1、外文标题： Nerdy Money: Bitcoin, the Private Digital Currency, and the Case Against its Regulation 外文作者： Nikolei M. Kaplanov 文献出处 : Social Science Electronic Publishing , 2012 英文 3698单词， 19887字符，中文 5789汉字。 此文档是外文翻译成品，无需调整复杂的格式哦！下载之后直接可用，方便快捷！只需二十多元。 原文： Nerdy Money: Bitcoin, the Private Digital Currency,
2、 and the Case Against its Regulation Nikolei M. Kaplanov In 1601, Elizabeth I and her government devalued the Irish coin from nine ounces fine to three ounces fine of silver in order to finance the high cost of the Nine Years War in Ireland. This unilateral move by the English government, combined w
3、ith the failure to remove the old sterling from circulation, caused catastrophic problems throughout Ireland. In addition to rapid inflation in common foodstuffs, Irish citizens would only accept the new coin at its reduced intrinsic value rather than its face value. Further, merchants refused to ac
4、cept the devalued coin in commercial transactions, which led to a shortage of vital goods from England. While the Irish experience during the Nine Years War is just one example of a governments complete control over money in the marketplace, this practice has continued throughout much of history and
5、 persists even today.5 Even the United States experimented with privately issued currency for a number of years,6 but it ultimately legislated these private notes out of existence in favor of the greenbacks,7 which would later be controlled by the Federal Reserve System.8 While some have argued that
6、 governments should not have any control over the money supply,9 with the exception of some local alternative currenc ies, people have not had any other choice. One of the reasons that government has maintained such a monopoly over currency is because there has never been an alternative that can offer the security of traditional money with the convenience of financial institutions that permit worldwide commerce.11 This changed with the creation of bitcoin. Bitcoin is the worlds first
