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0 pointsarrosenberg5y ago0 comments

How it is challenging economic thinking? There is a near-zero chance cryptocurrencies replace an actual currency as the global reserve, so it's going to continue to be a novelty until people move on to something shinier.

> Not everyone gets paid in a stable currency or has easy access to it.

Bitcoin doesn't appear to solve this issue at all. How is private manipulation of Bitcoin any different than an authoritarian manipulating the local currency? If I was in a country with unstable currency, I'd want Euro or US Dollars, not bitcoin.

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ballofrubber5y ago

I think that the chairmen of the fed and ecb arguing about bitcoin is a strong signal of a challenge.

As I and the video mentioned Euro and USD is not easily accessible in those countries, Bitcoin doesn't need permission though.

What you refer to as private manipulation is called supply and demand, maybe try reading Econo101 :)

arrosenbergOP5y ago

> What you refer to as private manipulation is called supply and demand, maybe try reading Econo101 :)

Does Econ 101 cover asset bubbles or financial manipulation? It's been so long, that I can't remember, but I promise you that prices can reflect things other than supply and demand once you manage to get past that first class.

> Bitcoin doesn't need permission though

No authoritarian would EVER cut off or filter the internet in their country. Nope, has never happened, will never happen.

ballofrubber5y ago

> No authoritarian would EVER cut off or filter the internet in their country. Nope, has never happened, will never happen.

You're right, Myanmar just did that! Scary to think of it. Fortunately Bitcoin works over more communication protocols, but no internet is certainly not in any way easily defendable today. But i still think that physical and banked usd, euros and gold are more easily seizable by a government. A no internet scenario is probably economic suicide by any government.

I really don't get what you mean by financial manipulation in regards to bitcoin.

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ballofrubber5y ago

I think that the chairmen of the fed and ecb arguing about bitcoin is a strong signal of a challenge.

As I and the video mentioned Euro and USD is not easily accessible in those countries, Bitcoin doesn't need permission though.

What you refer to as private manipulation is called supply and demand, maybe try reading Econo101 :)

arrosenbergOP5y ago

> What you refer to as private manipulation is called supply and demand, maybe try reading Econo101 :)

> Bitcoin doesn't need permission though

No authoritarian would EVER cut off or filter the internet in their country. Nope, has never happened, will never happen.

ballofrubber5y ago

> No authoritarian would EVER cut off or filter the internet in their country. Nope, has never happened, will never happen.

I really don't get what you mean by financial manipulation in regards to bitcoin.

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