The False Premises and Promises of Bitcoin · HackerPapers discussions

The False Premises and Promises of Bitcoin — mentioned by throw0101a

Thu, 21 Jan 2021 22:57:05 GMT

An observation from a paper I ran across: > An ECB publication states that bitcoin’s theoretical roots are in Austrian economics[11]. Bitcoin corresponds with Austrian economic ideas in that bitcoin was intended to provide a monetary alternative that is beyond the reach of governments to regulate. Bitcoin has correspondence with libertarian ideas, which have some relationship with Austrian ideas. In the USA, my experience is that bitcoin proponents appear to have obtained their theory from science-fiction, radical libertarian popular literature, anti- government/anti-tax activism, and often…

Paper and discussion history. A mention is not an endorsement.

The False Premises and Promises of Bitcoin — mentioned by throw0101a

Thu, 21 Jan 2021 22:03:13 GMT

When it comes to Bitcoin, I kind of see it as being similar to gold in the modern world. See Buffett's 2011 letter: > The major asset in this category is gold, currently a huge favorite of investors who fear almost all other assets, especially paper money (of whose value, as noted, they are right to be fearful). Gold, however, has two significant shortcomings, being neither of much use nor procreative. True, gold has some industrial and decorative utility, but the demand for these purposes is both limited and incapable of soaking up new production. Meanwhile, if you own one ounce of gold for…

Paper and discussion history. A mention is not an endorsement.

The False Premises and Promises of Bitcoin — HN submission

Wed, 11 Dec 2013 10:03:37 GMT

The False Premises and Promises of Bitcoin

1 point; 0 discussion replies on HN. Paper and source history. A submission is not an endorsement.