Bitcoin, The Regression Theorem, and the Emergence of a New Medium of Exchange

Detalhes bibliográficos
Autor(a) principal: Davidson, Laura
Data de Publicação: 2017
Outros Autores: Block, Walter
Tipo de documento: Artigo
Idioma: por
Título da fonte: Mises
Texto Completo: https://revistamises.org.br/misesjournal/article/view/43
Resumo: A recent controversy has brewed over whether or not the emergence of bitcoin, as a new medium of exchange, is in accordance with Mises’s regression theorem. The main question in the debate seems to be, is bitcoin valued in direct use? The present paper contends that with respect to the regression theorem, this issue has no bearing on bitcoin’s genesis, because it is relevant only when a new medium of exchange arises out of a pure barter economy. The debate is therefore predicated on a misinterpretation of the theorem. However, the issue of bitcoin’s direct-use value, if it has one, does have relevance in assessing the likelihood it will become a generally-accepted medium of exchange—i.e. money.
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spelling Bitcoin, The Regression Theorem, and the Emergence of a New Medium of ExchangeBitcoin, o teorema da regressão e a emergência de um novo meio de trocadinheirobitcointeorema da regressãoMisesmoneybitcoinregression theoremMisesA recent controversy has brewed over whether or not the emergence of bitcoin, as a new medium of exchange, is in accordance with Mises’s regression theorem. The main question in the debate seems to be, is bitcoin valued in direct use? The present paper contends that with respect to the regression theorem, this issue has no bearing on bitcoin’s genesis, because it is relevant only when a new medium of exchange arises out of a pure barter economy. The debate is therefore predicated on a misinterpretation of the theorem. However, the issue of bitcoin’s direct-use value, if it has one, does have relevance in assessing the likelihood it will become a generally-accepted medium of exchange—i.e. money.A controvérsia acerca da emergência do bitcoin como um novo meio de troca e sua conciliação com o teorema da regressão de Mises tem se intensificado nos últimos tempos. A questão principal do debate pode ser assim formulada: teria o bitcoin um valor de uso direto? O presente estudo afirma que o teorema da regressão não tem aplicabilidade à questão da gênese do bitcoin, pois o teorema limita-se a explicar a emergência de um novo meio de troca sob uma economia de troca pura ou escambo. O debate, portanto, está fundamentado em um erro de interpretação do teorema. Entretanto, a questão do valor de uso direto do bitcoin, se é que se pode afirmar que exista, tem sim importância para a avaliação da probabilidade de o bitcoin tornar-se um meio de troca generalizadamente aceito – isto é, dinheiro.Instituto Mises Brasil2017-12-09info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://revistamises.org.br/misesjournal/article/view/4310.30800/mises.2017.v5.43MISES: Interdisciplinary Journal of Philosophy, Law and Economics; Vol. 5 No. 1 (2017): MISES: Interdisciplinary Journal of Philosophy, Law and Economics, continuação de MISES: Revista Interdisciplinar de Filosofia, Direito e Economia a partir de janeiro de 2018; 83-98MISES: Interdisciplinary Journal of Philosophy, Law and Economics; Vol. 5 Núm. 1 (2017): MISES: Interdisciplinary Journal of Philosophy, Law and Economics, continuação de MISES: Revista Interdisciplinar de Filosofia, Direito e Economia a partir de janeiro de 2018; 83-98MISES: Interdisciplinary Journal of Philosophy, Law and Economics; v. 5 n. 1 (2017): MISES: Interdisciplinary Journal of Philosophy, Law and Economics, continuação de MISES: Revista Interdisciplinar de Filosofia, Direito e Economia a partir de janeiro de 2018; 83-982594-91872318-0811reponame:Misesinstname:Instituto Mises Brasilinstacron:IMBporhttps://revistamises.org.br/misesjournal/article/view/43/9Davidson, LauraBlock, Walterinfo:eu-repo/semantics/openAccess2019-06-08T02:31:15Zoai:ojs.emnuvens.com.br:article/43Revistahttps://revistamises.org.br/misesjournalPRIhttps://revistamises.org.br/misesjournal/oairevista@mises.org.br2594-91872318-0811opendoar:2019-06-08T02:31:15Mises - Instituto Mises Brasilfalse
