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In 1999, {US|United States} {economist|economic expert|financial expert} {and|as well as|and also} Nobel {prize|reward} {winner|champion|victor} in Economics Milton Friedman {aptly|appropriately} {predicted|anticipated|forecasted} the {rise|increase|surge} of {digital|electronic} {currencies|moneys} such as Bitcoin.

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  1. 1. Nobel Laureate Milton Friedman Predicted Bitcoin Era 17 Years Ago /nobel-laureate-milton-friedman-predicted-bitcoin-era-17-years-ago/ In 1999, US economist and Nobel prize winner in Economics Milton Friedman aptly predicted the rise of digital currencies such as Bitcoin. Friedman is considered one of the most influential economists and thinkers of the 20th century. Heading of the the Chicago School of Economics, he was a strong advocate of economic liberty, free markets and free enterprise. In an interview conducted by NTU/F in 1999, Friedman said: “The one thing that’s missing, but that will soon be developed, it’s a reliable e-cash. A method where buying on the Internet you can transfer funds from A to B, without A knowing B or B knowing A. The way in which I can take a 20 dollar bill and hand it over to you and there’s no record of where it came from. And you may get that without knowing who I am. That kind of thing will develop on the Internet.” 1/4
  2. 2. Bitcoin’s role in economics Friedman was considered among the most well-known and influential economists in the 20th century. He was a strong advocate of liberty, free markets, as well as free enterprise. He also led the Chicago School of Economics in Illinois. Friedman studied at Rutgers University, where he specialized in mathematics and economics. He graduated from the university in 1932. During his time at the school, however, he was influenced by economics professors Arthur F. Burns and Homer Jones. In the 1960s, Friedman vigorously opposed the Keynesian economic policies of the US government. Bitcoin, meanwhile, is a digital payment system and a cryptocurrency that was launched as an open-source software in 2009. It is considered as the first decentralized digital currency in the world because it effectively workswithout the need of a central repository or a single administrator. Based on a study published by Cambridge University in 2017, there are already around 2.9 to 5.8 mln users of cryptocurrency wallet around the world with a majority of the users reportedly using Bitcoin. Re-posted from by Charles Dearing July 7, 2017 I’m a huge fan of Milton Friedman. A strong supporter of free markets and capitalism. Amazing he had the vision to predict, as he called it, e-cash. Well, Mr. Friedman, it’s here. Become involved as a Bitcoin miner with one of the safest and transparent Bitcoin mines in the world–Dragon Mines. Click here for more information and also learn about a business opportunity. If you just want to be a miner, that’s fine too. Email: Share this post and help spread the love! 2/4
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  4. 4. Steven L. Rhyner Thank you for reading my posts! If you would like to connect, reach out to me on Facebook. 4/4