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>Or maybe it comes from people who have read an Econo101 textbook and who have spent a lot of time trying to explain a crowd of Bitcoin enthusiasts why their re
by hfsp 6y ago
>Or maybe it comes from people who have read an Econo101 textbook and who have spent a lot of time trying to explain a crowd of Bitcoin enthusiasts why their reasoning is wrong
The market decides. Not an economics "expert", nor fitting btc to an arbitrary theoretical definition of money.
>It seems that tech has enabled a grand new theory about money to be implemented.
Are you aware of the Austrian school of economics?
- zepto 6y agoThe market decided about Tulips at one point. It later changed its mind.
- hfsp 6y agoIf you don't believe me or don't get it, I don't have time to try to convince you, sorry.
- Aunche 6y agoThe market is currently deciding that Bitcoin is almost entirely a vehicle of speculation, which is exactly what economists had predicted. The Austrian school of economics is completely adverse to empirical data, which makes it functionally useless.
- lottin 6y ago> Austrian school of economics The only school of economic thought that is built upon the rejection of the scientific method. https://en.wikipedia.org/wiki/Praxeology https://en.wikipedia.org/wiki/Praxeology
- hfsp 6y agoHave fun staying poor.