News for hackers. Stuff that matters.

A comment on Central bank cryptocurrencies. Parent comment

Re:Central bank cryptocurrencies by DennisP on Tuesday September 19, 2017 @07:32AM (#15283632)
Exactly, cryptocurrency isn't digital gold, it's the system of privately-issued competing currencies advocated by Hayek.
[ Parent | on HN ]
Re:Central bank cryptocurrencies by paulgb on Tuesday September 19, 2017 @09:33AM (#15284412)
Hayek's currencies were backed by the issuer. They're more analogous to frequent flyer miles than cryptocurrencies.
[ Parent | on HN ]
Re:Central bank cryptocurrencies by DennisP on Tuesday September 19, 2017 @12:31PM (#15286114)
They could be backed in some way, but Hayek only relies on competition between issuers. In his book he writes extensively about unbacked paper money.
[ Parent | on HN ]