Re:Bitcoin is dead. Long live bitcoin.
by baddox on Wednesday April 24, 2013 @06:48PM
(#5604488)
> One of the properties of a good currency is that over time it’s value must slowly creep downward.
Isn't a big part of the thesis behind bitcoin that this mainstream economic belief is false? After all, mainstream economic theory since at least the Great Depression would also say that central authorities (generally governments) should be very hands-on with their control of the money supply, which is another belief that bitcoin is clearly designed to challenge. I know very little about economics both mainstream and heterodox, but I think it's unfair to make this claim without at least mentioning that the designers of bitcoin are almost certainly aware of the belief and are deliberately challenging it.
Isn't a big part of the thesis behind bitcoin that this mainstream economic belief is false? After all, mainstream economic theory since at least the Great Depression would also say that central authorities (generally governments) should be very hands-on with their control of the money supply, which is another belief that bitcoin is clearly designed to challenge. I know very little about economics both mainstream and heterodox, but I think it's unfair to make this claim without at least mentioning that the designers of bitcoin are almost certainly aware of the belief and are deliberately challenging it.