My critique of Mark Carney's critique of central bank digital currency, or CBDC. He thinks the stuff will be dangerous, I think it could suffer from irrelevance: https://jpkoning.blogspot.ca/2018/04/critiquing-carney-critique-of-central.html …
-
-
Were you part of the vote in 1971 when Nixon decided to redesign the monetary system? Exactly.
-
As I'm British, and at the time was very young, clearly not. But then the decision to link the USD to gold and my country's currency to the USD was taken long before I was born. How far back do you want to go?
-
Don’t you think experimentation and innovation of several financial units competing against each other in cyberspace is a great idea to try to build even better money?
-
I do, actually. But that isn't what is going on right now. What is happening right now is an attempt by goldbugs and Austrian economic cranks to take over the monetary system. It would be the triumph of shamanism.
-
No one is forcing anyone (like fiat does). You can participate or not out of your own free will! This is simply an alternative. You can stick to fiat, but history shows that Gold is superior to copper pieces. Similary Bitcoin is superior to previous forms.
-
History doesn't show any such thing, except to those who want to believe it and are therefore prepared to ignore or discount large swathes of historical evidence to the contrary - as
@saifedean did. -
Why do you think fiat is better than Bitcoin?
-
Right now, I think that the promise of Bitcoin is being seriously degraded by the goldbug irrationality and the cultic behaviour. If you really want Bitcoin to replace the current system, ditch the cranks.
- 7 more replies
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.