{"id":51,"date":"2016-04-08T16:06:00","date_gmt":"2016-04-08T16:06:00","guid":{"rendered":"http:\/\/blog.holytransaction.com\/bitcoin-can-win-competition-with-fia\/"},"modified":"2016-04-08T16:06:00","modified_gmt":"2016-04-08T16:06:00","slug":"bitcoin-can-win-competition-with-fiat","status":"publish","type":"post","link":"https:\/\/holytransaction.com\/blog\/2016\/04\/bitcoin-can-win-competition-with-fiat.html","title":{"rendered":"Bitcoin can win the competition with Fiat currency"},"content":{"rendered":"<div style=\"text-align: justify;\">\nSome days ago the researchers of the <b>Federal Reserve Bank of Philadelphia<\/b> released a new whitepaper in which they explained that <b>bitcoin<\/b> and <b>digital currencies <\/b>can win the competition with <b>Fiat currency<\/b>, or the government money.<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\nOn April 3rd, in fact, <a href=\"http:\/\/economics.sas.upenn.edu\/~jesusfv\/cv.pdf\"><b>Jesus Fernandez-Villaverde<\/b><\/a> of the <b>University of Pennsylviania<\/b> and<b> Daniel Sanches<\/b> of the <b>Bank of Philadelphia<\/b> published an interesting paper that answers the question: <i>&#8220;can competition among privately issued fiat currencies such as Bitcoin or Ethereum work?&#8221;.<\/i><\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<h3 style=\"text-align: justify;\">\nBitcoin vs Fiat&nbsp;<\/h3>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\nIn this whitepaper Villaverde and Sanches try to explain how private and digital forms of money can interact (and could win the competition) with government-issued money.<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\nTo comment about this topic, the authors talked about the rise of the<b> Internet,<\/b> thanks to it, in fact, digital currencies such as Bitcoin or <b>Ethereum<\/b> can stand out in the competition with Fiat.<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\nThis is a comment of the whitepaper&#8217;s authors:<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\n<i>&#8220;Our model highlights how the issuing of a private currency is logically separated from banking. Both tasks were historically linked for logistical reasons: banks had a central location in the network of payments that made it easy for them to introduce currency in circulation\u201d.<\/i><\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<h3 style=\"text-align: justify;\">\nDownloadable whitepaper<\/h3>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\n<a href=\"https:\/\/www.scribd.com\/doc\/307354540\/Currency-Competition\">You can read and download the full whitepaper here<\/a> for free.&nbsp;<\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<div class=\"separator\" style=\"clear: both; text-align: center;\">\n<a href=\"https:\/\/4.bp.blogspot.com\/-gdtaQNDKl6s\/VwfTPMO9DmI\/AAAAAAAAAWw\/a17-Xf-pa9QR6cihnWdkX0FO7mK2W3NYg\/s1600\/Immagine.png\" imageanchor=\"1\" style=\"margin-left: 1em; margin-right: 1em;\"><img loading=\"lazy\" decoding=\"async\" border=\"0\" height=\"238\" src=\"https:\/\/holytransaction.com\/blog\/wp-content\/uploads\/2016\/04\/Immagine.png\" width=\"400\" \/><\/a><\/div>\n<div style=\"text-align: justify;\">\n<\/div>\n<h3>\n<b style=\"text-align: justify;\">Multicurrencies Wallet<\/b><\/h3>\n<div style=\"text-align: justify;\">\n<\/div>\n<div style=\"text-align: justify;\">\n<b><a href=\"https:\/\/holytransaction.com\/\" target=\"_blank\">Do you like cryptocurrencies? Open a new wallet here for FREE!&nbsp;<\/a><\/b><\/div>\n<div>\n<\/div>\n<p><\/p>\n<p>Open your free digital wallet <a href=\"https:\/\/holytransaction.com\/app#!\/signup\">here<\/a> to store your cryptocurrencies in a safe place.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Some days ago the researchers of the Federal Reserve Bank of Philadelphia released a new whitepaper in which they explained that bitcoin and digital currencies can win the competition with Fiat currency, or the government money. On April 3rd, in fact, Jesus Fernandez-Villaverde of the University of Pennsylviania and Daniel Sanches of the Bank of [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":2,"featured_media":450,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,76,172,197,270,291,566,665,684,687],"tags":[764,855,876,944,966,1222,1318,1336,1338],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.6 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin can win the competition with Fiat currency -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/holytransaction.com\/blog\/2016\/04\/bitcoin-can-win-competition-with-fiat.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin can win the competition with Fiat currency\" \/>\n<meta property=\"og:description\" content=\"Some days ago the researchers of the Federal Reserve Bank of Philadelphia released a new whitepaper in which they explained that bitcoin and digital currencies can win the competition with Fiat currency, or the government money. 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