Altcoins, Central Banks Vie for Bitcoin Legacy
Bitcoin marks its 10th anniversary with a lackluster record: while adoption has increased, it has yet to deliver on several promises. Transactions are too slow and expensive for daily use, and bitcoin is nowhere near replacing traditional central-bank currencies.
Lawrence White, a professor of economics at George Mason University and a senior fellow with the Cato Institute’s Center for Monetary and Financial Alternatives, credits bitcoin with introducing a remarkable technological breakthrough in money.
However, he argues that price volatility is one of its major shortcomings. This may be “baked in,” given the fixed supply, limiting its appeal in the face of more stable fiat currencies.
- See Prof. Lawrence’s work at George Mason University and the Cato Institute.
- Read “Bitcoin after 10 Years” on Alt-M.
- Read “Central Bank Digital Currency Might Be Fool’s Gold” on American Banker.
- Check out two of his books: The Clash of Economic Ideas and The Theory of Monetary Institutions.
- Two altcoins to follow: Initiative Q and Beam.
If You Liked This Episode
- “The Fundamental Value of Cryptocurrencies” Gold Newsletter Podcast.
- “Can Cryptocurrencies Beat the Dollar?” Gold Newsletter Podcast.
- “What You Don’t Know about Crypto” Gold Newsletter Podcast.
- “Don’t Panic! Bitcoin’s Growing Pains” Gold Newsletter Podcast.
- “Why Blockchains Are Here to Stay” Gold Newsletter Podcast.
- “Why Bitcoin Is Here to Stay” Gold Newsletter Podcast.
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