Bitcoin Commentary from Krugman

Hmmm,

Krugman's opposition tells me that this may be a good thing.

"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks." That was the message satoshi put in the genesis block...

"The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts."-satoshi. Hard to say author is incorrect, but obviously not in a bad way

Have they ever figured out who Satoshi Nakamoto is? I know there's some theories.

There's some dude on this board, a Bama fan (surprise), that thinks it's the mark of the beast. Who knew he and Krugman were fellow travelers!

Yeah, I’m perplexed here, usually with Krugman, you know what not to do.....Worst economist probably in History.

quote:

---

BitCoin looks like it was designed as a weapon intended to damage central banking and money issuing banks, with a Libertarian political agenda in mind—to damage states ability to collect tax and monitor their citizens financial transactions.

---

It's amazing how late to the party some of these experts are.