[Chugalug] OT:Bitcoin taking hits in press

Stephen Kraus ub3ratl4sf00 at gmail.com
Mon Apr 15 02:19:00 UTC 2013


Paul Krugman, Nobel Laureate in Economics thinks otherwise.

http://www.huffingtonpost.com/2013/04/13/paul-krugman-bitcoins_n_3076574.html




On Sun, Apr 14, 2013 at 10:04 PM, William Wade <willm.wade at gmail.com> wrote:

> I wonder how much power and environmental resources it takes to do money
> the old fashioned way. The power it takes to create a bitcoin is part of
> what gives it value and stability.
>
> I think Adam Smith would be intrigued by bitcoin, but like everyone else
> will not really know what to make of it until more time passes.
>
>
> On Sun, Apr 14, 2013 at 9:31 PM, Rod-Lists <rod-lists at epbfi.com> wrote:
>
>> From Slashdot
>> Is Bitcoin Mining a Real-World Environmental Problem?
>> "Mark Gimein points out that Bitcoing mining uses a lot of power, enough
>> that it is a real world problem: 'About 982 megawatt hours a day, to be
>> exact. That’s enough to power roughly 31,000 US homes, or about half a
>> Large Hadron Collider."
>>
>> http://news.slashdot.org/story/13/04/14/2234251/is-bitcoin-mining-a-real-world-environmental-problem
>>
>> Krugman argues "Adam Smith Hates Bitcoin"
>> http://krugman.blogs.nytimes.com/2013/04/12/adam-smith-hates-bitcoin/
>>
>> Krugman and others have argued that Bitcoin is experiencing deflation in
>> relation to other currencies.
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>
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