[penny500]

Krugman isn't being a political partisan hack here. Every mainstream economist from the Republican and Democratic administrations agree that a currency backed similarly to gold (as opposed to a central bank) is not a good idea.

[smokeyj]

Central planners like central banking? Get out.

[penny500]

Mainstream economists aren't central planners. I don't mean just economists from both administrations. I meant mainstream economists from every school on the US News and beyond.

[bcoates]

But Krugman isn't complaining about Bitcoin's monetary policy here; he's complaining about the operation of the network itself. It's a pretty weak argument; he's claiming that the network costs too much without doing any kind of serious cost-benefit analysis, just an inapt comparison to gold coins.

[smokeyj]

When the entire mainstream media portrays a complex and controversial issue as entirely one sided, this gives you confidence?

[penny500]

"mainstream media" != "mainstream economists"

I'd prefer the opinions of PhD economists with a special emphasis on currency transactions over yours or anyone else's, actually.

[smokeyj]

Economists who don't agree with Keynes aren't credible because they're not the majority? I prefer science over mob mentality.

[penny500]

Are you serious? Just because you're not Keynesian, it doesn't mean you do not believe in a central bank. Milton Friedman believed in a central bank.