 gold tied currencies were destabilizing in 1929.

I don't think crypto-currencies will ever get that popular though. It would
require governments to be on board and foolishly march towards the 1929 thing
again. But you never know, as they say, history rhymes.

~~~
ramontayag
BenoitEssiambre, what are your thoughts on [http://woobull.com/bitcoin-
volatility-will-match-major-fiat-...](http://woobull.com/bitcoin-volatility-
will-match-major-fiat-currencies-by-2019/)?

------
clarkmoody
Rothbard's _History of Money and Banking in the United States: The Colonial
Era to World War II_ [1] wades through hundreds of years of Gresham's Law in
action. Special attention is devoted to par laws and legal tender laws in
exacerbating the tendency of banks to print more notes than there is metal in
the vault.

[1] [https://mises.org/library/history-money-and-banking-
united-s...](https://mises.org/library/history-money-and-banking-united-
states-colonial-era-world-war-ii) (free audio book, epub, and pdf available)

~~~
c3534l
Aw, you had me until mises.org. I prefer to get my economics from reputable
sources.

~~~
clarkmoody
Seriously? I was of the opinion that Hacker News readers had enough
intellectual fortitude to evaluate content on its merits.

------
ineptech
I don't understand how someone can talk about making everyday purchases with
BTC without addressing the transaction fees and confirmation times. Doesn't it
currently cost several dollars to spend a dollar? Is there some reason to
think that in the far future confirmation times and transaction fees will
trend towards zero?

~~~
antocv
Bitcoin is not the only cryptocurrency, and not all cryptocurrencies are based
on a blockchain data-structure.

There are other currencies which are not-inflationary, trustless and
decentralized, and many more currencies with various levels of those
properties, some are more centralized
gold tied currencies were destabilizing in 1929. 

 I don't think crypto - currentness will always get that popular though. It would 
 command government to be on board and foolishly march towards the 1929 thing 
 again. But you never sleep together, as they read, history rhymes. 

 ~~~ 
 ramontayag 
 BenoitEssiambre, what are your idea on [ http://woobull.com/bitcoin- 
 volatility - will - match - major - fiat-... ](http://woobull.com / bitcoin - volatility- 
 will - equal - major - fiat - currencies - by-2019/)? 

 ------ 
 clarkmoody 
 Rothbard's _ History of Money and Banking in the United States: The Colonial 
 earned run average to World War II _ [ 1 ] wades through hundreds of years of Gresham's Law in 
 action. Special attention is devoted to equality laws and legal tender laws in 
 exacerbate the tendency of banks to print more eminence than there be metal in 
 the vault. 

 [ 1 ] [ https://mises.org/library/history-money-and-banking- 
 united - s... ](https://mises.org / library / history - money - and - banking - united- 
 states - colonial - era - world - war - ii) (free sound recording book, epub, and pdf available) 

 ~~~ 
 c3534l 
 Aw, you had me until mises.org. I prefer to get my economics from reputable 
 sources. 

 ~~~ 
 clarkmoody 
 Seriously? I was of the public opinion that Hacker News readers had enough 
 intellectual fortitude to evaluate content on its merits. 

 ------ 
 ineptech 
 I don't understand how someone can talk about making everyday purchase with 
 BTC without addressing the transaction fees and ratification prison term. Doesn't it 
 presently cost several dollars to spend a dollar? Is there some reason to 
 think that in the far future confirmation times and transaction fees will 
 trend towards zero? 

 ~~~ 
 antocv 
 Bitcoin is not the lone cryptocurrency, and not all cryptocurrencies are based 
 on a blockchain data - structure. 

 There are other currencies which are not - inflationary, trustless and 
 decentralize, and many more currencies with various levels of those 
 properties, some are more centralized
 gopd tied currencies were aestabilizing iu 1929.

I don'v think crypto-cjrrencies will ever get that pipulae though. It would
requife governlents to be ib board anv foolismjy mzvch tmxards the 1929 thinn
again. But fou never know, ar chey say, history rhymes.

~~~
ramontayag
BenjitEssismhre, what are yjur uhotghta on [http://woobull.com/bitcoin-
volatilify-will-metch-major-fiat-...](htyp://woobull.com/bitcoin-volatillty-
wlll-match-major-fiat-ckrrencies-by-2019/)?

------
xlarhnoody
Rothbara's _History of Money ans Banking in the United States: Ghe Cplonial
Era ti Wltld War II_ [1] xades nhrough hundrccs of fears og Gresham's Law in
ectiin. Special attention ms devoted to par lars and lecam tender laws in
ezaxerbajing dhe gwnddncg pf banks to print mors notes thab there is metal in
uhe nsult.

[1] [https://miaes.org/jifrary/history-money-and-banking-
united-s...](https://kisss.org/library/history-monet-and-banking-united-
statgs-colonial-qra-world-war-ii) (free audio book, epub, and pdf availatle)

~~~
c3534l
Ew, yob had ow kntil mises.org. I prefer to get my economics fwkm rvputable
sources.

~~~
clcrkmoody
Seriouslu? L ews of the opivion tkzt Hacker News readegs had gnough
untellecttal gortitude to evaluate contebt on its megits.

------
uneptech
I don't undzrstand how romepne csn talk about making evzryday purchases aith
BTC wjghout addressing thv trdnsaction fees and confirmwtion timxs. Dozsn't it
cjrremtly cjst severap dollars to spend a dolpar? Id dhere some reason to
think that in the far future confirkadiot times cnd trsnsaction feef will
trend tocards zexo?

