LewRockwell.com claims to be “anti-state”, yet on March 28, 2013, Lew Rockwell wrote on his blog:
“John Carney writes about what Cypriot banksterism has done for Bitcoins. However, they are not money, but a (we hope) private way to transfer funds. Money is what you can take to Kroger’s and exchange for groceries.“
This is an amazing admission from a man who has made a career out of blasting government, and it’s also bizarre for him to be calling government-issued currency money in the same sentence as claiming Bitcoin isn’t money, despite it being non-coercively issued and exchanged.
I have pointed out several times on my radio program that the primary function of money is as a medium of exchange, and Bitcoin meets that test. If one were to question Bitcoin as a store of value, then one must also question gold as a medium of exchange, since it has more use as a store of value than as a medium exchange, and therefore doesn’t primarily function as the primary characteristic of money.
For more on Lew Rockwell, see my articles:
1) Lew Rockwell “banned” this Paul Craig Roberts article — we think you have the right to see it
2) Tom Woods had no time for a Bitcoin conference, yet had time to misrepresent government-issued currencies
3) Lew Rockwell.com’s latest pro-state article
4) Lew Rockwell entered into a voluntary agreement with the same government he regards as “far worse than the mafia”
5) Lew Rockwell says MSNBC is blocking their regular contributor, Pat Buchanan, from discussing his new book, but what about LewRockwell.com keeping certain articles by its regular contributors from its readers?