Post
Topic
Board Economics
Re: Krugman makes some good points
by
Puppet
on 26/03/2013, 08:42:54 UTC
It just seems you want our society to use a tool that works for you;

Close. I want society to allow me to use a tool that works for me. As, indeed, I suspect does everyOtherFrickinBody.

You can tilt at your 'what's good for society' windmills all you want. The market is made by multitudinous individual actors, each endeavoring to maximize their benefit.

You want to sell some monetary scheme that doesn't work for the individual? You're not selling anything that society (merely a large collection of those samesaid individuals) wants.

There is always a conflict between interests of the individual and society. I dont like paying taxes any more than anyone else, but that doesnt mean a society with no taxes is actually feasible or desirable.
Secondly;  the tool that works for you doesnt work for a business that needs credit to invest. It doesnt work for the majority of people wanting to start a business, buy a house, or even a car. So you are a tiny minority.

Let me repeat; I have nothing against bitcoin. Its a great concept, a powerful tool and potentially a lucrative investment; bitcoin is possibly an alternative to gold but anyone who thinks it can actually replace credit money is seriously misguided. You cant have a flourishing  economy without credit and you cant have credit with a hugely deflationary currency. Ripple might fit the bill and could potentially be a more credible alternative to fiat, even if bitcoin is used as its monetary base, like gold used to be our base under the gold standard, but then the obvious question becomes why in the long run you would need that monetary base to begin with.