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Bitcoin might be rigid, but that is solved by having lots of cryptocurrencies. Which then sort of defeats the 'hard money' nonsense theories behind its construc

Bitcoin might be rigid, but that is solved by having lots of cryptocurrencies. Which then sort of defeats the 'hard money' nonsense theories behind its construction. Similarly with Gold. Once Gold gets to a point people start hoarding elements with other atomic numbers.

DennisP 9y ago
Exactly, cryptocurrency isn't digital gold, it's the system of privately-issued competing currencies advocated by Hayek.
- paulgb 9y ago
  Hayek's currencies were backed by the issuer. They're more analogous to frequent flyer miles than cryptocurrencies.
  - DennisP 9y ago
    They could be backed in some way, but Hayek only relies on competition between issuers. In his book he writes extensively about unbacked paper money.