RE: RE: Why Economists Are Against Cryptocurrency
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RE: Why Economists Are Against Cryptocurrency

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A sub-piece that is never discussed is bankruptcy.

Bankruptcy today is a design aspect of the system of fractional reserve banking.
The slowest person is axed. (because there is never enough money in the system to pay for all loans)

The Satoshi Nakamoto group did very well by keeping themselves hidden and creating a distributed system with no legal attack points. They probably realized, even before the start of the project, that discussing money was the third rail of economics. Don't touch it or you will be electrocuted (get the chair)

Still, bitcoin is only a step in the correct direction.
Money, as we use it, actually needs to start with the manufacturer and end back with that manufacturer.
It shouldn't continue after the circle is complete.

Real solutions will become obvious in the near future,
but till then, bitcoin is 100,000% better than fiat