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> , a Nobel laureate in economics, said recently that bitcoin "ought to be outlawed” because it’s designed to evade regulation and "doesn’t serve any socially u
by backtoyoujim 9y ago
> , a Nobel laureate in economics, said recently that bitcoin "ought to be outlawed” because it’s designed to evade regulation and "doesn’t serve any socially useful function."
A world where if something is not required it is forbidden is not a world that I want any part of Nobel winner or otherwise.
- bitxbitxbitcoin 9y agoThe Nobel prize in Economics isn't a real Alfred Nobel prize as set aside in his 1985 will, either... So you're not the only one :).
- tonyedgecombe 9y agoEconomics isn't a real science either ...
- emodendroket 9y agoFor anyone who cares to follow up here's a good article about it: https://www.alternet.org/economy/there-no-nobel-prize-economics https://www.alternet.org/economy/there-no-nobel-prize-econom...
- emodendroket 9y agoIt seems to me like you're only taking into account half of the argument (the other half being that it's designed to evade regulation).
- wu-ikkyu 9y agoRegulation itself is not always "socially useful" for most people
- emodendroket 9y agoIf there is some sort of regulation that is harmful (do you have something specific in mind or is this just a generality?), it seems like the thing to do would be to reconsider that regulation, and not to simply allow a handful of savvy investors to skirt the regulation while the average person is still subject to it.
- wu-ikkyu 9y agohttps://en.m.wikipedia.org/wiki/Regulatory_capture https://en.m.wikipedia.org/wiki/Regulatory_capture
- emodendroket 9y agoI am familiar with the concept but don't see how it addresses anything I said to link the Wikipedia article with no commentary.