It Looks Like Nobel Economics Laureates Don't Like Bitcoin

Re:It Looks Like Nobel Economics Laureates Don't Like Bitcoin by bluetwo on Thursday November 30, 2017 @10:55AM (#15816689)

That's an interesting point. Unlike dollars, made money doesn't sit in a bank, to be loaned to lenders creating a profit for the bank, part of which gets paid as interest. This drives economic expansion.

I don't even know how you would do something like that with bitcoin.

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Re:It Looks Like Nobel Economics Laureates Don't Like Bitcoin by fhood on Thursday November 30, 2017 @10:57AM (#15816711)

It could though, if places like Coinbase decided to transition into a banking role. The issue with Bitcoin in my mind is that people now view it as more of an investment than a currency.

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Re:It Looks Like Nobel Economics Laureates Don't Like Bitcoin by bluetwo on Thursday November 30, 2017 @11:04AM (#15816781)

But a loan is an enforceable contact. You would have to marry the loan somehow with something that would give it teeth. This is an interesting problem.

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Re:It Looks Like Nobel Economics Laureates Don't Like Bitcoin by maxerickson on Thursday November 30, 2017 @11:16AM (#15816897)

Same as with a bank. Transfer some bitcoin to someone and then pursue them when they don't transfer enough back.

Charge interest to cover the risk.

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Re:It Looks Like Nobel Economics Laureates Don't Like Bitcoin by bluetwo on Thursday November 30, 2017 @02:46PM (#15818879)

Banks work in a legal and regulatory environment which bitcoin lacks. That's the problem, there are a lot of details that would have to be worked out to make that happen.

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Re:It Looks Like Nobel Economics Laureates Don't Like Bitcoin by maxerickson on Thursday November 30, 2017 @04:03PM (#15819520)

Bitcoin operates in exactly the same legal environment as banks.

I agree that the regulatory environment is different.

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