This paper imagines a world in which countries are on the Bitcoin standard, a monetary system in which all media of exchange are Bitcoin or are backed by it. The paper explores the similarities and differences between the Bitcoin standard and the gold standard and describes the media of exchange...

In January 1929 the Canadian government suspended gold exports and began a floating exchange rate regime that endured until the onset of World War 11. In sharp contrast with the experience of other countries which left the gold standard, deflation and declining economic activity continued in...