tag:blogger.com,1999:blog-3758330678390419129.post7674401957127911689..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Alan Greenspan Compares Bitcoin to Civil War Greenbacks and ContinentalsRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-3758330678390419129.post-12168666262437410532017-11-14T00:21:36.519-05:002017-11-14T00:21:36.519-05:00His example is two government printed fiat dollars...His example is two government printed fiat dollars that were printed till they were worth nothing. If he was comparing one to the other it would make sense not to bitcoin. Christianhttps://www.blogger.com/profile/07383095929024216356noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-42406133205950206632017-11-10T14:17:48.600-05:002017-11-10T14:17:48.600-05:00"Constructivist" wanta-be money, a la Ha..."Constructivist" wanta-be money, a la Hayek's bank-supplied commodity-basket money in the Denationalization of Money tract.<br />Jule Herberthttps://www.blogger.com/profile/04010275785788333723noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-55584045754078077532017-11-10T12:20:10.507-05:002017-11-10T12:20:10.507-05:00Greenspan was using fiat in a different sense as k...Greenspan was using fiat in a different sense as kind of the opposite of regression theorem money.<br /><br />Robert Wenzelhttps://www.blogger.com/profile/14296920597416905488noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-13520768053327304342017-11-10T10:57:38.425-05:002017-11-10T10:57:38.425-05:00"Bitcoin" is neither "money" n..."Bitcoin" is neither "money" nor can it be described as being "fiat." It is not a common means of exchange, and it has not been declared as legal tender by State decree (or fiat). Apparently, it has the opportunity to become money, especially in areas like Venezuela which suffer from hyper-inflation of the local fiat money, but which for some reason are unable to Jule Herberthttps://www.blogger.com/profile/04010275785788333723noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-6775684890226416882017-11-10T08:30:42.419-05:002017-11-10T08:30:42.419-05:00The short run problem is state intervention, and t...The short run problem is state intervention, and the long run problem is scarcity. The denomination of "Bitcoin" is indeed scarce, but crypto-currency itself is the commodity in question, and it can be infinitely reproduced under different names. Bitcoin gets a boon now while everyone waits to see the government reaction, but as soon as that plays out, if the idea of a privately Danhttps://www.blogger.com/profile/10093015817454848847noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-313895278968846692017-11-10T07:57:32.922-05:002017-11-10T07:57:32.922-05:00Although Bitcoins are theoretically limited, they ...Although Bitcoins are theoretically limited, they are infinitely divisible. Moreover, cryptocoins as a whole can be infinitely digitally printed.Mirand Sharmahttps://www.blogger.com/profile/13193536604507684890noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-91618212117983821982017-11-10T07:10:19.282-05:002017-11-10T07:10:19.282-05:00That's like saying the mercurial rise in marke...That's like saying the mercurial rise in market value back in the day, of Beanie Baby dolls and Cabbage Patch dolls near Christmas time (remember the run on stores by parents, searching for "must have" gifts for their kids?) is akin to government fiat money. Ridiculous. Anonymoushttps://www.blogger.com/profile/08236071066075535008noreply@blogger.com