[2013-12-28] New York Times (Paul Krugman's blog) : Bitcoin is Evil

[Peter R]

http://krugman.blogs.nytimes.com/2013/12/28/bitcoin-is-evil/?smid=tw-NytimesKrugman&seid=auto&_r=1&

More of his usual "I can't figure out what backs bitcoin."  

Now after reading it, I am disappointed because he didn't really explain why he thought it was "evil."  He just made one reference to bitcoin being a tool to escape central banking and limit the government's ability to monitor its citizens' financial transactions and collect taxes.  He then said he "doesn’t like that agenda" but didn't really explain how such an agenda was "evil."

[Minor Miner]

yes, I am glad I live my life by what Krugman predicts.    His prediction that the impact of the internet to the global economy would be less than the fax machine was brilliant.

[cr1776]

Doubt the NYT will show this comment:
Someone who can't even get "BitCoin" correct as "Bitcoin" or "bitcoin" (see the wiki) wants to be believed about all the other stuff?  Paul, you don't just miss the little stuff, you are missing the big picture.  The bitcoin blockchain answers a large theoretical question in Computer Science, provides nearly instant, nearly frictionless transfer around the world.  Hint: Bitcoin could have much more impact on commerce than the fax machine (and internet, lol) did.

Since Krugman thinks the second to last paragraph in his column is a good way to encourage polite discussion, I suspect that Krugman likes Keynesian economics because it pushes his big government, central bank, inflation loving, control-freak fetish which pleases his masters in government.  

[cr1776]

Regarding why he thought it was evil, I think this part was what the title referred to:

BitCoin looks like it was designed as a weapon intended to damage central banking and money issuing banks, with a Libertarian political agenda in mind—to damage states ability to collect tax and monitor their citizens financial transactions.

Krugman is an authoritarian statist at heart who wants to "monitor" citizens financial transactions and thinks that is a good thing!  When the state has the power to monitor, it means control and that is their goal.

I find it very telling that the article quotes that part saying that Bitcoin is "intended to damage central banking and money issuing banks".  If he and his masters were not worried about the potential, he would not be obsessing about Bitcoin (or BitCoin as he says - he probably calls the Federal Reserve the "FED" too) repeatedly over the last year.

Krugman et al know that their games that they play with paper money are being exposed by technology and don't like it because it ruins their plans to monitor and control the rest of us.

[justusranvier]

The "agenda" which Krugman and Stross don't like is the hoi polloi are tired of having their purchasing power stolen by central planners and are starting to realize they don't have to put up with it any more.

[Gabi]

Kk thx for the info bai.

[NixZiZ]

Well...

I propose that the writer is in bed with the fed right now. 

[solex]

A glorious antidote to the bile from Krug-I-am-an-idiot-Man.

http://www.krugmaniswrong.com/

Hopefully there will be a rebuttal of the latest idiocy.

[justusranvier]

A glorious antidote to the bile from Krug-I-am-an-idiot-Man.

http://www.krugmaniswrong.com/

Hopefully there will be a rebuttal of the latest idiocy.

I have it on good authority that Stefan Molyneux will be taking on Krugman and Stross in a combined rebuttal.

[Arvicco]

Now, "Conscientious Liberal" Paul Krugman is really pissed off...  

[undeadbitcoiner]

BitCoin looks like it was designed as a weapon intended to damage central banking and money issuing banks, with a Libertarian political agenda in mind—to damage states ability to collect tax and monitor their citizens financial transactions.

I think its his Lack of Education and Information about Bitcoin you need to start from the point in time or space at which something starts.

[Mike Christ]

Isn't this the fellow who praises the welfare state?  It should come as no surprise that a villain would paint a vehicle of good as evil; of course bitcoin would be harmful to men such as he.

[BitDreams]

SWEET! The N.Y.TIMES allows one to actually TWEET comments INSTEAD of the article!!!

Skip the article, tl/dr, go to comments, locate Jim H from Waco, read it, and Tweet the comment NOT the article. 

[cr1776]

Bitcoin is a tool for freedom. The ones who oppose it have their motivations clearly displayed. 

[black_swan]

I mean, what's the point on writing a meaningless (yes it's meaningless, no explanations given on most part) title Bitcoin is Evil?
He probably doesn't even know that a blockchain exists and that's what "backs" bitcoin.

[marcus_of_augustus]

Hit piece by the paid mouthpiece ... the tools of his tyranny are becoming ever so transparent.

noble prize, not.

Krugman is Evil

"Do no Evil" - Google

[EvilPanda]

Now after reading it, I am disappointed because he didn't really explain why he thought it was "evil."  He just made one reference to bitcoin being a tool to escape central banking and limit the government's ability to monitor its citizens' financial transactions and collect taxes.  He then said he "doesn’t like that agenda" but didn't really explain how such an agenda was "evil."

That's exactly why BTC is important, good and supported by the people. If there's anything evil in this world it's the banking system. Govermental control is good? How can he even look in the mirror after talking such bullshit.

[oakpacific]

I am extremely pleased to read such articles by Krugman, being a Nobel laureate, he deigned to come up with so many posts about Bitcoin only shows how panic he is with it. I know you are shaking in your boots Paul, you sense that something inevitable is coming and you are desperate.

[bitbouillion]

Essentially Krugman says, any kind of money, which is not government money, is evil.

[Peter R]

I am extremely pleased to read such articles by Krugman, being a Nobel laureate, he deigned to come up with so many posts about Bitcoin only shows how panic he is with it. I know you are shaking in your boots Paul, you sense that something inevitable is coming and you are desperate.

When I read that article, I could not believe that words and quotes like that would ever be written by a Nobel laureate.  It almost seems that he is feeling genuinely threatened, which actually blows my mind.  We have two other threads analyzing his post in more detail:

https://bitcointalk.org/index.php?topic=389565.0

https://bitcointalk.org/index.php?topic=389545.0