Re: why I think cryptocurrency market is a fake

Quote from: ponzinomics reloaded on November 15, 2014, 08:54:50 PM

I decided analysing a bit more in detail this issue because, I like the cryptos proposal, but I think some requirements must be guaranteed to prevent cryptos becoming the currency of poor people. For the moment, I have just extracted some paragraphs from Hayek's book Denationalisation of Money. I will go further with another Austrian authors in the next few days and, at the final, I will wrap all up in a thread. Then I will update this one. Just, clarify that I am not against cryptos, at all, but looking for how to guarantee that they can be successfully adopted.

Regards

Here's Szabo on Hayek:

"Austrian economists like Hayek usually eschewed the use of traditional mathematics to describe the economy because such use assumes that economic complexities can be reduced to a small number of axioms."

"As Friedrich Hayek pointed out, our mutual inability to understand a very high fraction of what others know has profound implications for our economic and political institutions. "

Please view these links....

http://unenumerated.blogspot.com/2006/02/irreducible-complexity-of-society.html?m=1

http://nakamotoinstitute.org/literature/denationalisation/

http://szabo.best.vwh.net/hermeneutics.html

http://unenumerated.blogspot.co.uk/2007/05/microkernel-government.html?m=1

http://unenumerated.blogspot.com/2011/06/of-wages-and-money-cost-as-proxy.html?m=1

http://unenumerated.blogspot.co.uk/2012/07/three-philosophical-essays.html?m=1

http://szabo.best.vwh.net/tradition.html

http://thewealthofchips.wordpress.com/2014/10/04/what-is-ideal-money/

http://thewealthofchips.wordpress.com/2014/10/01/why-bitcoin-is-and-isnt-ideal-money/

http://diyhpl.us/~bryan/papers2/bitcoin/unforgeablecostliness.html

http://www.virtualschool.edu/mon/ElectronicProperty/EconomicConseqDigiCash.html

http://letstalkbitcoin.com/forum/post/hayek-on-keyness-ignorance-of-economics-short-video

Here's the links I gave you in the Beginning of the thread.....it's all there:

http://nakamotoinstitute.org/shelling-out/

http://web.archive.org/web/20070618142414/http://szabo.best.vwh.net/scarce.html

http://szabo.best.vwh.net/ttps.html

http://unenumerated.blogspot.com/2008/04/bit-gold-markets.html?m=1

http://unenumerated.blogspot.com/2011/05/bitcoin-what-took-ye-so-long.html?m=1

http://unenumerated.blogspot.ca/2008/06/commodity-hysteria-overview.html?m=1

The type of discussion you really may be looking for:(read the replies also) Wink

http://www.xenosystems.net/right-on-the-money-1/