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Living Room / Re: BoingBoing Update on Bitcoin Alternatives
« Last post by mouser on September 08, 2011, 07:44 PM »Paul Krugman (highly regarded economist and writer at the NY Times) has a short piece today on bitcoin:
http://krugman.blogs...golden-cyberfetters/
What we want from a monetary system isn’t to make people holding money rich; we want it to facilitate transactions and make the economy as a whole rich. And that’s not at all what is happening in Bitcoin... So to the extent that the experiment tells us anything about monetary regimes, it reinforces the case against anything like a new gold standard – because it shows just how vulnerable such a standard would be to money-hoarding, deflation, and depression.
http://krugman.blogs...golden-cyberfetters/

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