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Topic: Bitcoin press hits, notable sources - page 36. (Read 430935 times)

legendary
Activity: 1092
Merit: 1001
September 12, 2011, 06:41:01 AM
Another idiot talks about Bitcoin as if it's history.
Opinions that something won't succeed are one thing - but Gurav Ghos is just making stuff up.
(Perhaps yet another journalist who copies from The Atlantic )

Quote
Trust and Bitcoin

Gaurav S Ghos
2011-09-12

http://blogs.economictimes.indiatimes.com/choicerules/entry/trust-and-bitcoin

"Bitcoin failed in its attempt to become a widespread medium of exchange because it was missing and always would miss a critical element that underpins any currency.  That element was trust."
legendary
Activity: 1092
Merit: 1001
September 11, 2011, 10:40:15 AM
Quote
Krugman's Bitcoin Error

2011-09-10

http://presentcynosure.wordpress.com/2011/09/10/krugmans-bitcoin-error/

"Paul Krugman, the nobel prize winning economist, is not really interested in Bitcoin. The only reason he recently wrote about the new cryptocurrency in his New York Times blog is because some people have urged him to. "

legendary
Activity: 1092
Merit: 1001
September 08, 2011, 11:19:24 PM
Some more meta-pieces regarding the Krugman article:

Quote
Krugman takes on Bitcoin

Joshua Keating
2011-09-08

http://blog.foreignpolicy.com/posts/2011/09/07/krugman_takes_on_bitcoin


Quote
Paul Krugman’s BitCoin Assessment Side-Steps the Hallucinatory Qualities of All Currencies

DJ Pangburn
2011-09-08

http://www.deathandtaxesmag.com/139737/paul-krugmans-bitcoin-assessment-side-steps-the-hallucinatory-qualities-of-all-currencies/
legendary
Activity: 1092
Merit: 1001
September 08, 2011, 10:20:38 PM
Another reaction to the Kruger article

Quote
How Bitcoin Shows We Don't Want a Gold Standard

Sam Seder (From the Majority Report majority.fm)
20011-09-07

http://www.youtube.com/watch?v=dwJ1lh8-FBY

legendary
Activity: 1092
Merit: 1001
September 08, 2011, 09:07:38 PM
The Krugman story hits slashdot

Quote
legendary
Activity: 1092
Merit: 1001
September 08, 2011, 11:04:57 AM
legendary
Activity: 1092
Merit: 1001
September 08, 2011, 11:02:08 AM
From the Atlantic on 8-8-2011, 7:30am
...

Seriously?  That article is a month old and has already been reported here.
It's ridiculous inflammatory title has also spent more of it's fair share in the google limelight and provided a source of junk material for lazy journalists to write copycat articles.
legendary
Activity: 1221
Merit: 1025
e-ducat.fr
September 08, 2011, 05:15:22 AM
A very commandable article on blogdial in response to the moronic paper published by the Baker Institute:

http://blogdial.wordpress.com/2011/09/02/precursors-to-bitcoin-legislation-emerge/
sr. member
Activity: 294
Merit: 250
September 07, 2011, 05:53:12 PM
The Atlantic Wire comments on Krugman's article and quotes users from this forum!

http://www.theatlanticwire.com/business/2011/09/paul-krugman-incites-bitcoin-cyber-geek-infighting/42188/
jr. member
Activity: 39
Merit: 1
September 07, 2011, 02:40:05 PM
Libertarian News responds to Krugman's latest anti-bitcoin screed.

http://www.libertariannews.org/2011/09/07/questions-for-krugman-on-his-latest-bitcoin-screed/
legendary
Activity: 1092
Merit: 1001
September 07, 2011, 10:57:37 AM
Quote
First German marketplace for Bitcoins - bitcoin.de provides security for trading partners

2011-09-07

http://www.fair-news.de/news/Erster+deutscher+Marktplatz+fuer+Bitcoins+bitcoinde+bietet+Sicherheit+fuer+Handelspartner-429983.html


http://translate.google.com/translate?sl=de&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.fair-news.de%2Fnews%2FErster%2Bdeutscher%2BMarktplatz%2Bfuer%2BBitcoins%2Bbitcoinde%2Bbietet%2BSicherheit%2Bfuer%2BHandelspartner-429983.html&act=url


"Buy and Sell Bitcoins was previously possible only through market places and exchanges abroad. As the first German marketplace allows users bitcoin.de especially German exchange and trade of Bitcoins."

www.bitcoin.de
legendary
Activity: 1092
Merit: 1001
September 07, 2011, 09:49:59 AM
From a US marketing firm for credit unions.

This is yet another commentator who seems to draw conclusions of where bitcoins are headed based on the recent price decline.


Quote
The end of money?

