Here's another one I came across today. Traditional economists just don't get it, do they.
http://neweconomicperspectives.org/2013/12/fair-price-bitcoin-zero.html
Eric Tymoigne, Ph.D. is Assistant Professor of Economics at Lewis and Clark College and Research Associate at The Levy Economics Institute.
His research expertise is in: central banking, monetary economics, and macroeconomics.
Topic: Please Read!! Help Stop This Madness. - page 6. (Read 7666 times)
Your department makes some real arguments about bitcoin and in order to answer those arguments you ask for donations.
Sorry but it doesn't make any sense...
Sorry but it doesn't make any sense...
Regarding number 1, 2, and 3. SilkRoad proves your point as one counter example. People spent because they wanted something.
Not enough time to reply more right now, but they plainly are not aware of the additional uses for bit coin.
Not enough time to reply more right now, but they plainly are not aware of the additional uses for bit coin.
Frankly your Economics department is correct in each of it's criticisms, you may of course point to a few threads of real trade that other Zealots like yourself engage in as a kind of Cargo-cult activity trying to 'summon' an economy out of a deflationary currency.
But this dose not a real economy make, most people claiming to spend BTC immediately buy replacement BTCs when ever they spend them (making a net dollar purchase), or are just creaming off some of their wealth increase. Lastly you have Mining equipment purchases which are clearly just an attempt to get more BTC's and should be seen as a COST of running the system, not it's economy.
If you are not able to understand that BTC is a speculative mania and not a currency then frankly you deserve to be flunked in Economics.
But this dose not a real economy make, most people claiming to spend BTC immediately buy replacement BTCs when ever they spend them (making a net dollar purchase), or are just creaming off some of their wealth increase. Lastly you have Mining equipment purchases which are clearly just an attempt to get more BTC's and should be seen as a COST of running the system, not it's economy.
If you are not able to understand that BTC is a speculative mania and not a currency then frankly you deserve to be flunked in Economics.
I understand where you are coming from. I'm currently working on getting an image of the account onto the TVs that are on a loop displaying various news updates. I want the student body to become aware of the impact that bitcoin can bring to the world!
I have gone to entire economics department to talk about the economics of bitcoin and the outcome is always the same:
They see bitcoin as a fad with no credibility.
The department keeps arguing against bitcoin with these points.
1) Bitcoin is deflationary and it will cause it to fail. (facepalm)
2) Bitcoin is doomed to fail because people hoard it instead of spending it. No Economy exist.(facepalm x2)
3) Nobody uses Bitcoin for anything (Not Mainstream=Not real???) (Facepalm x 1,000,000)
My Goal: Raise Awareness about Bitcoin. Starting with the economics department and then expanding to the whole campus then the whole town.
I don't want those people to accept or understand Bitcoin until it's too late. They see bitcoin as a fad with no credibility.
The department keeps arguing against bitcoin with these points.
1) Bitcoin is deflationary and it will cause it to fail. (facepalm)
2) Bitcoin is doomed to fail because people hoard it instead of spending it. No Economy exist.(facepalm x2)
3) Nobody uses Bitcoin for anything (Not Mainstream=Not real???) (Facepalm x 1,000,000)
My Goal: Raise Awareness about Bitcoin. Starting with the economics department and then expanding to the whole campus then the whole town.
They are part of the propaganda arm of the system that traps kids into debt slavery to support their lifestyle; they deserve to miss the boat.
I'm going to make this as straight forward as possible.
About Me:
Noel Arteaga
Illinois State University
Managerial Economics/ Business Administration
Graduate Dec 14, 2013
I am currently finishing up my undergraduate degree in Managerial Economics.
I have a week and a half to go (WHOOP).
I have focused my studies this past year on Bitcoin.
My senior project is on Bitcoin.
The whole economics department knows me as a Bitcoin fanatic.
Here is the problem:
The entire economics department refuses to accept that bitcoin has any credibility.
The professor who is overseeing my senior project is constantly discrediting it via corrections on my work in progress.
