Topic: Did Milton Friedman predict Zerocoin? (Read 963 times)
FYI, Friedman had a few discussions about Bitcoin-esque ideas in the 1970s. I'd have to dig around to find the video, but I believe it was part of his PBS Free to Choose series about monetarist policy and the great depression, and how ideal currencies should have a steady, static increase of supply (similar to BTC) over time.
Friedman would LOVE bitcoin / cryptocurrencies.
The main detraction that most libertarians have with Friedman's ideology was that he advocated an "ideal" increase in the money supply - which could only be enforced (at the time) by a central authority, either a government or the federal reserve. He himself didn't like that idea, but it was the only option at the time. Albeit Bitcoin uses a different rate of money supply increase than what Friedman likely would have adocated, cryptocurrencies allow friedman's theory to operate in a truly free society, free of centralized authority.
His son David Friedman (a better intellectual than his father, IMO) also loves bitcoin.
The main detraction that most libertarians have with Friedman's ideology was that he advocated an "ideal" increase in the money supply - which could only be enforced (at the time) by a central authority, either a government or the federal reserve. He himself didn't like that idea, but it was the only option at the time. Albeit Bitcoin uses a different rate of money supply increase than what Friedman likely would have adocated, cryptocurrencies allow friedman's theory to operate in a truly free society, free of centralized authority.
His son David Friedman (a better intellectual than his father, IMO) also loves bitcoin.
Awesome video showing Milton's great perception ... thanks for posting that Calian!
Think of all the futuristic sci-fi movies -- almost all of those movies perceive us as using some type of purely digital (perhaps anonymous) currency in the future. It's an inevitability.
Jump to: