This is a short update of a previous post about Mises´s Regression Theorem. Mises wrote the following on his Theory of Money and Credit (chapter 8 ): “Before an economic good begins to function as money it must already possess exchange value based on some other cause than its monetary function. But money that already functions as such may remain valuable even when the original … Seguir leyendo Bitcoins and Mises´s Regression Theorem (II)