I have gone to entire economics department to talk about the economics of bitcoin and the outcome is always the same:
They see bitcoin as a fad with no credibility.
The department keeps arguing against bitcoin with these points.
1) Bitcoin is deflationary and it will cause it to fail. (facepalm)
2) Bitcoin is doomed to fail because people hoard it instead of spending it. No Economy exist.(facepalm x2)
3) Nobody uses Bitcoin for anything (Not Mainstream=Not real???) (Facepalm x 1,000,000)
My Goal: Raise Awareness about Bitcoin. Starting with the economics department and then expanding to the whole campus then the whole town.
I will presenting my senior project next week with the hopes of raising awareness.
I have also been putting up flyers with websites that inform people about bitcoin. The feedback from the student body has been overwhelming! I get roughly 20 emails a week from people that see the flyers and wish to learn more! Currently working on a twitter feed and facebook page.
My biggest piece of evidence: I have established an online wallet and provided the address to whole economics department and information on how to check it.
I hope to raise awareness by getting people to send donations with messages supporting Bitcoin, messages that help dis-spell the BS people that "know economics" think about Bitcoin.
It not about the amount of donation its about the messages that can be attached to the transaction!
I want to shove it in their face (in a passive way) that not only is Bitcoin alive but growing and growing fast. I want to show the world the power of bitcoin!
Bitcoin/Message Address: 1Sk9iEy1UN1q5TkzmX71ayxy2kQEmkb84
Please Keep the messages clean, I want bitcoin to seem as credible as possible.
This is my attempt to prove who I am. If you have any questions please PM me!
http://s10.postimg.org/dvaxnjgid/Classes.jpg
http://s9.postimg.org/6sdjgbjyz/image.jpg
About Me:
Noel Arteaga
Illinois State University
Managerial Economics/ Business Administration
Graduate Dec 14, 2013
I am currently finishing up my undergraduate degree in Managerial Economics.
I have a week and a half to go (WHOOP).
I have focused my studies this past year on Bitcoin.
My senior project is on Bitcoin.
The whole economics department knows me as a Bitcoin fanatic.
Here is the problem:
The entire economics department refuses to accept that bitcoin has any credibility.
The professor who is overseeing my senior project is constantly discrediting it via corrections on my work in progress.
I have gone to entire economics department to talk about the economics of bitcoin and the outcome is always the same:
They see bitcoin as a fad with no credibility.
The department keeps arguing against bitcoin with these points.
1) Bitcoin is deflationary and it will cause it to fail. (facepalm)
2) Bitcoin is doomed to fail because people hoard it instead of spending it. No Economy exist.(facepalm x2)
3) Nobody uses Bitcoin for anything (Not Mainstream=Not real???) (Facepalm x 1,000,000)
My Goal: Raise Awareness about Bitcoin. Starting with the economics department and then expanding to the whole campus then the whole town.
I will presenting my senior project next week with the hopes of raising awareness.
I have also been putting up flyers with websites that inform people about bitcoin. The feedback from the student body has been overwhelming! I get roughly 20 emails a week from people that see the flyers and wish to learn more! Currently working on a twitter feed and facebook page.
My biggest piece of evidence: I have established an online wallet and provided the address to whole economics department and information on how to check it.
I hope to raise awareness by getting people to send donations with messages supporting Bitcoin, messages that help dis-spell the BS people that "know economics" think about Bitcoin.
It not about the amount of donation its about the messages that can be attached to the transaction!
I want to shove it in their face (in a passive way) that not only is Bitcoin alive but growing and growing fast. I want to show the world the power of bitcoin!
Bitcoin/Message Address: 1Sk9iEy1UN1q5TkzmX71ayxy2kQEmkb84
Please Keep the messages clean, I want bitcoin to seem as credible as possible.
This is my attempt to prove who I am. If you have any questions please PM me!
http://s10.postimg.org/dvaxnjgid/Classes.jpg
http://s9.postimg.org/6sdjgbjyz/image.jpg
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