tag:blogger.com,1999:blog-6189690633638834539.post5824933968347916302..comments2024-03-15T09:21:57.888+01:00Comments on Economics of Bitcoin: Response to Hülsmann & Hoppe from PFS 2012 Q&A session day twoPeter Šurdahttp://www.blogger.com/profile/17346161576941109337noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-6189690633638834539.post-51230553305355969202015-08-05T03:15:08.229+02:002015-08-05T03:15:08.229+02:00It seems to me that the bitcoin, and the bitcoin p...It seems to me that the bitcoin, and the bitcoin protocol are not the same thing. And yet when the uninitiated asks what the bitcoin is, the initiated tend to launch into an explanation of what functionality the bitcoin protocol serves (i.e. a "clearing system controlled by cryptography"). I think this tendency tends to make Hoppe's point.<br /><br />It seems to me, the answer to the question, "just what is a bitcoin?" is NOT a question we like to answer directly.<br /><br />In contrast, gold requires no similar kind of elaboration. It has some physical qualities we can see and feel, and understand, including its rareness, which makes it plain to a ten year old, why people might like to own it.Paul Edwardshttps://www.blogger.com/profile/17853950773137726505noreply@blogger.comtag:blogger.com,1999:blog-6189690633638834539.post-63368538987332605632015-08-05T03:11:42.111+02:002015-08-05T03:11:42.111+02:00It seems to me that the bitcoin, and the bitcoin p...It seems to me that the bitcoin, and the bitcoin protocol are not the same thing. And yet when the uninitiated asks what the bitcoin is, the initiated tend to launch into an explanation of what functionality the bitcoin protocol serves (i.e. a "clearing system controlled by cryptography"). I think this tendency tends to make Hoppe's point.<br /><br />It seems to me, the answer to the question, "just what is a bitcoin?" is NOT a question we like to answer directly.<br /><br />In contrast, gold requires no similar kind of elaboration. It has some physical qualities we can see and feel, and understand, including its rareness, which makes it plain to a ten year old, why people might like to own it.Paul Edwardshttps://www.blogger.com/profile/17853950773137726505noreply@blogger.comtag:blogger.com,1999:blog-6189690633638834539.post-61394997699039767852012-12-25T09:55:16.096+01:002012-12-25T09:55:16.096+01:00pricedingold has bitcoin measured in gold.
Btw ni...pricedingold has bitcoin measured in gold.<br /><br />Btw nice post, I am basically Austrian but I think Hulsmann/Hoppe are making a big mistake dismissing Bitcoin so easily without having studied. This is right up their "private property exchange is good" alley.Hard-Money Manhttps://www.blogger.com/profile/14997720021798091375noreply@blogger.comtag:blogger.com,1999:blog-6189690633638834539.post-81358200106229905872012-12-19T10:32:06.182+01:002012-12-19T10:32:06.182+01:00You are right Arto, the USD value fluctuations are...You are right Arto, the USD value fluctuations are ignored in my argument. I actually was interested in gold price as one of the variables during my research, but couldn't find data (price in USD) in a parseable form with sufficient granularity.Peter Šurdahttps://www.blogger.com/profile/17346161576941109337noreply@blogger.comtag:blogger.com,1999:blog-6189690633638834539.post-11964999756655555432012-12-18T06:52:34.814+01:002012-12-18T06:52:34.814+01:00Peter, glad to see this blog, and will definitely ...Peter, glad to see this blog, and will definitely be keeping an eye out for future posts here. One wee bit of constructive criticism, however: your statement that Bitcoin has appreciated by a factor of 17,600 seems a little sloppy, since you are evidently measuring that in terms of the ever-debased USD instead of a tad more solid a yardstick such as XAU. At the very least, the statement should be qualified with "appreciated in terms of the USD".Anonymoushttps://www.blogger.com/profile/08837144352860957732noreply@blogger.comtag:blogger.com,1999:blog-6189690633638834539.post-1027263756201828302012-12-16T22:55:09.173+01:002012-12-16T22:55:09.173+01:00Irdial and Giuseppe, I made a new blog post, hopef...Irdial and Giuseppe, I made a new blog post, hopefully it will clarify some things.<br /><br />http://www.economicsofbitcoin.com/2012/12/let-me-tell-you-something-about-me.htmlPeter Šurdahttps://www.blogger.com/profile/17346161576941109337noreply@blogger.comtag:blogger.com,1999:blog-6189690633638834539.post-46267333072321065262012-12-16T22:04:27.536+01:002012-12-16T22:04:27.536+01:00Well i'm an Austrian Economist and i admire mr...Well i'm an Austrian Economist and i admire mr.Hullsman and mr.Hoppe, but i've a more favourable view over Bitcoins, they represent a private issued currency that emerges on the market-place and even if is not a metal standard, and some 'obscurities' persist (but i admit that some of them could be explained by more infos that i don't have at the moment) BTs is an intersting phenomenon that remenber me the Hayekian view over currency freedom.<br /><br />Also interesting is the possibility of 'forking' and the emersion of other currencies that compete with Bitcoins, then economics laws and preferencies will do the rest.<br /><br />Giuseppe D'AndreaGiuseppe D'Andreahttps://www.blogger.com/profile/04879168487784720387noreply@blogger.comtag:blogger.com,1999:blog-6189690633638834539.post-86269820531545240672012-12-16T21:13:39.970+01:002012-12-16T21:13:39.970+01:00This blog post:
http://www.howtovanish.com/2012/0...This blog post:<br /><br />http://www.howtovanish.com/2012/09/why-bitcoin-acceptance-should-be-a-bellweather-of-liberty-proponents/<br /><br /> is relevant to the matter of Hoppe and Bitcoin, and the comment by James Bellington on that post sums it up perfectly. Hoppe and his fellow Austrians cannot be expected to understand everything that is thrown at them and they have quite alot put to them because they are famous in certain fields.<br /><br />Its best to use these people for what they are good at; theory, and then use that theory to build tools that they would never expect to emerge. Bitcoin does not need the blessing of the Austrian school or anyone else to succeed.Irdialhttps://www.blogger.com/profile/05794266609649377745noreply@blogger.comtag:blogger.com,1999:blog-6189690633638834539.post-4106649658561455052012-12-16T11:47:31.590+01:002012-12-16T11:47:31.590+01:00Good point.Good point.Peter Šurdahttps://www.blogger.com/profile/17346161576941109337noreply@blogger.comtag:blogger.com,1999:blog-6189690633638834539.post-21117885943325092532012-12-16T10:47:53.359+01:002012-12-16T10:47:53.359+01:00Also, I'm sure he does not understand the comp...Also, I'm sure he does not understand the complications of TCP/IP, sockets, HTTP, SMTP protocols and other related tecnologies, but I bet he surfs the web and uses email just fine...IlPorticoDipintohttps://www.blogger.com/profile/04594206086877743052noreply@blogger.com