2min chapter

The "What is Money?" Show cover image

How Bitcoin Will End Currency Counterfeiting with Michael Goldstein (WiM252)

The "What is Money?" Show

CHAPTER

Coin Clipping and Other Forms of Seniorage by Fraud

A state has a natural tendency towards using mints as an attack vector. So you can start shaving off the value of coins by melting them down and then reminting them, which is effectively senior age. You can also defraud people who are holding that coin to make it even more valuable. That's what Hoppe is talking about in his article "The Power Of The Mint"

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