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Maybe he didn't read closely enough his thoughts. Actually, Varoufakis from his twitter account said that since there is this post around[1] by our beloved Berl
by atmosx 12y ago
Maybe he didn't read closely enough his thoughts. Actually, Varoufakis from his twitter account said that since there is this post around[1] by our beloved Berlinese internet-economist TechieChan he didn't had to analyze BTC any further.
A couple of points he made are:
* He believes that the BTC market can be manipulated by big players easily.
* Having a central bank regulating your economy is a good thing, because you know to whom point the finger when shit hits the fan.
* He understands that liberals like the perception of freedom that bitcoin gives but it's ultimately false.
All points which I share and believe although I have bought and sold BTC in the past. These are not insights really, these are elementary economics. It's strange that programmers who understand algorithms and cryptography can not wrap their around these things. It always amazed me, I can't explain it :-/
[1] http://www.techiechan.com/?p=1954 http://www.techiechan.com/?p=1954
- xkarga00 12y agoMaybe reading his post twice wasn't enough. Or maybe it's just that Bitcoin is not just "money" but the whole underlying technology ie. the blockchain is about to introduce huge changes into things we have been used to do in a certain way.
- atmosx 12y agoThe post was about Bitcoin (the currency) not bitcoin (the protocol). You read it twice and didn't get that part? :-P
- xkarga00 12y agoWell, that's exactly why Varoufakis has to revisit Bitcoin. Because the protocol's pros outweight by far the currency's cons.
- atmosx 12y agoOkay than this is a misunderstanding. I am sure Varoufakis was talking about the currency. There is no doubt whatsoever that the protocol is one of the most important technological advancements of the past decade, maybe of the 21st century.