I'm actively looking for critics from the Austrian school and the libertarian community because I think they are more aligned with Bitcoiners than anyone else on most things. It's more fun to engage with their criticisms.
White, Selgin and Bob don't completely deny Bitcoin's value outright. But their criticisms are worthwhile to engage with.
For example, their claim that Bitcoin can't be money because it isn't widely accepted is interesting and fair, but falls apart when you start trying to define from first principles what 'widely accepted' means.
I could be using Bitcoin to earn and spend in my locality and it could become 'money' to me, while people I interact with don't have to use it as money in all their economic exchanges and calculations. Bitcoin wouldn't stop being money to me as a result.
I suppose so many years of legal tender laws have distorted that part of our brain that can conceptualise a free market in monetary goods.
Thanks for pointing out the issue with my LN address, will fix it.
Sachin
npub1xn…43qnl
2024-09-07 11:36:42
in reply to nevent1q…l3tq
Author Public Key
npub1xnc64f432zx7pw4n7zrvf02mh4a4p7zej3gude52e92leqmw8ntqd43qnlPublished at
2024-09-07 11:36:42Event JSON
{
"id": "0487b3446861e70597bbdc1ecc149ed2350fcf29245e479e3945821ce1983b4f",
"pubkey": "34f1aaa6b1508de0bab3f086c4bd5bbd7b50f8599451c6e68ac955fc836e3cd6",
"created_at": 1725709002,
"kind": 1,
"tags": [
[
"e",
"1e4b645998f9e14db96e151f178d3c9ab4a0e237cf3cd29ce2653b56a8e74b11",
"",
"root"
],
[
"e",
"99967452d78a990aafed70465229cf09fdb26c8d43aeb379cc5fad21f9746b8b"
],
[
"e",
"b9acf253c94592d64351dc5add3b38ff31daf34da165b7f3f271de8a82509d9a",
"",
"reply"
],
[
"p",
"5d4b6c8d4921146c509e00e0930c3a41f2c81bfc06fa0794cbf7397b8a1c1ee3"
],
[
"p",
"34f1aaa6b1508de0bab3f086c4bd5bbd7b50f8599451c6e68ac955fc836e3cd6"
]
],
"content": "I'm actively looking for critics from the Austrian school and the libertarian community because I think they are more aligned with Bitcoiners than anyone else on most things. It's more fun to engage with their criticisms.\n\nWhite, Selgin and Bob don't completely deny Bitcoin's value outright. But their criticisms are worthwhile to engage with.\n\nFor example, their claim that Bitcoin can't be money because it isn't widely accepted is interesting and fair, but falls apart when you start trying to define from first principles what 'widely accepted' means.\n\nI could be using Bitcoin to earn and spend in my locality and it could become 'money' to me, while people I interact with don't have to use it as money in all their economic exchanges and calculations. Bitcoin wouldn't stop being money to me as a result.\n\nI suppose so many years of legal tender laws have distorted that part of our brain that can conceptualise a free market in monetary goods.\n\nThanks for pointing out the issue with my LN address, will fix it.",
"sig": "6eba8715f2c21842ca8f6dd523e25a09c51d73c10ab48ed7f2d23c0ede404bf629d6daefcd68fd52bf2cbc6560ed495f8ae41393b5fc1a28fed0a9acab1fb9d4"
}