2011-09-07
Kent Dicken

http://www.sharedidiz.com/?p=8551

"As the Bitcoin enthusiasts lose their enthusiasm, it looks like Bitcoins will simply fade away."




iDiz:
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For those of you new to iDiz, we're a strategic marketing agency located in Indianapolis. We handle advertising, promotional campaigns, web sites, branding, print, and more for credit unions all across the country that are ready to grow
hero member
Activity: 784
Merit: 1009
firstbits:1MinerQ
September 07, 2011, 08:57:50 AM
Quote
While reading his article I just wondered where he comes up with his claims. Bitcoin prices are lower than in a longer time and this doesn't indicate to me that people are hoarding it.

If you look at figures on BitcoinWatch it looks like in the last 24 hours about a quarter of all Bitcoins have changed hands in transactions and this is typical many days. So isn't that explicitly what he says a good currency should be for: trade, transactions.

In comparison only about 3% of that volume is in US$ exchange which to me says that the everyday in and out of US$ is but a small part of the overall trade volume. I don't know what that trade is but people seem to be transacting - so I just don't know where he pulls his ideas out of.

I can guess though. I don't know much about Krugman but it seems like he has an axe to grind against Gold and so he just uses Bitcoin as an opportunity to take a swing, pulling out of his *ss whatever fits his gripes against Gold.

I'm pretty sure the percent of US$ supply that is being "hoarded" (ie. not traded today) vs. percent of Bitcoins, is probably higher - though I'm just pulling that idea out of my *ss too.
legendary
Activity: 1092
Merit: 1001
September 07, 2011, 08:30:37 AM
Someone at businessinsider decides to put words in Krugman's mouth with a misleading title on their shoddy little meta-article.

Quote
Paul Krugman Explains Why Bitcoin Is A Stupid Currency

Joe Weisenthal
2011-09-07

http://www.businessinsider.com/paul-krugman-on-bitcoin-2011-9
sr. member
Activity: 322
Merit: 251
FirstBits: 168Bc
September 07, 2011, 07:51:39 AM
I like that the new thing he discovers about bitcoin isn't that it's decentralized, but that it's not pegged to the dollar.  I mean, there's never been anything not pegged to the dollar, but decentralized payment systems...pft, those are everywhere.

Decentralized doesn't mean anything to half the geeks and nothing to rest of the population.

It's a great piece. In fact, I think it's quite accurate.

Quote
...Bitcoin, an attempt to create a sort of private cybercurrency...Bitcoin, rather than fixing the value of the virtual currency in terms of those green pieces of paper, fixes the total quantity of cybercurrency instead, and lets its dollar value float. In effect, Bitcoin has created its own private gold standard world, in which the money supply is fixed rather than subject to increase via the printing press...The dollar value of that cybercurrency has fluctuated sharply, but overall it has soared. So buying into Bitcoin has, at least so far, been a good investment...What we want from a monetary system isn’t to make people holding money rich; we want it to facilitate transactions and make the economy as a whole rich. And that’s not at all what is happening in Bitcoin...the Bitcoin economy has in effect experienced massive deflation...incentive to hoard the virtual currency rather than spending it...it reinforces the case against anything like a new gold standard – because it shows just how vulnerable such a standard would be to money-hoarding, deflation, and depression.
legendary
Activity: 2198
Merit: 1311
September 07, 2011, 06:59:23 AM
Quote

Rough summary for the tldr-people:

  • First I though what's new? There are already virtual payment system
  • Then I realized: it's not pegged to dollar but has fixed money supply (it's money not payment system)
  • Evaluation: did this experiment work? (assuming it's over already, lol)
  • It's good investment for some but not helping economy as a whole.
  • Conclusion: we don't need anything like a new gold standard, that would cause money-hoarding, deflation, and depression

Argh, so he's using our infancy-currency to argue against a gold standard. A bit premature, I would say.

EDIT: I registered and posted a comment, which is waiting for manual check for off-topic or abusive content.

I like that the new thing he discovers about bitcoin isn't that it's decentralized, but that it's not pegged to the dollar.  I mean, there's never been anything not pegged to the dollar, but decentralized payment systems...pft, those are everywhere.
donator
Activity: 2772
Merit: 1019
September 07, 2011, 03:02:46 AM
Quote

Rough summary for the tldr-people:

  • First I though what's new? There are already virtual payment system
  • Then I realized: it's not pegged to dollar but has fixed money supply (it's money not payment system)
  • Evaluation: did this experiment work? (assuming it's over already, lol)
  • It's good investment for some but not helping economy as a whole.
  • Conclusion: we don't need anything like a new gold standard, that would cause money-hoarding, deflation, and depression

Argh, so he's using our infancy-currency to argue against a gold standard. A bit premature, I would say.

EDIT: I registered and posted a comment, which is waiting for manual check for off-topic or abusive content.
sr. member
Activity: 323
Merit: 250
September 07, 2011, 02:01:38 AM

I'd say this counts as one the most highly visible opinion pieces on Bitcoin we've seen. I was pretty sure he wasn't going to like it but, he took Bitcoin pretty seriously and didn't deride it as much as I thought he would. Overall, I bet a lot of new people will learn or be reminded of its existence because of this.
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