“Since bitcoin does not serve as a unit of account, most users need to convert bitcoin back and forth with traditional currency on exchanges, subjecting them to “microstructure” frictions and inter-exchange price uncertainty.”
At the New York Fed, our mission is to make the U.S. economy stronger and the financial system more stable for all segments of society. We do this by executing monetary policy, providing financial ...
“Since bitcoin does not serve as a unit of account, most users need to convert bitcoin back and forth with traditional currency on exchanges, subjecting them to “microstructure” frictions and inter-exchange price uncertainty.”
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Is Bitcoin Really Frictionless? - Liberty Street Economics
At the New York Fed, our mission is to make the U.S. economy stronger and the financial system more stable for all segments of society. We do this by executing monetary policy, providing financial ...
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