When my brother sent me this article from News Thump and suggested that it might be a good piece for my blog, I pointed out that some readers may actually believe it, and not realise that it was a piece of satire. His somewhat prejudiced retort was that those readers would be Queen's University students!
According to Robert Shiller , speaking at Davos, Bitcoin is a perfect example of a bubble - story here . Shiller sees Bitcoin as a backwards step in the evolution of money. George Selgin , a free banker, takes an opposing view - click here . Although he doesn't believe that Bitcoin is money, he sees its development as a fascinating turn in the evolution of money. In particular, he lauds the fact that Bitcoin production is constrained and cannot be infinite. There is a short video below where Bitcoin explain how it works.