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In my case I have always liked and followed the Bitcoin scene because everybody in his right mind knew it would turn into a shitshow.

I mean you have the combination of an open source community, libertarians, and a shitload of money. The outcome is pretty obvious.

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I like to imagine Krugman and co pacing around their offices wondering why Bitcoin hasn't completely crashed - with the occasional murmur of "deflationary" and "libertarians" and "no it can't be".

Why would Krugman wonder why it did not crash? Bitcoin is a pyramid with an expiration date far in the future and currently everything but deflationary.

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