Volatility, Deflation and Manipulation: A Response to Bitcoin's Critics
Bitcoin has its share of critics and skeptics, and opposition to the emerging technology - especially among the intelligentsia - shows no sign of abating. Notable commentators on the topic range from author Jeffrey Robinson to finance blogger Karl Denninger, Boston University professor Mark Williams, rabid Keynesian Paul Krugman, Austrian economist Gary North and FT Alphaville's Izabella Kaminska. Generously, I'm assuming that the pundits listed above have a thorough and accurate understanding of the bitcoin protocol that facilitates its native token's dual role of currency and commodity.....
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Although it has been overshadowed in recent months by mostly regulatory news, the issue of deflation and bitcoins is still a topic worthy of debate. It was one of the biggest criticisms that faced bitcoin earlier this year as the price rose to an all-time high. Most of the bearish views on bitcoin deflation came from economists, who may or may not have understood the true nature of bitcoin. What is deflation? The general idea is that deflation is a decrease in the price of goods and services. In this case, we are specifically talking about bitcoins. As bitcoin's value goes up, the cost of....
Tesla CEO Elon Musk has warned that a major rate hike by the Federal Reserve risks deflation in the U.S. economy. Musk’s warning followed an analysis by Ark Invest CEO Cathie Wood, who cautioned that “Leading inflation indicators like gold and copper are flagging the risk of deflation.”
Elon Musk, Fed Rate Hikes, and Deflation
Tesla and Spacex CEO Elon Musk tweeted Friday evening that “A major Fed rate hike risks deflation.” His tweet has attracted much attention. At the time of writing, it has been liked 80K times and retweeted almost 7K....
In this episode of Fed Watch, the hosts discuss the technology-driven deflation debate. The post Video: Debating Technology-Driven Deflation appeared first on Bitcoin Magazine.
With Bitcoin, deflation could make cost of living more affordable, increasing the attainability of assets for all.
Bitcoin investor Marc Andreessen has said that he stands by Bitcoin. His statements comes in the wake of the poor start that Bitcoin has had in the opening hours and days of 2015. He shared his thoughts with the world via 26 Twitter messages in which he held court on the various arguments that have been made about Bitcoin's poor showing and volatility. Also read: Marc Andreessen: Bitcoin Will Work in a Spectacular Way. Andreessen to Critics: Use a Bigger Window. He began his string of tweets by tearing into Bitcoin critics who have used the volatility of the cryptocurrency to assert that....