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A comment on Bitcoin is dead. Long live bitcoin..
http://mises.org/money/2s9.asp
It's still orthodoxy among academic economists, but there isn't any historical evidence that it's actually true.
More recently, this article in Forbes explains the issue more succinctly:
http://www.forbes.com/sites/timothylee/2013/04/11/bitcoin-do...
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http://mises.org/money/2s9.asp
It's still orthodoxy among academic economists, but there isn't any historical evidence that it's actually true.
More recently, this article in Forbes explains the issue more succinctly:
http://www.forbes.com/sites/timothylee/2013/04/11/bitcoin-do...