Hearn: The resolution of the Bitcoin experiment [LWN.net]

Hearn: The resolution of the Bitcoin experiment

Posted Jan 18, 2016 14:23 UTC (Mon) by accumulator (guest, #95885)
In reply to: Hearn: The resolution of the Bitcoin experiment by paulj
Parent article: Hearn: The resolution of the Bitcoin experiment

> You're wrong, boom-bust cycles have been seen in economies long before countries detached currency from precious metals. There are at least as many ways for boom-bust cycles to exist as there are things that humans can speculatively value

Please read. I didn't say boom-bust cycles started when the gold standard was let go. And yes, there can be bubbles (as opposed to cycles) in non-monetary assets, but that's speculation, and discretionary. It is entirely different if the boom-bust cycle is happening in the medium of exchange.

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Hearn: The resolution of the Bitcoin experiment

Posted Jan 18, 2016 18:59 UTC (Mon) by clump (subscriber, #27801) [Link]

Please read. I didn't say boom-bust cycles started when the gold standard was let go.

You're telling others to read?

Besides, ever since banking went to fractional reserve banking the amount of money in circulation was getting less restricted, and after we left the gold-standard even more so. It was then that the boom-bust cycles appeared, with devastating effects.

If you're trolling, mission accomplished.