News for hackers. Stuff that matters.

A comment on Bitcoin Miners Flock to New York’s Remote Corners, but Get Chilly Reception. Parent comment

Re:Bitcoin Miners Flock to New York’s Remote Corners, but Ge... by tjpaudio on Thursday September 20, 2018 @12:26AM (#18029789)
Utility is an non-measurable unit with no connection to anything real that economics textbooks use to help people conceptualize basic theory. Capital creation versus rent seeking are concepts grounded in reality with real consequences. Creating money does not necessitate capital creation or increased well being. I suggest reading about the broken window fallacy to understand why you are wrong.
[ Parent | on HN ]
Re:Bitcoin Miners Flock to New York’s Remote Corners, but Ge... by darawk on Thursday September 20, 2018 @01:13AM (#18029934)
I'm definitely not wrong. The description I gave is completely accurate. It, however, may not be complete. The broken window parable does not actually in any way negate what I said - the purchase of the window still makes both parties better off.
[ Parent | on HN ]