? this doesn't make any sense whatsoever. i think you don't even have the slightest clue what keynesianism is. or can you back up your statements with any arguments?

i mostly agree, the only thing i have a problem with is you claiming that we could help the 3rd world by "shielding them from inflationary currencies". fact is, deflationary currencies are good for the HAVEs, not for the HAVE-NOTs. someone who doesn't have anything to save up because he has to put everything into food and shelter is obviously better off with an inflationary currency, where he earns more every day and can afford the same stuff. with a deflationary currency, only someone who is able to save it up for a while can profit from it. everyone else loses, especially those who don't have any money. it's really very simple, and very obvious. what i don't understand is how you can confuse this and think its the other way around? actually many people here do...but why? who spreads this FUD?

to make this more clear: why is inflation good for someone who doesnt have anything to save? because he will spend it the same day he earned it, so inflation doesn't affect him. it only affects people who have so much that they just leave alot of money lying around, not doing anything with it. for them, the value decreases, so inflation is bad for people with lots of money. conversely, a deflationary currency helps the people with big stashes of money, because they just have to let it lie around and it gets worth more and more. they don't have to work or do anything, other people will work for them. just inherit some deflationary currency, and all is well. for the poor guy, who cant save up and who didn't inherit anything, its very bad, because services will be more expensive for him, since he has to spend it right away and cant wait before the money gets worth more.

Wrong. A non sequitur is an argument that derives wrong conclusions from a premise. i never made any assumption of him evading taxes or not, try to read carefully. you just assumed i made such assumptions, and now you are argueing from this position. In reality, i claimed that evading money transfer fees is the same as evading taxes. try to understand the difference.

If you really are into logic and rhetorical fallacies, i recommend to go through this list of cognitive biases: https://en.wikipedia.org/wiki/List_of_cognitive_biases you might learn something there.

this doesn't even remotely make any sense to me. cryptocurrencies are the logical next step for private investment banks to increase their profits and keep control over the monetary supply. nothing changes, besides the gap between rich and poor widenening even faster. but you hardly notice the difference anyway, because due to the policies enacted, the gap would als widen without cryptocurrencies that offer the speculators and rich people new ways to increase their income.

what has out society to do with collectivism? what is your concept of "anarchy" and how is bitcoin involved in that?

tax evading isn't necesarily illegal, you are right. but that doesn't make it any less unethical.

why do you think banks charge so much for money transfers? there might be a reason....a service maybe? i'll give u a little hint: it starts with s and ends with ecurity

cute how you call Paul Krugman a "puppet"

yes, he endorses keynes. thank god he does. many economists (especially in the US) are just rehashing Friedman's and Hayeks neoliberal thoughts, despite the fact that neoliberalism horribly failed and threw the world into a great depression just a few years ago. but people are so ignorant, they still think neoliberalism is the holy grail. well in fact i don't think they are ignorant, but greedy. they just want more and more and don't want to share a bit and don't care for anyone else. and they probably inherited alot of money for their parents. under these circumstances, it makes kind of sense to endorse neoliberalism instead of keynesianism.

there is no "instant transaction" with bitcoins, it takes at least 10 minutes to confirm. while in fact if you buy something with your credit card, you are paying in an actual INSTANT and INSTANTLY get your product. nice try in turning the world upside down

i disagree. since the 1970ies the world economy is changing drastically. financial institutions are growing at an immense pace, drawing funds from the real economy and producing crises that the general population has to pay off by lowering social security and the likes. the world bank and the international monetary fund are enforcing those austerity policies all over the world, even in europe already. cryptocurrencies have made this already worse, and will make it even worse in the future. big players like goldman sachs are already deep into the cryptocurrency world, since they know exactly what it means. it means even less regulation and bigger profits for them. a deflationary currency...their dream. our system is not going in the right direction, and many people start to realize this. we need a new "New Deal" and strict regulations of the financial sector, the dismantlement of all big banks and a stop of speculation on food and housing and the like. fixed exchange rate for all currencies (like in china) so people can do their business. if you really don't see any problems with our economy and think scandinavian countries are the lands of milk and honey, you are up for a rude awakening. of course, compared to the rest of the world, they aren't doing that bad right now, but that doesn't mean their economic system is the best possible system that we could imagine.

I also disagree that communism only works for perfect beeings, but capitalism works for everyone. in fact we know that capitalism doesn't work for most people (or there wouldn't be 1 billion starving people on this planet, or 30.000 children starving to death every day, there are even children dieing from starvation in europe)., only a few get very rich will the majority has to work for the few rich people. this is a very unfair system in my opinion. but people who think there are only 2 possibilities: Capitalism and Communism, are probably not able to engage in a more sophisticated discussion on this topic anyway. too often i see people claiming im a communist, only because i offer criticism of the capitalist system we live in. try not to be that dense. try to differentiate, try to see the world in colors or greyshades, instead of black and white.

tax evaders also smile when they park their funds on the caymans. exactly the same thing. the only real difference is, they have at least a little bit of shame and aren't boasting about it usually. you kind of disgust me.

"Bitcoin is open to everyone"

Nope, its not. Well maybe for a few entitled kids who got everything from their parents it is. But for the majority of the world's population it isn't. The majority of the world population doesn't have a computer, even less people have internet, and most people don't have any money to buy bitcoins with, because they use all their money for food and still they starve.

