Why are economists so afraid of Bitcoin? - page 4.

htspringer

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Activity: 86

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Quote from: NChosting on January 07, 2014, 06:57:09 AM

Its like the economists have gone on a witch hunt against Bitcoin!

Whats their problem?

It's really quite simple.
Those who are afraid of bitcoin are spineless liberals who despise grassroots movements by the people.
They believe in government solutions. Bitcoin contradicts their ideology.

Lloydie

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Activity: 140

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Quote from: thaaanos on January 09, 2014, 06:36:56 AM

Quote from: Lloydie on January 09, 2014, 03:56:44 AM

Bitcoin is to the US, what the USD is to Zimbabweans.

A mean to a strip the country out of resources and have people starve?
Finally we agree.

With people like you, no wonder greece is going backwards. Maybe you should just stick to fiat currencies.

Lethn

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Quote from: thaaanos on January 09, 2014, 07:55:39 AM

Quote from: Lethn on January 09, 2014, 07:23:50 AM

Quote from: Kungfucheez on January 09, 2014, 01:48:41 AM

Quote from: 2bfree on January 08, 2014, 11:42:37 PM

Most economist worship the centralized model and bitcoin is not that. That's their problem.

No, that's your problem. Central Banks serve a very real and absolute purpose to the economies of all modern industrialized nations. They are essential, as time and history has clearly proven.

Give us some examples from history of it being necessary?

http://en.wikipedia.org/wiki/Great_Depression ? guess how US exited.

Which section exactly are you referring to? You're being nice and vague as usual, I suppose you mean "Turning point and recovery" right? This wiki article seems to me to be also skewed pretty much in favour or the kind of economic school that you're preaching but even this isn't being clear and specific about when and what actually caused the U.S to exit the depression and I'd argue that the U.S hasn't ever left the great depression because it's still on paper and borrowing more than it earns.

Disregarding the whole paper vs gold argument, the basic mathematics of borrowing more than you're earning means you're just losing money every year and no matter who you are you can't just ignore that, well there are people out there that do like you but that's why you'll never make money in life.

thaaanos

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Activity: 370

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Quote from: Lethn on January 09, 2014, 07:23:50 AM

Quote from: Kungfucheez on January 09, 2014, 01:48:41 AM

Quote from: 2bfree on January 08, 2014, 11:42:37 PM

Most economist worship the centralized model and bitcoin is not that. That's their problem.

No, that's your problem. Central Banks serve a very real and absolute purpose to the economies of all modern industrialized nations. They are essential, as time and history has clearly proven.

Give us some examples from history of it being necessary?

http://en.wikipedia.org/wiki/Great_Depression ? guess how US exited.

Lethn

legendary

Activity: 1540

Merit: 1000

Quote from: Kungfucheez on January 09, 2014, 01:48:41 AM

Quote from: 2bfree on January 08, 2014, 11:42:37 PM

Most economist worship the centralized model and bitcoin is not that. That's their problem.

No, that's your problem. Central Banks serve a very real and absolute purpose to the economies of all modern industrialized nations. They are essential, as time and history has clearly proven.

Give us some examples from history of it being necessary?

thaaanos

sr. member

Activity: 370

Merit: 250

Quote from: Lloydie on January 09, 2014, 03:56:44 AM

Bitcoin is to the US, what the USD is to Zimbabweans.

A mean to a strip the country out of resources and have people starve?
Finally we agree.

Lloydie

full member

Activity: 140

Merit: 100

Bitcoin is to the US, what the USD is to Zimbabweans.

Lloydie

full member

Activity: 140

Merit: 100

Quote from: thaaanos on January 09, 2014, 03:51:41 AM

The Groupthink runs strong in you!

No, you're the group think from mainstream central banking and sheep country.

thaaanos

sr. member

Activity: 370

Merit: 250

The Groupthink runs strong in you!

Lloydie

full member

Activity: 140

Merit: 100

Quote from: Kungfucheez on January 09, 2014, 01:48:41 AM

Quote from: 2bfree on January 08, 2014, 11:42:37 PM

Most economist worship the centralized model and bitcoin is not that. That's their problem.

No, that's your problem. Central Banks serve a very real and absolute purpose to the economies of all modern industrialized nations. They are essential, as time and history has clearly proven.

Yes, they are a problem. They create inflation which farks everything up. Bitcoin as a decentralised system will prove that central banks are surplus to requirements.

aminorex

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Activity: 1596

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Sine secretum non libertas

Every economist hopes in his heart to become the Bernanke.

The power of the Bernanke is the power of the helicopter.

Bitcoin threatens the power of the helicopter.

Hence all economists hate the bitcoin.

Kungfucheez

member

Activity: 98

Merit: 10

Quote from: 2bfree on January 08, 2014, 11:42:37 PM

Most economist worship the centralized model and bitcoin is not that. That's their problem.

No, that's your problem. Central Banks serve a very real and absolute purpose to the economies of all modern industrialized nations. They are essential, as time and history has clearly proven.

2bfree

sr. member

Activity: 686

Merit: 251

I'm investigating Crypto Projects

Most economist worship the centralized model and bitcoin is not that. That's their problem.

MoonShadow

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And don't forget the potential effects of Fourth Turning social theory.

Adrian-x

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Quote from: thaaanos on January 08, 2014, 10:14:18 AM

This generation is all about accusing the previous for the economic mess they created, true, true but in the lulaby of peace they have forgotten that the 2 previous generation main concern was: Peace
All decisions made in political and economic level had that principle in mind. So why do economists hate deflationary currencies? because it leads to conflict inside and between countries. Look at the Feudal age in europe, those economies were perfect from economic perspective, no inflation, full employment
But... Feud has a double meaning doesnt it?

