Re:With euro zone melting down, bitcoin replacing hard curre...
by ChuckMcM on Tuesday June 12, 2012 @06:32PM
(#4103292)
One of those times when changing the title would be good :-)
I find that people who believe that 'Bitcoin' could replace an actual currency don't actually understand what 'currency' actually is. As a criminal 'marker' system I think Bitcoin excels in all of its goals, but without understanding that a nation's currency is a marker for its economic capacity, you can't make durable statements.
And the Euro isn't "melting down" by the way, it is the fact that the economies that are tied to the Euro have some unsustainable fiscal policies. And correcting those policies is politically hard, so between now and when the corrections are in place, the Euro tries to price the actual economic capacity.
I find that people who believe that 'Bitcoin' could replace an actual currency don't actually understand what 'currency' actually is. As a criminal 'marker' system I think Bitcoin excels in all of its goals, but without understanding that a nation's currency is a marker for its economic capacity, you can't make durable statements.
And the Euro isn't "melting down" by the way, it is the fact that the economies that are tied to the Euro have some unsustainable fiscal policies. And correcting those policies is politically hard, so between now and when the corrections are in place, the Euro tries to price the actual economic capacity.