Thursday, November 30, 2023

Cantillon Overdrive…and the Bitcoin Breakout

by Mark E. Jeftovic, Bombthrower:

What we now call “The Cantillon Effect” was known far back as circa-1730, by at least one economist.  It hasn’t been taken very seriously in modern times, especially here in the fiat age.

Named after its author, Richard Cantillon, in his “Essay on Economic Theory” (“Essai sur la Nature du Commerce en Général”) — it is his only surviving work and was published posthumously in 1755, more than 20 years after he was murdered by a former cook whom he had dismissed from his household. The disgruntled ex-employee, returned by night, robbed his home, then set it ablaze, with Cantillon — and the rest of his manuscripts, within.

Bitcoin Explodes Higher On “Heavily Institutional” Buying

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from ZeroHedge:

Bitcoin prices have exploded higher overnight, nearing $38,000, with the renewed bullish tone attributed to a combination of factors, including resurgent institutional interest, growing adoption, and a favorable macroeconomic climate.

Bitcoin prices have exploded higher overnight, nearing $38,000, with the renewed bullish tone attributed to a combination of factors, including resurgent institutional interest, growing adoption, and a favorable macroeconomic climate.

Bitcoin white paper turns 15 as Satoshi Nakamoto’s legacy lives on

by Brayden Lindrea, Coin Telegraph:

“I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi wrote in an Oct. 31 email in 2008.

Today marks 15 years since the pseudonymous creator of Bitcoin, Satoshi Nakamoto, shared the Bitcoin white paper to a mailing list of cryptographers on Oct. 31, 2008 — a date also annually celebrated as Halloween.

Gary Gensler’s Bitcoin ETF position is ‘inconsistent’… says Gary Gensler

by Jesse Coghlan, Coin Telegraph:

During a panel at the 2019 MIT Bitcoin Expo, Gensler called out the securities regulator for its “inconsistent” approach to spot Bitcoin ETF approvals.

Gary Gensler once criticized the United States securities regulator for its “inconsistent” approach to spot Bitcoin

The video clip, which has recently made the rounds again on social media, shows the pre-SEC Gensler discussing blockchain regulation at the 2019 MIT Bitcoin Expo in a fireside chat with United States Securities and Exchange Commission Commissioner Hester Peirce.