Hacker News new | ask | show | jobs
by BlueTemplar 38 days ago
That last example postdates Bitcoin, and even Bitcoin entering public consciousness (in 2011), so why bring it up ?
1 comments
pphysch 38 days ago
Bitcoin was not much in the public consciousness by then. It was trading at ~$10, mainly on MTGOX. It's likely its transaction volume was much lower than other non-crypto digital assets (and MTG cards) at the time.
link
BlueTemplar 38 days ago
2011 is when it had its first big public boom - and bust, accompanied by even generalist press reporting on it.

And the nerds at Valve would have been *in particular* aware of it. So causality is more likely to be reversed in that example.

link
pphysch 38 days ago
You claiming that Valve hired an economist to study digital scarcity, not because of Valve's booming ingame economies, but because Bitcoin was at $10. Sure.
link
BlueTemplar 37 days ago
No, I want to insist on Bitcoin's intellectual legacy. Before ~2011, only a handful of niche nerds at the intersection of cryptography and (goldbug) economics had heard of related ideas. After ~2011, everybody had, and started building their own (like Etherium).
link