dc.title.none.fl_str_mv Bitcoin, The Regression Theorem, and the Emergence of a New Medium of Exchange
Bitcoin, o teorema da regressão e a emergência de um novo meio de troca
title Bitcoin, The Regression Theorem, and the Emergence of a New Medium of Exchange
spellingShingle Bitcoin, The Regression Theorem, and the Emergence of a New Medium of Exchange
Davidson, Laura
dinheiro
bitcoin
teorema da regressão
Mises
money
bitcoin
regression theorem
Mises
title_short Bitcoin, The Regression Theorem, and the Emergence of a New Medium of Exchange
title_full Bitcoin, The Regression Theorem, and the Emergence of a New Medium of Exchange
title_fullStr Bitcoin, The Regression Theorem, and the Emergence of a New Medium of Exchange
title_full_unstemmed Bitcoin, The Regression Theorem, and the Emergence of a New Medium of Exchange
title_sort Bitcoin, The Regression Theorem, and the Emergence of a New Medium of Exchange
author Davidson, Laura
author_facet Davidson, Laura
Block, Walter
author_role author
author2 Block, Walter
author2_role author
dc.contributor.author.fl_str_mv Davidson, Laura
Block, Walter
dc.subject.por.fl_str_mv dinheiro
bitcoin
teorema da regressão
Mises
money
bitcoin
regression theorem
Mises
topic dinheiro
bitcoin
teorema da regressão
Mises
money
bitcoin
regression theorem
Mises
description A recent controversy has brewed over whether or not the emergence of bitcoin, as a new medium of exchange, is in accordance with Mises’s regression theorem. The main question in the debate seems to be, is bitcoin valued in direct use? The present paper contends that with respect to the regression theorem, this issue has no bearing on bitcoin’s genesis, because it is relevant only when a new medium of exchange arises out of a pure barter economy. The debate is therefore predicated on a misinterpretation of the theorem. However, the issue of bitcoin’s direct-use value, if it has one, does have relevance in assessing the likelihood it will become a generally-accepted medium of exchange—i.e. money.
publishDate 2017
dc.date.none.fl_str_mv 2017-12-09
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://revistamises.org.br/misesjournal/article/view/43
10.30800/mises.2017.v5.43
url https://revistamises.org.br/misesjournal/article/view/43
identifier_str_mv 10.30800/mises.2017.v5.43
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://revistamises.org.br/misesjournal/article/view/43/9
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Instituto Mises Brasil
publisher.none.fl_str_mv Instituto Mises Brasil
dc.source.none.fl_str_mv MISES: Interdisciplinary Journal of Philosophy, Law and Economics; Vol. 5 No. 1 (2017): MISES: Interdisciplinary Journal of Philosophy, Law and Economics, continuação de MISES: Revista Interdisciplinar de Filosofia, Direito e Economia a partir de janeiro de 2018; 83-98
MISES: Interdisciplinary Journal of Philosophy, Law and Economics; Vol. 5 Núm. 1 (2017): MISES: Interdisciplinary Journal of Philosophy, Law and Economics, continuação de MISES: Revista Interdisciplinar de Filosofia, Direito e Economia a partir de janeiro de 2018; 83-98
MISES: Interdisciplinary Journal of Philosophy, Law and Economics; v. 5 n. 1 (2017): MISES: Interdisciplinary Journal of Philosophy, Law and Economics, continuação de MISES: Revista Interdisciplinar de Filosofia, Direito e Economia a partir de janeiro de 2018; 83-98
2594-9187
2318-0811
reponame:Mises
instname:Instituto Mises Brasil
instacron:IMB
instname_str Instituto Mises Brasil
instacron_str IMB
institution IMB
reponame_str Mises
collection Mises
repository.name.fl_str_mv Mises - Instituto Mises Brasil
repository.mail.fl_str_mv revista@mises.org.br
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