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.