Cryptocurrencies and a Wider Regression Theorem - Austrian Economics Center

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.

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2015-01-28T17:31:46+00:00

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