How The Qualities Of Bitcoin Baffle Nocoiners
— Currency, Autonomy, Money, Value, Quality, Coins, Baffle, Qualities, Gold, Correlatedredeemability, Nocoiners, Hard, Bitcoin — 1 min read
Rowdy Yates: While bitcoin lacks one quality of hard money (correlated-redeemability), it possesses the primary but less visible quality, autonomy. Yates: Currency autonomy is a quality that exists on a spectrum and reduces a sovereign’s capacity to manipulate the currency in a material way — think inflation and debasement. Nayib's currency has high autonomy and only attenuated, uncorrelated-Redeemability, Yates says. The parable of three sovereigns: Nayib, a country that uses only bitcoin; Ike, a gold coinage; and Dick, a pure fiat currency. Source