31 Dec '13, 3am

Paul Krugman trolls Bitcoin fans, Bitcoin fans go ballistic in return

The first rule of Bitcoin is never joke about Bitcoin. Paul Krugman learned this the hard way. The Nobel Prize-winning economist wrote a blog post this weekend expressing some mild doubts about the digital crypto-currency. He's not sure it works as a store of value or a medium of exchange, but is open to arguments in favor of it. He dislikes Bitcoin's "libertarian political agenda" -- it is beloved by people who chafe at government control of money and yearn for the good old days of the gold standard -- and thinks some Bitcoin fans let their political leanings blind them to Bitcoin's flaws. Nothing much to get excited about, in other words. But! For laughs, Krugman slapped the title "Bitcoin Is Evil" on his post. Though he never actually argued that Bitcoin is evil, that was enough to uncork the wrath of the Bitcoin army, which bombarded Krugman with what he called "rage-f...

Full article: http://www.huffingtonpost.com/2013/12/30/paul-krugman-bit...

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