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Money and Helicopters: Bitcoin As an International Currency

December 11, 2014

This article, written by Foundation for Economic Education distinguished fellow and Heartland Institute policy advisor Jeffery Tucker, discusses the use of Bitcoin—an online peer-to-peer currency and payment system first developed in 2008—as an

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This article, written by Foundation for Economic Education distinguished fellow and Heartland Institute policy advisor Jeffery Tucker, discusses the use of Bitcoin—an online peer-to-peer currency and payment system first developed in 2008—as an alternative “international currency,” existing outside of traditional nation-based currencies.

Traditional currencies, Tucker says, require the calculation of foreign exchange conversion rates when traveling abroad. However, currencies unconnected to physical nations, such as Bitcoin, require no such conversions. Explaining the advantages of Bitcoin over physical currencies, he writes “there is no New Zealand vs. U.S. vs. Canadian vs. Brazilian Bitcoin. BTC is an international currency. It is one currency for the whole world. There is just Bitcoin and no other.”

Author
Jeffrey Tucker is Chief Liberty Officer and founder of Liberty.me, the global liberty community with advanced social and publishing features.
media@heartland.org @jeffreyatucker