The crying of bitcoin lots

[alice malice]

I'm with Krugman. From a positive economics perspective I'm not
convinced it has value. Sliding toward the normative economic point of
view, I'm with Robert Shiller on the Bitcoin.  I find the science and
culture of it fascinating, as I find Tulips fascinating too, and Gold,
and, for different reasons, Yap, but I think it's a very good lesson
in bubbles.

Shiller, though most famous for his Housing Index, the Case Shiller,
much to the surprise of his students and investment gurus the world
round, claims that housing is not an investment. Nor is Gold,
Tulips...Bitcoins.

I agree with him.

https://www.youtube.com/watch?v=KbtVaTWs6II


http://krugman.blogs.nytimes.com/2013/12/28/bitcoin-is-evil/

http://www.businessinsider.com/robert-shiller-bitcoin-2014-1


http://www.npr.org/blogs/money/2011/02/15/131934618/the-island-of-stone-money

On Sun, Jul 6, 2014 at 10:16 AM,  <kelber at mindspring.com> wrote:
> A story about how the U.S. Marshals Service auctioned off some of the bitcoins it "confiscated" from the deep web (or whatever you want to call it) Silk Road network:
>
> http://bits.blogs.nytimes.com/2014/07/03/daily-report-winner-of-bitcoin-auction-seeks-to-increase-currencys-use-in-emerging-markets/?module=BlogPost-Title&version=Blog%20Main&contentCollection=Technology&action=Click&pgtype=Blogs&region=Body
>
> What interests me is how the decision was made to auction the bitcoins, which obviously enhances their value. Wasn't the US government trying to squash the bitcoin? I think these supra-national currencies are the wave of the future, and mark the eventual, if not demise, then marginalizing of government-issued currencies. But what do I know. Alice, I'd actually like to hear your opinion on this.
>
> Laura
> -
> Pynchon-l / http://www.waste.org/mail/?list=pynchon-l
-
Pynchon-l / http://www.waste.org/mail/?list=pynchon-l