2013-06-04 Don't Be Silly, The Entitlement State Won't Allow Bitcoin

[Arvicco]

http://www.forbes.com/sites/harrybinswanger/2013/06/04/dont-be-silly-the-entitlement-state-wont-allow-bitcoin/

Brings up some valid concerns, but ends up in just another circular goldbug argument. If free market is allowed to choose money, it must be gold because it's always been like this. Well, that's wrong because there were money BEFORE gold: cattle, cowrie shells to name just a few. So, at some point gold displaced those earlier money and came to dominate because it was a better fit for monetary function.

Since Bitcoin is better than gold in pretty much any aspect, there is no reason why Bitcoin could not outcompete gold and become a dominant form of money in a free market competition.

[justusranvier]

Brings up some valid concerns, but ends up in just another circular goldbug argument. If free market is allowed to choose money, it must be gold because it's always been like this. Well, that's wrong because there were money BEFORE gold: cattle, cowrie shells to name just a few. So, at some point gold displaced those earlier money and came to dominate because it was a better fit for monetary function.

Another away to approach is to apply their logic to other areas of economic choice.

"If the free market is allowed to choose forms of transportation, it must be horses because it's always been like this."

[cypherdoc]

it was more than just a gold bug piece.

it was an endorsement of the inflationary entitlement state.

i also don't think he understands p2p.

[conspirosphere.tk]

now that metal detectors are so common, gold bugs are in for some bad surprise

[cypherdoc]

now that metal detectors are so common, gold bugs are in for some bad surprise

wait a minute, you are a gold bug.

[marcus_of_augustus]

Click on the link again and look at the author's byline.

Harry Binswanger, Contributor
I defend laissez-faire capitalism, using Ayn Rand's Objectivism.

Not exactly an unbiased source, and what a grand job he has done defending laissez-faire capitalism from the War on Drugs, mandatory minimum sentences for victimless 'crimes', the DMCA, the latest NDAA, the USA PATRIOT Act, Presidential Kill Lists, Sarbanes-Oxley, the taxation of US citizens who reside abroad, etc., using Ayn Rand's Objectivism.

We seriously need better allies than this.

... yeah, pretty liberal interpretation of laissez-faire ... goes something like "The State can do whatever it likes as long as it is not doing it to ME."

[conspirosphere.tk]

now that metal detectors are so common, gold bugs are in for some bad surprise

wait a minute, you are a gold bug.

I am, but I also expect that the State will raid gold before trying to kill BTC, and that it could seize all the gold quite effectively. And then we know that the State cannot really kill BTC without shutting down the internet.

[cypherdoc]

now that metal detectors are so common, gold bugs are in for some bad surprise

wait a minute, you are a gold bug.

I am, but I also expect that the State will raid gold before trying to kill BTC, and that it could seize all the gold quite effectively. And then we know that the State cannot really kill BTC without shutting down the internet.

well i'll be a ...

after all your trolling 

welcome aboard!