Comment

Comment by redthrowaway

Basic macroeconomics is a refutation of the Gold Standard. The only people I've ever heard who promote it are those (usually libertarian) who object to the very existence of the Fed on ideological grounds. I've never heard a serious, mainstream economist propose it.

Interestingly, it's also a refutation of BitCoins as a currency. They actually make a very good commodity, but they're useless as a currency. The very scarcity that gave them perceived value in the beginning has led to the hyper-deflation that now makes them unsuitable for commerce. If they could be granularized (so you could pay 150 mBC), then they might be worthwhile. When the smallest transferable amount is $10, however, they kinda suck.

parent redthrowaway 15 years ago

Discussion

Live from the official Hacker News API

A modern reader for Hacker News · SvelteKit + Skeleton