Krugman's Baby-Sitting Co-op Explains The Design Flaw At The Heart Of Bitcoin

Re:Krugman's Baby-Sitting Co-op Explains The Design Flaw At ... by white_devil on Friday April 05, 2013 @04:03PM (#5500710)

> provide a counterpoint to the deflationary spiral criticism?

Is that the retarded idea that no one will buy anything if prices keep falling? Look no further than computers, cell phones and all manner of electronic gadgets. Their prices keep going down, but everyone keeps buying them.

If you need/want something now, you'll buy it now.

Here's a summary of the article: "The State-Controlled Mainstream Media paints a gloomy picture of a currency that can't be controlled by the State."

EDIT: Perhaps a downvoter might want to point out a flaw in what I said?

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Re:Krugman's Baby-Sitting Co-op Explains The Design Flaw At ... by Jtsummers on Friday April 05, 2013 @04:20PM (#5500817)

Not a downvoter (can't, probably won't when I can), but your tone is unnecessarily aggressive and dismissive, especially considering GP just wanted a rebuttal and made no claims of their own.

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Re:Krugman's Baby-Sitting Co-op Explains The Design Flaw At ... by white_devil on Saturday April 06, 2013 @03:06AM (#5502905)

> your tone is unnecessarily aggressive and dismissive

I take it you're referring to the word "retarded"? It was meant to criticize the idea of a "deflationary spiral", not the poster.

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Re:Krugman's Baby-Sitting Co-op Explains The Design Flaw At ... by ars on Friday April 05, 2013 @04:14PM (#5500782)

Why do you think they constantly make more gadgets - always at the same price point? And they work really hard to make sure you want the new one.

In some future world where no one wants the new gadget the price of the old one will stop falling!

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Re:Krugman's Baby-Sitting Co-op Explains The Design Flaw At ... by white_devil on Saturday April 06, 2013 @03:03AM (#5502897)

True, some gadgets stay at certain price points, but you keep getting more and more value for your money. We could rephrase "electronics getting cheaper" as "your purchasing power towards electronics increasing", if that's better.

> In some future world where no one wants the new gadget the price of the old one will stop falling!

What's the point here? It's not like the old gadget would get sold at the same price for ever and ever.

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Re:Krugman's Baby-Sitting Co-op Explains The Design Flaw At ... by james1071 on Friday April 05, 2013 @05:38PM (#5501209)

Yes, people will obviously buy the things they need immediately but will defer purchases where they can. Houses would be an obvious example. Everyone would try to spend less, reducing total output.

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