[2013-12-12] Video - PAUL KRUGMAN: Bitcoin's Value Is Driven By The Fact That ..

[LiteCoinGuy]

PAUL KRUGMAN: Bitcoin's Value Is Driven By The Fact That It Sounds Impressiv

http://www.businessinsider.com/paul-krugman-on-bitcoin-2013-12

[meanig]

Thanks for the advice Paul. Selling all my bitcoins now for dollars backed by guns. Please don't shoot me Bernake 

[marcus_of_augustus]

this is precious ... the Federal Reserve sounds 'impressive' too ... until you realise what a rotten scam it is, $85 billion a month to their busted-ass bankster buddies and counting Paul, yep that is impressive, impressive scale of theft!

a Nobel Prize in Economics 'sounds impressive' too ... until you realise what a little lickspittle lackey to banksters is worth in the open market for corrupted ideas men. (side note the nobel prize for economics was not instituted by Nobel himself with the hard sciences but added much more recently ... maybe to make economics sound more impressive?)

but to be honest, if that is the best they got, we're golden chaps. Bitcoin sounds impressive because it is impressive ... but Krugman would have to do some C++ coding to truly know that, we await your commits to github Paul 

[bitbouillion]

"Fiat backed by taxes" - that works well as long as the financial structure of a state is sound - now we have a central bank printing part of the interest payments for the government. BTW, he did not say "Dollar".

[goxed]

Do we now need a Bitcoin militia?

[oakpacific]

The platinum trillion dollar coin would sound a lot more impressive.

[beetcoin]

this is the kind of thing that someone who does not understand something says. along with "it's not a good investment since government doesn't back it." it's actually the opposite.. it's a good investment because government DOESNT back it.

[oOoOo]

Do we now need a Bitcoin militia?

"fiat money is backed by men with guns..."

It is interesting how Krugman understands money better in this case than some "libertarians" who believe that fiat is "backed by nothing"...

[linuxnewbie]

Do we now need a Bitcoin militia?

"fiat money is backed by men with guns..."

It is interesting how Krugman understands money better in this case than some "libertarians" who believe that fiat is "backed by nothing"...

Fiat money is backed by men (with guns)...who are paid in fiat money.

On another note, if Krugman is to be taken seriously, I'm pretty confident that Bitcoin will remain impressive-sounding and therefore, as long as human civilization exists, hold at least some value.

[kjlimo]

Do we now need a Bitcoin militia?

Can't you buy that on Silk Road?  Haha

[Rygon]

Do we now need a Bitcoin militia?

"fiat money is backed by men with guns..."

It is interesting how Krugman understands money better in this case than some "libertarians" who believe that fiat is "backed by nothing"...

"in principle, you can have assets, which are considered valuable, even though there is nothing backing them"

Wow, Krugman implying that Bitcoin is an asset. Sounds bullish.

[TraderTimm]

I'm glad Krugman panned it, because he's now in the company of Greenspan and Cramer. That's all the contrary indicators you need. If these bozos don't like Bitcoin, you're golden.

[Carlton Banks]

Do we now need a Bitcoin militia?

"fiat money is backed by men with guns..."

It is interesting how Krugman understands money better in this case than some "libertarians" who believe that fiat is "backed by nothing"...

And he's fully admitting that this fiat money is in essence a gangster system, enforced in the way that gangsters do it. And that he's a spokesperson on behalf of the gangsters.

[omahapoker]

didnt Krugman say bitcoin was a fad back in 2011?


This guy thinks he the smartest.




Don't be a Krugman

[p2pbucks]

ya mami is asking ya to eat dinner PAUL