Bits of Krugman

Krugman catches up with me on Bitcoins and comes to pretty much the same conclusions in fewer words. Hey, he’s been blogging and writing and talking about economics longer than I have so that’s ok.

I haven’t seen the data myself, but he points to declining value of transacations as people hoard Bitcoins – exactly what is expected and exactly the catastrophic result that makes Bitcoins a really bad idea for a monetary system.

Published by David Kirk

The opinions expressed on this site are those of the author and other commenters and are not necessarily those of his employer or any other organisation. David Kirk runs Milliman’s actuarial consulting practice in Africa. He is an actuary and is the creator of New Business Margin on Revenue. He specialises in risk and capital management, regulatory change and insurance strategy . He also has extensive experience in embedded value reporting, insurance-related IFRS and share option valuation.