Bitcoin is not for goverment. Bitcoin is digital currency of the internet • Hacker News Board

Re: Bitcoin is not for goverment. Bitcoin is digital currency of the internet

#61

Post by s_q_b » Tue, Mar 03, 2015, 4:32 PM UTC

SocksCanClose wrote: post #44

leereeves wrote: post #16

Earlier quoted context omitted.

Much of the appeal of Bitcoin is the limited supply. But from a Keynesian government point of view, that's a flaw. A sovereign cryptocurrency without that limitation might be an interesting alternative to cash, but the bulk of our money couldn't be in a "hard" cryptocurrency unless we also eliminated fractional reserve banking. (Why? In short, with fractional reserve banking, the total value of everyones checking and…

hmmm... seems to me your reasoning rests on the reasoning of Keynes? what if Keynes is wrong?

Then the Great Depression becomes a lot more difficult to explain.

Re: Bitcoin is not for goverment. Bitcoin is digital currency of the internet

#62

Post by deweller » Wed, Mar 04, 2015, 7:21 PM UTC

Retra wrote: post #29

deweller wrote: post #26

Earlier quoted context omitted.

> you'd be far less willing to spend any or invest ... This will reduce consumption and investment in the larger economy Or maybe consumers will stop buying the latest and greatest just because advertisers convinced them it will make them happy. Instead, consumers will demand higher quality products, which increases overall spending on R&D instead and decreases spending on marketing. Then we will all have better prod…

I see a lot of non-sequiturs in your reasoning here.

Granted. It is really a hope more than a well-thought out argument.

Re: Bitcoin is not for goverment. Bitcoin is digital currency of the internet

#63

Post by javert » Wed, Mar 11, 2015, 12:56 AM UTC

oafitupa wrote: post #60

javert wrote: post #59

Earlier quoted context omitted.

We don't know that Satoshi was a libertarian, or an anarco-capitalist. Chances are, he wasn't (isn't).

You don't have any evidence about that. And like I said, he expressed all kinds of libertarian ideas, so chances are he is.

There is no such thing as a "libertarian ideas." Libertarianism is a specific movement, not a specific ideology.