I always get a little angry, if I see entitled kids from rich parents claiming everything is for free. The world doesn't work like that. Try to look beyond the little box you live in, pal.

those statements prove that paul krugman and bill gates are actually very stupid and don't know what they are talking and they know nothing about economy.

yeah right. i feel with you for beeing jealous of bill gates and paul krugman, for understanding economy a trillion times better than you, and them beeing more than a thousand times richer than you. if i was so jealous like you, i would also try to find some ancient statements that don't look very accurate in hindsight, just to make me feel a little better


In all seriousness, Paul Krugman knows more about economy than you ever will, that's why he is regularily featured in the top business media worldwide, and you are not.

True, cryptocurrencies are just a technology, they arent inherently good or bad or anything. I am talking about the libertarian philosophy at its core...its troubling me. I don't agree that if i don't like it i simply don't use it. same with fiat money, once its mainstream, you are more or less forced to use it.

Anarchism and Capitalism are in a sense mutually exclusive, since the ideal of anarchism is the abolishment of unjustifiable hierarchies, and capitalism is a system of property rights in which the means of production is in the hands of private owners with the goal of profit. Capitalism creates unjustifiable hierarchies: for example someone with more money has more power to influence politics while someone with no money can't even get something to eat without breaking the law. One of the most prominent anarchist thinkers, Pierre Joseph Proudhon once famously stated: "Property is theft."

The conspiracy theory "Inflation helps transfer wealth from the working/middle class to the rich banksters" mainly stems from the antisemitic propaganda of the third reich. Noone who knows anything about the world-economy and the financial system still believes those myths. Fact is, inflation is a tool used since decades to keep people from hoarding their currencies. It's pretty well understood, just not in cryptocurrency circles, where people (in my opinion) don't look much further than their own wallet, and just want to have more money, and don't spend a second on thoughts about systemic effects and the likes. Of course, for personal enrichment cryptocurrencies are a blessing, but in my opinion, they aren't for the society as a whole. In fact I strongly believe fiat-currencies provide a much better system for the welfare of everyone. Sadly not everyone cares about others, so this argument is not very popular.

thanks for making my case. all i hear as counterarguments is insults, apparently some people cannot cope with different opinions. have a nice day!

dude i was discussing with kids who claim "bitcoin is not a ponzi" 3 years ago. its fine, i have no problem with you newbies thinking its not a ponzi scheme. to me thats just incompetent nitpicking. early adopters and the coin-starters profiting from people joining in later when its hyped pretty much defines ponzi for me. only because someone is claiming "bitcoin is not a ponzi" doesn't make it so. there are also people on the internet claiming penguins are building catapults with the sinews and bones of humans on the dark side of the moon. im not gonna think its the truth only because someone said so. i actually have a brain.

omg this is hilarious thanks

for me, its a ponzi scheme that makes me rich. its not very ethical, but i can't always think about others. i also want to be greedy now and then.

Well said. People who don't like their big piles of money to inflate, love Bitcoins. They love hoarding. It's a new monetary system designed to increase the gap between the rich and poor even more.

The guy in this article is so delusional...its almost hilarious:

"The truth is, I really want to believe in it. And I like the fact that Bitcoin scares people in suits, because if this thing were to really take off, it would bankrupt a lot of bankers."

Sure, bankers aren't getting rich at all with Bitcoins, they are scared by it and get bankrupt by it...omg how naive...

imagine you have to wait 30 seconds or a minute after you paid your coffee with dollars, to receive your coffee. the coffeeshop would be out of business within a day.

You always see the same people promoting Bitcoin and other cryptocurrencies, its folks like Ron Paul, the Mises Institute, Stefan Molyneux, Max Keiser and others, all going after Friedman and von Hayek. I guess Friedman is turning in his grave, having missed the invention of cryptocurrencies. All those people first told people to buy gold, now they tell people to buy Bitcoins. My question is: since all those people are endorsing a right-wing neoliberal agenda (some might call it "Anarchocapitalism", which really is an oxymoron) and think that socialism equals stalinism and gulag, i wonder if there are any people of the left wing or communist/socialist/anarchist political spectrum who see any value for society in cryptocurrencies?

Me personally, I started mining cryptos with Doge in december, purely out of greed. I just wanted to make a quick buck. I really don't think I am helping anyone with this, beside maybe some rich people. But really I am against this new method of personal enrichment without providing any service to society (its a little hypocritical, i know, but who really cares). People claim that adding to the security of cryptocurrencies by mining them is actually a service, but its really just a service for the wealthy people, who have lots of money that they want to hoard, effectively removing the money from the real economy (which means the industry, services and stuff, not the financial sector). With an inflationary currency, the rich guys were at least incentiviced to keep it in circulation, but with a deflationary currency, there is an opposite incentive to hold your currency.

Right now the majority of cryptocurrencies is owned by very rich people. Of course they won't admit to any of this, because they would just hurt themselves (unless they actually care for the society they live in).

I actually think the notion of property rights wont hold up much longer. maybe a few decades, but i guess thats it. with the downfall of property rights, all currencies will vanish too. but of course i can be wrong. i don't know what everyone else thinks...maybe people will cling on to property rights for much longer still, maybe even centuries. i just don't think humanity will survive another century of selfish capitalism and property rights.