[Time Published January 01, 2014 at 05:54AM]
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Nobel prize-winning economist and New York Times columnist Paul Krugman wrote a blog post this weekend with a tantalizing title, "Bitcoin Is Evil," that has provoked the expected backlash from proponents of the virtual currency.
The headline over-promises, unfortunately — while you could make an argument that Bitcoin nefariously wastes computer power, enables crime, and encourages anarchy, that’s not what Krugman’s saying. (Science fiction writer Charlie Stross’ "Why I want Bitcoin to die in a fire" is more satisfying.) Instead, Krugman attacks Bitcoin’s economic fundamentals for the zillionth time.
Almost any time you see someone from a university praising Bitcoin, that person is from the computer science department. And if...
Continue reading…
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[ Author: | Source: http://www.theverge.com/2013/12/31/5260534/krugman-bitcoin-evil-economists] | Image URL: http://cdn2.sbnation.com/entry_photo_images/9622203/IMG_0666-1200_large.jpg] [IFTTTautoSHAREv1.002 | Shared with ifttt.com More shared news etc on: http://bit.ly/Schavuiten_blog ]
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Nobel prize-winning economist and New York Times columnist Paul Krugman wrote a blog post this weekend with a tantalizing title, "Bitcoin Is Evil," that has provoked the expected backlash from proponents of the virtual currency.
The headline over-promises, unfortunately — while you could make an argument that Bitcoin nefariously wastes computer power, enables crime, and encourages anarchy, that’s not what Krugman’s saying. (Science fiction writer Charlie Stross’ "Why I want Bitcoin to die in a fire" is more satisfying.) Instead, Krugman attacks Bitcoin’s economic fundamentals for the zillionth time.
Almost any time you see someone from a university praising Bitcoin, that person is from the computer science department. And if...
Continue reading…
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[ Author: | Source: http://www.theverge.com/2013/12/31/5260534/krugman-bitcoin-evil-economists] | Image URL: http://cdn2.sbnation.com/entry_photo_images/9622203/IMG_0666-1200_large.jpg] [IFTTTautoSHAREv1.002 | Shared with ifttt.com More shared news etc on: http://bit.ly/Schavuiten_blog ]
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