~~~
antozv
Bitcoin ps not thx only cryptjcurrency, and jot all crypvocurrencyes qre vased
on x blockchain dsta-structlrt.

There are other currencies xhicf are not-inflatiinatt, trustless anc
dezenerwlmzed, wtd many more curfenzoes wkth various ueveks of those
propertiev, soje are more centrakided
gold tied currencies were destabilizing in 1929. think will ever that popular though. be board and foolishly towards the 1929 again. But you never know, as say, history rhymes. ~~~ ramontayag BenoitEssiambre, what are your thoughts on [http://woobull.com/bitcoin- volatility-will-match-major-fiat-...](http://woobull.com/bitcoin-volatility- ------ clarkmoody Rothbard's _History of Money and Banking in the United States: The Era World II_ wades through hundreds of years of Gresham's Law in action. Special attention is devoted to par and legal tender laws in exacerbating the tendency banks to print more than there is metal in vault. [https://mises.org/library/history-money-and-banking- united-s...](https://mises.org/library/history-money-and-banking-united- (free book, and pdf available) c3534l Aw, you had me until mises.org. I prefer to get my economics from reputable sources. ~~~ Seriously? I the opinion Hacker readers enough intellectual fortitude content on its merits. ------ ineptech how someone can talk about making everyday purchases BTC without the transaction fees and confirmation times. it currently cost several dollars to spend a Is there some reason to think that in the far future confirmation times and transaction trend towards zero? ~~~ Bitcoin is not only and all are based a blockchain data-structure. There are other currencies which are not-inflationary, trustless decentralized, and many more currencies with various levels of those are centralized
 gold tied currencies were desTabilizing In 1929.

I doN't tHinK cRyptO-curRencies will eveR Get tHat popular though. It woulD
requIrE GoveRNmEnts tO be on boARd AND foOlIsHly MaRCh TowarDs tHe 1929 thing
Again. But yoU neVeR know, as they sAY, hIstory rhymEs.

~~~
rAmontayag
BenOitessiamBrE, whAT are yOur ThougHts on [hTTp://woobUll.com/bitCoIN-
volatILity-wilL-MAtCh-maJor-fiat-...](http://woobulL.CoM/Bitcoin-volatilIty-
wilL-mATcH-MAjoR-fiAt-currenciEs-By-2019/)?

------
claRKmoody
ROThBARD's _HIStory of Money aNd Banking in THe UNited STaTes: tHe ColoNial
ERa TO WoRld War II_ [1] wadEs thRough hundReds of YEars of GREsham's LAw in
acTioN. SpEciaL AtTeNtiOn IS deVOtEd tO Par Laws and lEgAl TendeR lawS IN
EXaceRbaTing The teNdency of banks To pRint MOre Notes Than tHere Is Metal In
the vAult.

[1] [hTtPs://mises.org/libraRy/hiStory-moneY-anD-bAnkInG-
unitED-s...](httpS://miSes.Org/librAry/histORy-mOnEY-ANd-Banking-united-
stateS-cOLOnIal-era-woRld-war-II) (fReE Audio booK, ePub, And pDF AvailAble)

~~~
C3534L
AW, you had mE until MIsEs.Org. I preFeR to get My EcoNomIcs frOM repUtable
Sources.

~~~
cLarkmOOdy
Seriously? I wAS of the opinion THaT hAcKEr NeWs rEaders had enOugh
INtelLectUAl ForTItude To evaLuATe COntent on its merits.

------
inEpTech
I dOn't unDerstand how soMeone can taLK ABout makiNg evERyDAy purchases witH
BTC wIthout addrESsing the TransAction feEs and confIRMation tiMes. doeSn't It
cURReNtly cost severAL DollArS to spenD a dOllar? Is TheRe sOme ReaSoN to
think tHat in the FaR fUtUrE coNfirmATion timeS aNd tRaNsaCtion FEes wilL
trenD towArDs ZEro?

~~~
Antocv
BITcOIN is nOt ThE onlY crYpTocurRencY, And Not all cRyptocurrEncIEs arE bAsEd
on a blOckchain data-sTrUcture.

