Tagged in

Economics

Mike Talks About Bitcoin

I write about bitcoin for the people unfamiliar with the technology

More information

Followers

Elsewhere

More, on Medium

Economics

Michael Kerbleski in Mike Talks About Bitcoin

Sep 12, 2017

When The Clock Strikes Midnight…

And Money Turns Back Into The Paper It Is — Post #9

Remember the guy in Post #6 who created notes that didn’t represent actual value? Well if he creates too many, the money will eventually inflate and have less…

Michael Kerbleski in Mike Talks About Bitcoin

Sep 11, 2017

The Other Way Dollars are “Made”.

How the Fed Affects the Money Supply — Post #8

Last post I covered how money is created through deposits at banks. This technique is called fractional reserve banking. As a review, banks only store some of the…

Michael Kerbleski in Mike Talks About Bitcoin

Sep 7, 2017

Where’s My Money?

An Intro to Banking and Monetary Policy — Post #7

Let’s say I get a job, and they pay me $100. I take it to a bank because my mom always told me it’s where we keep money safe.

Michael Kerbleski in Mike Talks About Bitcoin

Sep 6, 2017

Monopoly Money

When Money Stops Representing Objects — Post #6

In the analogy from yesterday…

The money was backed by grain. Users of the money trusted they could return their paper or coins for grain, because the money (notes and…

Michael Kerbleski in Mike Talks About Bitcoin

Aug 29, 2017

Bitcoin has a Flaw

Introduction — Post #1

There are many strengths, but the biggest flaw I have discovered is how difficult it is to explain. I’m sure some people have a succinct elevator pitch or a well written tweet on the topic, but I have found that to properly explain…