Economics


A codification scheme for state machines
By Craig Wright | 16 Oct 2018 | Alternative Coins & Systems, Economics, Math

We define a codification scheme for the states of deterministic finite automaton (DFA) [1]. Contrary to usual practice, the codification

Digital signature rules and their relationship to bitcoin
By Craig Wright | 16 Oct 2018 | Bitcoin & Blockchain Tech, Economics

UNCITRAL Model Law on Electronic Signatures with Guide to Enactment (2001) has been widely adopted. The Electronic Signature Law of

The tax implications of bitcoin as money
By Craig Wright | 14 Oct 2018 | Bitcoin & Blockchain Tech, Economics, Law & Regulation

As Bitcoin does not need to be held or processed by a financial institution[1], many people have concluded that they

The collectivist insanity
By Craig Wright | 12 Oct 2018 | Bitcoin & Blockchain Tech, Economics, Philosophy

The syllogism goes – Socialism has been a failure everywhere it has been tried; This fact is known and everyone

Bitcoin (BCH) Vending machine
By Craig Wright | 10 Oct 2018 | Bitcoin & Blockchain Tech, Economics

In this post, we look at what it would take to create a Bitcoin (BCH) Vending machine. In order to

Hidden costs
By Craig Wright | 06 Oct 2018 | Bitcoin & Blockchain Tech, Economics

The flaw in stating that economic calculations cannot be conducted is the constant cry that not all costs can be

The Labour Fallacy of Bitcoin Value
By Craig Wright | 05 Oct 2018 | Bitcoin & Blockchain Tech, Economics

The error made in the argument that free movements of people will “take our jobs” is that of a fixed

The infinite money fallacy
By Craig Wright | 04 Oct 2018 | Bitcoin & Blockchain Tech, Economics, Math

There is a mistaken notion that an infinite number of monkeys, if given time and an infinite number of sturdy

The error in Coase
By Craig Wright | 02 Oct 2018 | Alternative Coins & Systems, Economics

Ron Coase made several errors in his theory of transactional processes in economics. Most critically, he has failed to note

The application, scope and limits of Letters of Indemnity in Bitcoin Contracts

Introduction The Bill of Lading is a document unique document as its negotiability fulfils several purposes. These documents have led

Bitcoin and Contracts
By Craig Wright | 29 Sep 2018 | Bitcoin & Blockchain Tech, Economics, Law & Regulation

There are a number of contractual issues that used to be associated with e-mail that apply to Bitcoin today. There

The postal acceptance rule in Bitcoin
By Craig Wright | 27 Sep 2018 | Bitcoin & Blockchain Tech, Economics, Law & Regulation

The postal acceptance rule states that where an acceptance is to be sent by post, the contract associated with that

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