Hi Lyn, I am a big fan of your work. My question is the following: If a nation would adopt Bitcoin or a Bitcoin-backed currency as its prime money, how would the price formation of goods and services work? In my mind it would mostly depend on how much Bitcoin or currency is circulating inside that economy, Bitcoins foreign exchange rate would only matter secondarily. What's your view?
Hi Lyn, I am a big fan of your work.
My question is the following:
If a nation would adopt Bitcoin or a Bitcoin-backed currency as its prime money, how would the price formation of goods and services work? In my mind it would mostly depend on how much Bitcoin or currency is circulating inside that economy, Bitcoins foreign exchange rate would only matter secondarily. What's your view?