Archive for the ‘economics’ Category

Bitcoin exchange rate drops 50%! MtGox fail! And more…

Wednesday, 10 April 2013 by Mike Gogulski
economics, technology | 3 Comments »

Bitcoin down 50% today! THE SKY IS FALLING!!! But what's really going on? [caption id="attachment_4277" align="alignright" width="300"] MtGox screwup causes Bitcoin market crash[/caption] The problem, I believe, is that MtGox's websockets API stopped working a few hours ago. This took any and ...
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Bitcoin does not have a “market capitalization”

Thursday, 28 March 2013 by Mike Gogulski
economics, technology | Comments Off on Bitcoin does not have a “market capitalization”

Great news today via Bitcoin Magazine: Bitcoin Market Capitalization Hits $1 Billion: The New Era of Institutional Investors Of course, I'm happy with this news, but the terminology being employed in so many places is simply incorrect. Market capitalization is defined as the ...

Bitcoin history: US dollar parity on 9 February 2011

Wednesday, 9 February 2011 by Mike Gogulski
economics, technology | 4 Comments »

Today is a day of awesome. Bitcoin, the peer-to-peer, pseudonymous cryptocurrency, has reached market parity with the US dollar for the first time. Exchange rate graph from the largest Bitcoin exchanger, Mt Gox (click to enlarge): [caption id="attachment_4045" align="aligncenter" width="480" caption="Parity party! ...

Nigeria gets a new flag

Thursday, 9 December 2010 by Mike Gogulski
economics | 1 Comment »

Following revelations today from Wikileaks that the Nigerian government has been totally 0wn3d by Royal Dutch Shell, Nigerian President Goodluck Johnathan unveiled a new flag for the constitutional republic and its 153 million people.

Who wants to be a trillionaire?

Wednesday, 25 November 2009 by Mike Gogulski
economics | 2 Comments »

Over at my Big Banknotes web shop, today I've added the one hundred trillion Zimbabwe dollars note for sale -- while supplies last! [caption id="attachment_3463" align="aligncenter" width="480" caption="One hundred trillion Zimbabwe dollars (uncirculated) - a real steal at $6.99!"][/caption] Several 1993-series Yugoslav ...

Black markets vs. free markets

Friday, 20 November 2009 by Mike Gogulski
economics, philosophy | 7 Comments »

On a private mailing list, someone asked: Aren't Black Markets and Free Markets mutually Exclusive? Free markets don't exist in any real sense anywhere today. State prohibitions, subsidies, taxes, regulation, privilege and the rest make them impossible on any substantial scale. "Black market" ...

The logic of the day

Friday, 18 September 2009 by Mike Gogulski
economics | 5 Comments »

Translated from Martin Rojko's Súkromné vlastníctvo blog: If the pressure of new money can cause growth in the economy, why not then pump it in massively, and evoke tremendous economic growth? By doing so, the central banks could long ago have ...

Five hundred billion dinars. Do you have change for this?

Tuesday, 25 August 2009 by Mike Gogulski
economics | 34 Comments »

UPDATE: This is now for sale, along with others, at my new site, Big Banknotes. Five hundred billion dinars. Yugoslavia, 1993. [caption id="attachment_2974" align="aligncenter" width="491" caption="Five hundred billion dinars - Yugoslavia 1993 XF/EF - Click image for full-size scan"][/caption] This note once held ...

Insurance in an un-free market

Monday, 17 August 2009 by Mike Gogulski
economics, history | 7 Comments »

How many insurance products are you paying for? How much do you pay? What do you really get for all that? Is it a good deal? For American families, the list of insurance types they subscribe to includes most of ...

Medical Insurance that Worked — Until Government “Fixed” It

Wednesday, 22 July 2009 by Mike Gogulski
activism, economics | 2 Comments »

Originally posted by Darian Worden at Fr33 Agents Social (join now!): Roderick Long wrote a great article on how mutual aid groups enabled low-income people to provide for each others' health care needs until government shut the system down. In the ...
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