The Future of Bitcoin Banking

F. A. Hayek recognized that Denationalisation of Money goes hand in hand with free-market banking. So what the future of Bitcoin Banking should look like cannot be ignored.

“The suggested extension of the free trade in money to free trade in banking is an absolutely essential part of the scheme if it is to achieve what is intended.”

F. A. Hayek

“The suggested extension of the free trade in money to free trade in banking is an absolutely essential part of the scheme if it is to achieve what is intended.” Freidrich A. Hayek

Within the sound money bitcoin movement, there is a wide variety of opinions on how we should proceed. And the purpose of The Bitcoin Standard Conference is to provide a gathering to further the in-house discussion of bitcoin standard money and banking theory and practice.

Perhaps the best way to begin is to examine what E. C. Harwood described nearly 50 years ago as The Lost Art Of Commercial Banking which was the organic innovation developed in the marketplace leading to what is known in the United States as “The Gilded Age.”

While the new innovation of bitcoin has somewhat lessened the need for Harwood’s “wise and honest men” by replacing the integrity of gold with the integrity of a secure code and network, without a change in human values and advancement of sound commercial banking, bitcoin will likely remain stuck in the loop of a lousy store of value, suck as cash, and yet continue as worthy speculation.