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I've always heard Krugman referred to in reverential terms, so this really leaves me scratching my head. Setting aside the near ad-hom based on the fact that p

I've always heard Krugman referred to in reverential terms, so this really leaves me scratching my head. Setting aside the near ad-hom based on the fact that people use currency for drugs, he seems to take the idea that bitcoin is anonymous for granted. That means he doesn't understand what he's talking about, and there can't be two ways about it. Bitcoin can be considered pseudonymous, and in a system where exchanges need to abide by money transmitter laws combined with the fact that every transaction is a matter of public record, the situation is murky at best. And when you actually think about it, if people must identify to exchange bitcoin for other currencies, that might mean a sea change in the transparency of financial transactions. Krugman, if you read this, think of your goddamn reputation and do some research! There are about a million exciting inferences to be made based on the hard rules of the bitcoin protocol. Start here. http://bitcoin.org/bitcoin.pdf http://bitcoin.org/bitcoin.pdf

damian2000 14y ago
I get what you're saying and agree, but it remains that a lot of people using Bitcoin actually do want to be anonymous. http://bitcoin.stackexchange.com/questions/439/how-can-one-remain-relatively-anonymous-while-using-bitcoin http://bitcoin.stackexchange.com/questions/439/how-can-one-r...
hudibras 14y ago
Lots of comments here about how his minor "back alley" analogy, but so far nothing about his main point comparing bitcoiners to goldbugs.
- XorNot 14y ago
  Which is also completely accurate. That is the exact and often lauded benefit of BitCoin. It's as anonymous as that act, but digital and cross-border. That the technical details differ is functionally irrelevant since this is what BitCoin people are claiming you can do!
richcollins 14y ago
I was listening to a talk show on public radio a few months ago. The man being interviewed said it would be a great idea to build a defense against alien attack as a way to stimulate the economy. I laughed aloud and wondered what sort of crackpot they'd invited onto the show. When they returned from commercial the host announced "we're back with Nobel Prize winner Paul Krugman" ... http://www.huffingtonpost.com/2012/06/21/paul-krugman-alien-invasion_n_1612973.html http://www.huffingtonpost.com/2012/06/21/paul-krugman-alien-...
- vinhboy 14y ago
  It's probably a tongue-in-cheek statement, but the idea behind it is pretty sound. Besides, we are already doing that. For example, we have factories in middle America building airplanes the army does not want or need simply because the workers in those factories need the jobs.
  - richcollins 14y ago
    Yes wasting resources is an incredibly sound idea. Lets just increase taxes to 95% and spend it all digging ditches!
- cromwellian 14y ago
  The point was sarcastic. Our political system seems unable to take meaningful action unless there is a crisis. Between this and the misinterpreted claims that Krugman actually called for the Bush administration to initiate a housing bubble are really weak ad hominem attacks.
  - richcollins 14y ago
    I think the point is that all spending is good spending. Imagine if we spent all of our resources building defenses against aliens. Wed all starve
    - cromwellian 14y ago

damian2000 14y ago

I get what you're saying and agree, but it remains that a lot of people using Bitcoin actually do want to be anonymous. http://bitcoin.stackexchange.com/questions/439/how-can-one-remain-relatively-anonymous-while-using-bitcoin http://bitcoin.stackexchange.com/questions/439/how-can-one-r...

hudibras 14y ago

Lots of comments here about how his minor "back alley" analogy, but so far nothing about his main point comparing bitcoiners to goldbugs.

XorNot 14y ago
Which is also completely accurate. That is the exact and often lauded benefit of BitCoin. It's as anonymous as that act, but digital and cross-border. That the technical details differ is functionally irrelevant since this is what BitCoin people are claiming you can do!

richcollins 14y ago

I was listening to a talk show on public radio a few months ago. The man being interviewed said it would be a great idea to build a defense against alien attack as a way to stimulate the economy. I laughed aloud and wondered what sort of crackpot they'd invited onto the show. When they returned from commercial the host announced "we're back with Nobel Prize winner Paul Krugman" ... http://www.huffingtonpost.com/2012/06/21/paul-krugman-alien-invasion_n_1612973.html http://www.huffingtonpost.com/2012/06/21/paul-krugman-alien-...

vinhboy 14y ago
It's probably a tongue-in-cheek statement, but the idea behind it is pretty sound. Besides, we are already doing that. For example, we have factories in middle America building airplanes the army does not want or need simply because the workers in those factories need the jobs.
- richcollins 14y ago
  Yes wasting resources is an incredibly sound idea. Lets just increase taxes to 95% and spend it all digging ditches!
cromwellian 14y ago
The point was sarcastic. Our political system seems unable to take meaningful action unless there is a crisis. Between this and the misinterpreted claims that Krugman actually called for the Bush administration to initiate a housing bubble are really weak ad hominem attacks.
- richcollins 14y ago
  I think the point is that all spending is good spending. Imagine if we spent all of our resources building defenses against aliens. Wed all starve
  - cromwellian 14y ago