Even Milton Friedman, champion of free market capitalism recognized that widely used currencies were special because they are the yard sticks everything else is measured against. That's why for example, he proposed as a free market alternative to government currencies, a currency based on a k-percent rule (https://en.wikipedia.org/wiki/Friedman%27s_k-percent_rule) which would avoid the problems with deflationary currencies.

Someone should make a crypto Friedman coin based on this. Of course this would remove the ponzi, get-rich-quick aspect, so most wouldn't care for it.

Polkadot is a crypto currency that does some interesting things with it's economics and governance. It's staking and treasury funding is similiar to the K-Percent Rule.

Just commenting to let you know that at least one other person on hacker news knows marginal revolution style economics/moral philosophy/classical liberalism and finds it more compelling than the alternatives seen to date. No offense meant to those who see it otherwise.

There are... dozens of us!

I always find it weird when a group purports to know what the price of cacao should be halfway across the world when they’ve never stepped on to a finca in Ecuador.

Cheers, and spot on.

I think a good deal of the hate Bitcoin gets is due to people not having much to go on when trying to think about currency generally. Without anything to stand on but the status quo, feelings seem to take over, and they are generally negative, motivating quickly thought up objections, in the mean, anyway.