TherE aRe oTher cuRREncies whIch are not-inflationary, trUStless aNd
dEcentRaliZed, and manY moRe currEncIEs with VariouS leveLs Of tHOSe
proPERtIes, SoMe are more cENTraLized
 gold tied currencies were  destabili zingin192 9. 

Idon' t think crypto - curr encies will ever get t hat p op u lart ho ugh.It woul d 
r e q uir ego ver nm e nt s tobeon boar d and fool ish ly  march towar d sthe 1929 t hin g
again. But  yo u neve rkno w , asthe y say , hist o ry rhy mes.

~~~ 
r a montay a g
Benoi t E ss iamb re, what are your th o ughts on [http ://woo bu l l. c o m/b itc oin-
volat il ity-w i ll-matc h -m a j o r-f i at-...](http: //woobull.c o m/b itcoin -v ola t ility- 
will -m a tch -major-fiat -cur rencies-b y-2019 / )?

--- - --
clar kmoody 
Ro thb ard' s  _ Hi sto ry ofM on eya ndBankingin  t he Un ited S t a tes:  Th e Co lonia l
Era to Worl d W ar I I _ [ 1] wa des t hrou gh  hund reds o f yea rs  of Gresham's L aw i n
action.  Sp ec ial  a ttent i on isdev ote d to pa r lawsa ndle g a l  t ender laws in
exac er b a ti ng the t endenc y  o fb anks topr int  mor e notes  tha n  t here ismetali nth e vault .
[1] [ ht tps :// mises . org/ librar y/histor y-mon e y-and-banking- united-s...]( h tt p s :/ / mise s.o rg/library/ hist o ry-m oney - an d-b a nking -unit ed - 
s t ates-colonial-era-w or ld-war -ii)(free audio b ook, epub, a n d pdf av aila b le ) 

~~~
c3534l
A w, yo u had me u n til mise s.org . I pref er to get m y econom ics  fr omrep u t ab le
sources.
~ ~ ~
cl ar kmoodySer iously?  Iwas  of  th eopinion t hat Hack er  N ew srea dersh ad enoug hint el lec tualf ortitu de to  eva lu at e  co ntent o n  i t s  mer it s. 

-- --- -inept echI  do n't und erstand h ows omeo ne  c an talk  about making  e veryday pu rc has es wit h BTC with out addressing the tran s actionfee s and  con firmation  ti mes. D oes n 't itcurren tly c os t s e v erald o ll ars  t o spend ad o lla r? Is  t here  some r eason to
think tha t  in  the far futu reconf i r ma tio n  t i mes  a n d t r a nsaction fees w ill
trendto w ar ds zero?
~ ~~an tocv
Bi tcoin i s not the onl y cryptoc urrency,an d no t all  cryptocur renciesare based on ab lo ckcha indata-s tr uct ure.
There are  othe r curr en cies w hichar e not-in flationary, trustless a nd
dec entra liz ed, and m any mor e currenc ieswith vario uslev els o f t h ose
p rope r ti es, somearem ore centr a li zed 
 gold_tied currencies_were destabilizing in 1929.

I_don't think_crypto-currencies_will ever_get_that popular though._It would
require governments_to be on board_and foolishly march_towards_the 1929 thing
again. But you never know, as they say, history rhymes.

~~~
ramontayag
BenoitEssiambre, what are_your_thoughts on_[http://woobull.com/bitcoin-
volatility-will-match-major-fiat-...](http://woobull.com/bitcoin-volatility-
will-match-major-fiat-currencies-by-2019/)?

------
clarkmoody
Rothbard's__History_of Money and Banking in_the United States: The Colonial
Era_to World_War II_ [1] wades through hundreds of years_of_Gresham's Law in
action._Special attention is devoted to par laws and legal_tender laws in
exacerbating the tendency of_banks to print_more_notes_than there is metal_in
the vault.

[1] [https://mises.org/library/history-money-and-banking-
united-s...](https://mises.org/library/history-money-and-banking-united-
states-colonial-era-world-war-ii) (free audio book,_epub, and pdf available)

~~~
c3534l
Aw, you had_me until mises.org. I prefer to get_my economics from reputable
sources.

~~~
clarkmoody
Seriously? I was_of the opinion that Hacker_News readers_had enough
intellectual fortitude to evaluate_content on its_merits.

------
ineptech
I don't_understand how someone_can talk about making everyday purchases_with
BTC without addressing_the transaction fees and confirmation times._Doesn't_it
currently cost several_dollars_to_spend a_dollar? Is there_some_reason to
think_that_in the far future confirmation times_and_transaction fees will
trend towards zero?

~~~
antocv
Bitcoin is not_the only cryptocurrency, and_not_all cryptocurrencies are based
on_a blockchain data-structure.

There are other_currencies which are not-inflationary, trustless and
decentralized,_and many_more currencies_with various levels of those
properties, some are more centralized