Coppola in Knots: Understanding How Bitcoin, In Conjunction With John Nash’s Ideal Money, Serves As a Solution to Helene Rey’s Mundialian Dilemma

What do I “show”?

Frances and Gerard suggest banks could/would never try to peg their currencies to a mooning bitcoin. But we have to understand why it would be mooning. To understand this we can look to a speak that was recommend as a read by Frances to me during our exchange, Helene Rey.

What Has Been Shown?

Bitcoin can clearly serve as the basis for John Nash’s Ideal Money and in that there is no changes to bitcoin required. That is to say it might not serve as a good coffee purchasing money (although it might!) but there is no limitation in regarding to it serving as a crisis hedge in case Rey’s scenario of a run on the US as the defacto world bank happening.

Image result for john nash alicia larde

A Relevant Thesis

It seems later that (last) evening Frances posted a blog with the exact thesis I feel Gerard had implied which from my perspective is a lack of understanding the Nashian observation of the value and therefore purpose of bitcoin (specifically why it has an inelastic supply when traditionally this has been shown to be not perfectly useful).

But, in practice, general over-production, as popularly imagined, has never, so far as I can discover, been a chief cause of great dis-equilibrium. The reason, or a reason, for the common notion of over-production is mistaking too little money for too much goods.

Fisher shows us that when there is too little money in circulation for the amount of goods & services produced, and no more M can be produced, the result is economic depression. I do have some sympathy for those who say “just fix M, and let P and Q sort themselves out”. But there is another, better, way — and that is to allow M to respond to the demand for money.

We Arrive

Frances is still stuck on the definition of money trying to justify a view that was never argued by the creator of bitcoin:

Why the Witch Hunt!?

Firstly I object to the phrase. I awoke today to notifications from the same person that seemed to get offended from me “spoon-feeding” her “Nash”. But I was really trying to explain to her what she doesn’t understand. And I cannot understand what I was supposed to stop doing that she is not doing back to me and to others. Her twitter undertitle is:

Image result for john nash meme story juice medium




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