket the result will be trickle-down economics.

And it could get even worse! On the positive side, ChocoChange makes an excellent store of value. You just have to know how to properly store it. First, always keep your coins securely wrapped economist bitcoin bitten cast the foil. Second, and this should be obvious to everyone, if you keep your money stored in your freezer at all times you will always have a hoard of cold hard cash. Third, ChocoChange is absolutely the best store of value for libertarian survivalists and other preppers who plan on retreating into naturally cool redoubts like caves or mountain cabins where their coins can be easily preserved.

Stockpiling gold or silver will be pointless if society completely collapses and no one is left to produce anything that a survivor could buy. But as a last resort, unlike hard money or cyber currencies, they can always eat their ChocoChange! Fourth, certain forms of ChocoChange are very valuable and eagerly sought after by economist bitcoin bitten cast, aka serious coin collectors.

Today most current US clad coins in general circulation consist of an inner core of pure copper sandwiched between two outer layers of a silver-colored nickel-copper alloy. Numismatists are always looking for ChocoChange sandwich coins comprised of a thin layer of mint candy sandwiched between two outer layers of dark chocolate. They love these economist bitcoin bitten cast condition coins. Just as currency arbitrage takes place in the world of government-minted money.

But all of that needs to be left to the professional economists and financial planners. What you do need to know is:. Economist bitcoin bitten cast ChocoChange and any cocoa-based asset will not help you lose weight as some fake news scientific studies have claimed.

To buy ChocoChange you must contact your Confectionary Coinage Concierge at participating candy stores — if you can find one. When Money Grew on Trees Cocoa beans, where chocolate comes from, were so valued by the Mayans and Aztecs that they used the beans as money. Sign in or sign up and post using a HubPages Network account. Comments are not for promoting your articles or other sites.

Best laugh I've had in several days. Maybe the Libertarian candidates would get more votes if they established this monetary system. ChocoChange can be dangerous, though. Only one time in my life have I ever administered a Heimlich, and that was to a boss who was choking on a chocolate coin given to him by a lobbyist.

Other product and company names shown may be trademarks of their respective owners. HubPages and Hubbers authors may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.

To provide a better website experience, toughnickel. Please choose which areas of our service you consent to our doing so. For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: Updated on March 23, None economist bitcoin bitten cast them ever mentioned ChocoChange! Economics for the Non-Economic But many, if economist bitcoin bitten cast most people have been attracted to libertarianism through other means than economic dissertations, like philosophy, politics, social theory and, as so frequently reported by the left, from Republicans just wanting to smoke pot, and have little to no interest or formal education in economic systems.

ChocoChange is economist bitcoin bitten cast them! Changing to ChocoChange Cocoa, the bean from which chocolate is made, was first discovered by indigenous Central American people. Economist bitcoin bitten cast Downside to ChocoChange Like all types of money, ChocoChange has its advantages and disadvantages so do your homework first before investing. And that will inevitably mean that you will have no other choice but to launder your money.

Few professional coin collectors welcomed these changes. Other Confection Reflections Just as currency arbitrage takes place in the world of government-minted money. What you do need to know is: Consuming ChocoChange and any cocoa-based asset will not help you lose weight as some fake news scientific studies have claimed; 2. Investing in ChocoChange should be considered economist bitcoin bitten cast sweet deal. You actually got someone to cough up some lobbyist money?

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What was just a lazy mention in the listed modes of payment in several introductory economics and management textbooks not more than a year ago will go down in history as one of the milestones of The concept was developed by an anonymous group under the pseudonym Satoshi Nakamoto and was released as an open source software in The idea behind Bitcoin is to develop a decentralized digital currency which would facilitate peer to peer direct transactions without any intermediaries.

What kept Bitcoin in the background all this while was the fear of the unknown. Adding to the unknown, Bitcoin is pseudonymous, meaning the owners of bitcoins exchanged are not explicitly identified. This fear cannot be completely disregarded as irrational as it did encourage use of Bitcoin in several criminal activities.

Despite the negative perceptions attached to it, Bitcoin started its rise in the year and sustained it throughout , although bore the fruit of all patience. What exactly is the reason behind these dramatic turn of events for Bitcoin?

One of the reasons for the growing buzz may be attributed to the increasing interest of developers in the Blockchain technology. Blockchain is the online public ledger which records all bitcoin transactions. Technical aspects aside, the real reason for the Bitcoin boom may be attributed to its entry into the formal economy, as its rise was boosted by the Japanese legalization of Bitcoin as a mode of payment.

Thereafter it has cast its spell on several Wall Street behemoths, who attribute a sizable portion of their wealth in the cryptocurrency market and are optimistic about its growth potential.

Yet, undoubtedly, the biggest leap for Bitcoin in formalization will have to be the introduction of Bitcoin futures. A momentous shift from its uncertain parameters, this development will go a long way in strengthening confidence amongst the investors. While the world community as a whole is up and excited about the emergence and potential of these new technologies, the wave of digitization as well as impressive investment opportunities, it is still too good to be true.

Once bitten and twice shy, many are still vary of cryptocurrencies as they are reminded of not only the Housing Bubble of and the Dotcom Bubble of s but also the Tulip Bubble back in the 17th century. Imminent personalities like Yale economics professor Robert Shiller, who has won a Nobel prize for his work on bubbles and famed investor Warren Buffet have expressed their concerns regarding the Bitcoin Bubble.

Bitcoin on its own does not generate any cashflow nor is it backed by any asset. The only way it brings returns to an investor is through a rise in price of bitcoins. An interesting fact about Bitcoin is that the anonymous inventor has laid down guidelines based on artificial scarcity which draw a limit of only up to 21 million bitcoins to be issued.

This is a feature unique only to Bitcoin, restricting its availability and diverging from the possibility of a bubble-like condition, or at least prolonging the burst. Although, the existence of other cryptocurrencies does dampen this supply factor. Whether the cryptocurrencies will revolutionize monetary systems across the globe or add another page to the tragic anecdotes of speculative events in investment manuals is something that only time will tell.