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RE: Why Most Economists Hate Bitcoin

in #bitcoin6 years ago (edited)

Just be careful when it comes to Saifedean Ammous. Like Andreas Antonopoulos they both have been raised to the skies even as they have a habit of glossing over some details of Bitcoin that they don't fully understand, appreciate as much or agree with. As intelligent as they may be, it's outright dangerous to put these men on too high a pedestal.

Don't get me wrong, you can learn a great deal from all of these people. Especially Friedman and Rothbard. But not even skin in the game is enough to stop some people from making mistakes and even from knowingly deceiving themselves.

This is what I think Ammous currently is doing. He's not really an Austrian economists as much as a "free banker" and he doesn't care much for Bitcoin being P2P in terms of payments themselves and for these to be like cash, as much as he wants Bitcoin to be a grassroots operation in terms of who runs the nodes and to be like "digital gold". In my opinion, this is a dangerous lean.

Bitcoin is antifragile, yes. Which is why you shouldn't fear forks for example. But as to what people consider Bitcoin to be, whatever that is remains far from incorruptible just as peoples minds can be corrupted or led astray.

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