This week's episode is all about Bitcoin- where it's been and where it may go. There's been a lot of interest in Bitcoin among our listeners, so we're more anxious than usual to hear what you have to say!
Questions below the fold:
Check Your Knowledge:
1. Roberts and Andresen discuss the tremendous fluctuation in the value of Bitcoin. Why has its value been so volatile? Should we expect its volatility to decrease over time? Why?
2. When Roberts asks about the regulatory climate related to Bitcoin, Andresen says he's more worried about lawmakers than regulators. What does he mean by that, and to what extent do you think his concern is well-placed?
3. Why does Paul Krugman think Bitcoin is evil? How does Andresen respond to Krugman's accusation? Are there any elements of Krugman's critique that have merit? To what extent is Andresen's reply convincing?
4. In this Free Banking piece, George Selgin claims Bitcoins are not currency. What do Selgin's and Krugman's arguments have in common? And is Bitcoin properly considered a currency? Why?