 In stark contrast, a number of libertarian authors have defended the view that the central bank should have no role in money creation, with the money supply being entirely a matter for private suppliers (and with the consumers of money able to choose between different rival suppliers), under a system of “free banking” (e.g., Simons 1936; Friedman 1962; von Hayek 1978; Selgin 1988). Advocacy of private money creation has received a more recent stimulus with the rise of Bitcoin and other crypto-currencies, with some of Bitcoin’s advocates drawing on similar libertarian arguments to those offered by Hayek and Selgin (see Golumbia 2016).