In 1946, one of Friedrich Hayek’s best works was published, “The Use of Knowledge in Society”, which would then allow him to be awarded the Nobel Prize in Economics about 30 years later. 75 years have passed since the publication of that extraordinary work and we can still learn the lesson taught. No matter how much he, and Mises more than him, warned against the presumptuous knowledge of individuals supposedly wiser than everyone else: the proverbial “power grabbing” by central planners is now more rampant than ever. …


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There can be little doubt that central banks want to increase their control over money and how it is used. Sound money is crucial when it comes to defend people’s economic freedom against the overwhelming control on the part of the state and sound money is not forced by the state but is chosen by the people in the free marketplace. The actual fiat currencies we are accustomed to — be it the US dollar, the euro, the Chinese renminbi, the yen, or the Swiss franc — represent fake money, monopolized by the state.

Fake money is economically and socially…


The Eurozone is the true ‘problem-child’ in the global recovery-narrative. It already succumbed to recession in Q4 2019. There are also very few signs of an actual recovery in the currency bloc, reflected, for example, in collapsed industrial sentiment, which has not recovered. This does not bode well for the fragile European banking sector. Europe needs more than ever the principles that made it successful in medieval times: decentralization, free trade, and sound markets. Brexit can be the start. We need a Europe of Switzerlands and Lichtensteins rather than a United States of Europe. A step in the right direction…


Yesterday, we saw a strong increase in bitcoin above the $10,000 resistance against the US Dollar. BTC extended its rally above the $10,200 and $10,500 resistance levels to settle above a couple of crucial hurdles.

There was a break above the $11,000 level and the price settled well above the 100 hourly simple moving average. A new monthly high is formed near $11,422 and it is currently consolidating gains. It corrected lower below the $11,200 level.

However, the 50% Fib retracement level of the recent rally from the $10,275 low to $11,422 high acted as a strong support near $10,850…


The central bank’s balance sheet declined by $88 billion to $6.97 trillion (-1.5%) in the week ending July 8, having hit a record high of $7.16 trillion in early June, according to the data source Federal Reserve Bank of St. Louis. The decline is the largest in 11 years.

The drop is a sign of the Fed starting to unwind the liquidity-boosting measures rolled out over the past four months to counter the economic effects of the coronavirus crisis. Some have anticipated a pullback in bitcoin prices as a result.

That’s because the leading cryptocurrency by market value has recently…


Despite the 2018 bear market, market players continued to support the effort to adopt cryptocurrencies. And despite the headwinds, those who our posts on Medium and fully understood what lies behind the world of cryptocurrencies were sure that crypto would survive. In 2020, even those who were skeptical are understanding this.

One of the reasons why market players include Bitcoin in their investment choices is because it will improve their overall performance. Cryptocurrencies are not related to canonical markets. In other words, their movements are not related to the stock market or general economic cycles. …


Bitcoin is gaining bullish momentum and it broke the $9,800 resistance zone against the US Dollar. BTC price is likely to continue higher if it settles above the $10,000 resistance zone.

  • Bitcoin is slowly moving higher and it is trading above the $9,800 and $9,720 support levels.
  • A successful daily close above the $10,000 level could spark a sharp rise in the near term.
  • There was a break above a key contracting triangle with resistance near $9,780 on the hourly chart of the BTC/USD pair.
  • There might be a short term correction, but the bulls are likely to protect $9,800…

Is your brother/sister birthday, or a friend of yours birthday, fast approaching? If you’re looking for the perfect gift for that special someone, who better to ask than an economist?

In 1993, Yale economist Joel Waldfogel published a famous paper on the optimal gift-giving strategy. His assessment won’t come as a surprise to anyone familiar with the buzz-killing tendencies of the dismal science: gift-giving holidays are inefficient. Indeed, Waldfogel found that holiday gift giving “destroys between one-third and one-tenth of the value of gifts.”

Why is gift giving inefficient? As Waldfogel notes, a standard principle of economics is that individuals…


By Melis on The Capital

Queries about the highly anticipated event peaked in the week ending April 11, the highest in bitcoin’s (BTC) 11-year history. It moved down 18 percent as of press time but remains at elevated levels. It remains double what it was for the week ending March 21.

Google Trends scale their searches on a range of 0 to 100 “based on a topic’s to all searches on a topic,” according to the company.

Bitcoin goes through a process called halving every four years. The inbuilt mechanism reduces the reward per block mined on bitcoin’s blockchain by 50 percent. Essentially, reward halving…


Bitcoin and its primary cryptocurrency competitors have been on a bumpy ride since the beginning of the year, and the tension among investors and enthusiasts is spilling over. Bitcoin maximalists, who believe that blockchain’s very first application is the only one of value, angrily condemn those who envision a competitive process fueling cryptocurrency adoption. Others see the conflicts among miners that defined 2017 as a point where the dream died.

But somewhat counterintuitively, if blockchain and the concept of cryptocurrencies truly has world-changing potential, we should still have very little idea how to use it. Blockchain is a foundational technology

Melis

MultiSignature, MultiUser, MultiDevice Bitcoin, Bitcoin Cash, Litecoin, Groestlcoin Wallet: https://www.melis.io/

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