By Dan Kervick
I appeared today on The Attitude, broadcast by WNHN 94.7 in Concord, New Hampshire, to talk with host Arnie Arnesen about the Bitcoin phenomenon. The podcast of the second hour of the show can be accessed at the link below. My appearance occurs right at the beginning of the hour:
The purpose of our brief discussion was just to provide some general background information for Arnie’s listeners about Bitcoin, including what bitcoins are and why anyone would buy them or accept them in exchange for goods and services. We touched on several topics related to the Bitcoin phenomenon, but there is one very peculiar and puzzling feature of Bitcoin that we didn’t get to discuss and that seems especially important to me: the Bitcoin system has what appears to be a built-in deflationary architecture.