Footnote:
In: Journal of Prices & Markets, 3(3), 2015: 22-33
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 7, 2013 erstellt
Description:
We maintain that the crypto-currency bitcoin is a practical application of what is termed “memory” in the monetary economics literature. After reviewing the theoretical literature on money and memory, we offer a brief overview of the bitcoin protocol and argue that, like memory, bitcoin functions as a public record-keeping device. Finally, we provide evidence that — in line with the standard theoretical account of memory — bitcoin use has soared as the expected cost of storing traditional monies increased