[Quantlib-dev] [OFFTOPIC] Hayek Money: The Cryptocurrency Price Stability Solution

[Ferdinando M. A. <fer...@am...>]

Hi all

hopefully I am not abusing my role posting this: it's not QuantLib, but
Bitcoin is open source finance.

I would love to introduce my latest paper to the QuantLib community:
Hayek Money: The Cryptocurrency Price Stability Solution
http://ssrn.com/abstract=2425270

I consider this work my most relevant achievement ever, and I would love to
receive feedback, privately or on the following forums:
http://redd.it/24p2qt
https://bitcointalk.org/index.php?topic=595588

thank you

ciao -- Nando

Abstract: The Bitcoin protocol has enabled competition between digital
cryptocurrencies and traditional legal tender fiat currencies. Despite
impressive cryptocurrency adoption rate, dramatic inflationary price
instability has thwarted affirmation of the cryptocurrency leadership.
Price stability can be achieved by dynamically rebasing the outstanding
amount of money: the number of currency units in every digital wallet is
adjusted instead of each single unit changing its value. This monetary base
adjustment has neutral impact on the overall wallet wealth, as it does not
introduce any arbitrary distortion into the intrinsic value dynamics of the
wallet. The adjustment is based on a commodity price index determined with
a resilient consensus process that does not rely on central third party
authorities. It is posited in this paper that a digital cryptocurrency
adopting such monetary policy is Hayek Money, so named from the Nobel
Prize-winning economist: namely the best money ever devised, the new good
money standard providing stable prices for a new economic era.