11 Responses to Karl Denninger on Bitcoin. BenK says: December 25, 2017 at 8:03 am. He is, for better or for worse, completely wrong. Many economic systems are based upon diminishing returns. Malthus noted it in agricultural lands. Most resource extraction problems are structured that way – by nature, not by man. So are all sorts of value capture problems. That bitcoin does not adjust ... Karl Denninger -- The Coming Market Crash? 1) Why we are most likely to have a market crash like 2000 and 2008 (2) The European problems, and how they are likely to occur here. (3) Why he thinks there should be a CISPA bill (with many changes to it though), unlike many limited govt guys. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries ... Once you get past the childish title, the recent bitcoin piece from Karl Denninger raises some issues that warrant consideration from bitcoin economists. Denninger is an intelligent student of the ... Karl Denninger wrote a post back in April called BitCon, which was about why he believe that bitcoin won’t work.Jon Matonis offered a great response, but I wanted to elaborate in more detail on a few places that Jon may not have addressed.. Time preference and money supply. First let discuses time preference and social time preference. As Karl stated in his essay below: Karl Denninger's argument against bitcoin is based on a Chartalist view of monetary theory. This claims that money must have no intrinsic value and should strictly be used as tokens issued by government. The economic contribution of his essay is that it represents the thesis advanced by German economist Georg Friedrich Knapp in The State Theory of Money (1924), an expose advocating the ...
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