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Is the Bitcoin Algorithm a ‘Robot Central Bank’ or is Bitcoin Free-Market Money?

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"Cryptocurrency does not avoid having a central bank. The bitcoin algorithm is, in effect, a central bank for bitcoin. Bitcoin has a robot central bank." I disagree, Miles. Yes, it is a designed system. But there is nothing about it that doesn't qualify as "free market."— George Selgin (@GeorgeSelgin) August 1, 2019 George, I think ...

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Miles Kimball
Miles Kimball is Professor of Economics and Survey Research at the University of Michigan. Politically, Miles is an independent who grew up in an apolitical family. He holds many strong opinions—open to revision in response to cogent arguments—that do not line up neatly with either the Republican or Democratic Party.

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