by Peter St. Onge
The debate whether or not cryptocurrencies are “money” has put a spotlight on the Menger-Mises Regression Theorem. As stated, the theorem posits that a non-fiat money must have had value before it became a money. Some have used currencies’ lack of antecedent value as knocking it off the money pedestal or as forcing cryptocurrencies to ignominiously piggyback on fiat currencies’ own regressions.
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The views expressed on austriancenter.com are not necessarily those of the Austrian Economics Center.
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December 15th, 2014
Cryptocurrencies and a Wider Regression Theorem
by Peter St. Onge
The debate whether or not cryptocurrencies are “money” has put a spotlight on the Menger-Mises Regression Theorem. As stated, the theorem posits that a non-fiat money must have had value before it became a money. Some have used currencies’ lack of antecedent value as knocking it off the money pedestal or as forcing cryptocurrencies to ignominiously piggyback on fiat currencies’ own regressions.
Continue reading….
The views expressed on austriancenter.com are not necessarily those of the Austrian Economics Center.
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