As Rothbard said, '“It is no crime to be ignorant of economics (...) but it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance".
After others like Schiff and Roubini, #InseBhiMilo
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RT @kaul_vivek
Why bitcoin won’t become like money
Why Taleb is right, despite his timing
Why a free market in money is a bad idea
Why many bitcoin believers also believe in a…
https://twitter.com/kaul_vivek/status/1362258835214274571
Nowhere in the article does our man try to describe what 'money' is. Since he claims to have read Saifedean, here's what Saifedean says :
Most of the arguments he makes have been made time and again since at least 2013.
The least he could do is 'steel-man' those arguments.
But last we checked, Austrian economics 'has only one hammer'..
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RT @kaul_vivek
@inlibertyreport Ah Austrians and their one hammer...
https://twitter.com/kaul_vivek/status/1360870098492301312
Don't harass Mr. @kaul_vivek , he understands and writes well on other subjects.
This is a warning to the rest of you - don't trust anyone, not even us. Do your own independent research and hope you're not wrong.
Our take - bitcoin is still in the process of *becoming* money, a process described by Menger in 1871 (see page 257 and onwards here)
https://cdn.mises.org/Principles%20of%20Economics_5.pdf