Hacker News Reader

lol this this thisssss! bitcoin culture in a nutshell. the major economists & finance analysts say stuff like "explain how this is not a speculative bubble", for example, because they outright see it as one & the bitcoiners dismiss them as hacks because they didn't use a bunch of crypto buzzwords

View on HN

Which is more likely, that economists don't understand cryptography, or cryptologists don't understand economics?

More likely than either being particularly more likely than the other is that neither economists nor cryptographers are particularly likely to understand the other field.

yea but my view here is that you don't need to understand cryptography to derive the value of a Bitcoin. It is akin to other currency systems that have come before it. the crypto aspects are new, sure, & provide a good infrastructure that may give it staying power but the cryptography shouldn't actually be where the value comes from.

I think a sound economic analysis of the market can be done regardless of the transactional method. sure, it's clever but its a feature of a value store, not actual value

Reply on news.ycombinator.com