Yes sure, but it is part of an evolutionary history,

Feudal age = deadlock, monopoly on the means of production Land. ( the feudal kings did not see the power shift to the leverages of capital until it was too late)

Merchant capitalisation broke that monopoly and ushered in a new age.

Bitcoin is bringing in a new age like FRB superseded Feudalism, Bitcoin will superseded FRB, the people who hold the power of capital today will ignore it and fall as did Feudalism.

MoonShadow

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Merit: 1010

Quote from: thaaanos on January 08, 2014, 07:46:11 PM

Quote from: MoonShadow on January 08, 2014, 06:42:05 PM

Quote from: thaaanos on January 08, 2014, 10:14:18 AM

Feudal Europe was such a peacefull time...

I know that you intended that post as ironic, but the true irony is that Feudal Europe actually was relatively peaceful, particularly when compared against the nature of warfare (in Europe and elsewhere) since the industrial revolution. Even the 100 years war was mostly a cold one; with long spans of calm delimited by short periods of actual conflict.

For that matter, the "Wild West" wasn't so wild either. Even the Lincoln County War is only considered a war in the context, because only a couple hundred people were involved and only a few dozen casualties resulted. This is the kind of 'warfare' that was most common during following the collapse of the Roman Empire and prior to the Renaissance, and is the most common form of "tribal" warfare across the buld of early human history.

Are we counting here conflicts or bodies?

Does it matter? Keep in mind, the 100 years war is generally consider one continuous conflict.

Quote

normalize to account for weaponry efficiency improvement. I am trully interested on the result.

This would require that we agree on a lot of details, and the outcome would be highly subjective to interpretations anyway. So I don't think this is going to happen.

thaaanos

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Activity: 370

Merit: 250

Quote from: MoonShadow on January 08, 2014, 06:42:05 PM

Quote from: thaaanos on January 08, 2014, 10:14:18 AM

Feudal Europe was such a peacefull time...

I know that you intended that post as ironic, but the true irony is that Feudal Europe actually was relatively peaceful, particularly when compared against the nature of warfare (in Europe and elsewhere) since the industrial revolution. Even the 100 years war was mostly a cold one; with long spans of calm delimited by short periods of actual conflict.

For that matter, the "Wild West" wasn't so wild either. Even the Lincoln County War is only considered a war in the context, because only a couple hundred people were involved and only a few dozen casualties resulted. This is the kind of 'warfare' that was most common during following the collapse of the Roman Empire and prior to the Renaissance, and is the most common form of "tribal" warfare across the buld of early human history.

Are we counting here conflicts or bodies? normalize to account for weaponry efficiency improvement. I am trully interested on the result.

kkaspar

full member

Activity: 140

Merit: 100

banned but not broken

I don't think that economists are afraid, they just can understand the nature of an unregulated market system that deals with goods that are very attractive to speculation. This is heaven for all kinds of crooks who can use all kinds of dirty tricks to gain wealth at the expense of others. With regulated market systems, you are in danger of going to jail for using dirty tricks, that you can use with the crypto market without any consequences whatsoever.
I like the vision of privatized monetary systems, but I think that it is just naive to hope that everything will be fine without any regulations.
Right now we're in a situation where markets can actually present false market data about ongoing trades to stimulate demand. This means that when bitcoin demand drops, and with it drops the profit of major exchanges, then they can just form a pact to show false market data that people are still buying bitcoin. This will raise demand, because people will buy when it seems that others are buying also. This can't even be considered an "grey area" trick, but as an full blow scam. I think that it is naive to think that everyone will just stay nice and honest because of personal moral codes, especially when money is involved.

MoonShadow

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Activity: 1708

Merit: 1010

Quote from: thaaanos on January 08, 2014, 05:10:28 PM

Quote from: Misesian on January 08, 2014, 12:49:10 PM

Quote from: thaaanos on January 08, 2014, 10:14:18 AM

This generation is all about accusing the previous for the economic mess they created, true, true but in the lulaby of peace they have forgotten that the 2 previous generation main concern was: Peace
All decisions made in political and economic level had that principle in mind. So why do economists hate deflationary currencies? because it leads to conflict inside and between countries. Look at the Feudal age in europe, those economies were perfect from economic perspective, no inflation, full employment
But... Feud has a double meaning doesnt it?

Deflationary currencies make it harder for governments to start wars.

Feudal Europe was such a peacefull time...

I know that you intended that post as ironic, but the true irony is that Feudal Europe actually was relatively peaceful, particularly when compared against the nature of warfare (in Europe and elsewhere) since the industrial revolution. Even the 100 years war was mostly a cold one; with long spans of calm delimited by short periods of actual conflict.

For that matter, the "Wild West" wasn't so wild either. Even the Lincoln County War is only considered a war in the context, because only a couple hundred people were involved and only a few dozen casualties resulted. This is the kind of 'warfare' that was most common during following the collapse of the Roman Empire and prior to the Renaissance, and is the most common form of "tribal" warfare across the buld of early human history.

MoonShadow

legendary

Activity: 1708

Merit: 1010

Quote from: thaaanos on January 08, 2014, 05:14:37 PM

Why I am a teacher at a Greek Elementary school, does that count as goverment contractor?

I think that it's sad that an elementary school teacher neglects to use proper punctuation online.

And yes, a public school district employee does qualify as a government contractor in my view. The point being, it's hard to convince anyone of the truth when his/her paycheck depends upon him/her not understanding. Any attempt to convince you of anything that doesn't fit the official story is futile, but nor should you have any credibility regarding any subject, and especially one that you "teach" to small children. (with the possible exception of mathmatics)

Topic: Why are economists so afraid of Bitcoin? - page 4. (Read 5285 times)