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Kate Andrews Kate Andrews

ASI Fellow Preston Byrne quoted in Business Insider

Adam Smith Institute Fellow, Preston Byrne, was quoted in Business Insider talking about the value of bitcoin.

Read the article here.

"According to Preston Byrne, a securitization attorney in London the answer to this is “that the value of bitcoin used in a colored coin transaction does not need to bear any relationship to the value of the associated asset – the network is being used to transmit information, and that information represents rights, and is the rights – not the token – which are valuable.”  If the price of bitcoin does not adequately incentivize the miners, then there will be a difference between value of a bitcoin and the network and then some entity will have to step in to compensate for that difference.  Whether collective action is sufficient to provide this compensation is currently unknown but there are coordination problems inherent in this model that would make this difficult."

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Kate Andrews Kate Andrews

Sam Bowman writes for City AM

Research Director of the Adam Smith Institute, Sam Bowman, wrote a comment piece for City AM on Google's new driverless cars.

Read the article here.

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Kate Andrews Kate Andrews

Sam Bowman writes for IBTimes on Tax Freedom Day

Research Director of the Adam Smith Institute, Sam Bowman, wrote a comment piece for the International Business Times on Tax Freedom Day.

Read the article here.

The Adam Smith Institute has calculated that Tax Freedom Day 2014 falls on 28th May.

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Kate Andrews Kate Andrews

Tax Freedom Day 2014 featured in the Independent

The Adam Smith Institute has calculated that Tax Freedom Day 2014 falls on 28th May.

Read the Independent's article on Tax Freedom day here.

"According to the free market think tank the Adam Smith Institute, today is "Tax Freedom Day" for the UK – the date on which the average person has paid their share of tax and is now effectively working for themselves.

But the Treasury used the occasion to point out that in an independent Scotland, taxpayers would have to wait until 13 June to reach the same point."

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