General Discussion

DanTex

(20,709 posts)

10. "Evil" of course is provocative hyperbole.

Sun Dec 29, 2013, 11:15 AM

Dec 2013

What he means is that if bitcoin became the main currency used in global economic transactions that would be a bad thing. Why? First, since the quantity is limited, it would be deflationary, and lead to the same kinds of problems as with the gold standards. And since it is difficult to trace, it would facilitate illegal commerce in things like child pornography, human trafficking, etc. In fact, the main people who are currently actually using bitcoins as a currency (as opposed to a speculative investment) are criminals.

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Paul Krugman Blog- Bitcoin is Evil [View all] n2doc Dec 2013 OP

i`m buying tulip bulbs.... madrchsod Dec 2013 #1

No no...stockpile HEIRLOOM seeds...they will be priceless in the coming zombie apocalypse. Drew Richards Dec 2013 #3

The smart money is in ammo pscot Dec 2013 #4

Do arrows count? Prophet 451 Dec 2013 #9

If you can make them count, they count... JHB Dec 2013 #12

That is amazing. Enthusiast Dec 2013 #16

when ever we have a dem president the NRA scares the price of ammo up Herself Feb 2014 #18

i`m not sure if i can afford them now... madrchsod Dec 2013 #6

I heard the word was "plastics". nm rhett o rick Dec 2013 #7

With bitcoins, this image comes to mind... Xipe Totec Dec 2013 #2

That image was in the copy i had when I was about 10 pscot Dec 2013 #5

Interesting. Normally I'm all about Krugman, but I'm not getting it this time. Jester Messiah Dec 2013 #8

"Evil" of course is provocative hyperbole. DanTex Dec 2013 #10

Interesting. Thanks for the explanation. Jester Messiah Dec 2013 #11

This is true. DanTex Dec 2013 #15

I think he's playing on the goldbug claim that fiat money is evil JHB Dec 2013 #13

I listened to a podcast by warrior1 Dec 2013 #14

Bitcoin doesnt care what Krugman thinks... TampaAnimusVortex Jan 2014 #17