Bitcoin Cyber Geeks Outraged at Paul Krugman‎

Bitcoin Cyber Geeks Outraged at Paul Krugman‎

It’s quite common for liberal economist Paul Krugman to ruffle the feathers of Republicans with his Keynsian-infused biweekly columns. But today, The New York Times columnist rattled a more obscure subset of society: the reclusive cyber geeks of the Bitcoin world, who are letting their outrage be known. For the uninitiated, Bitcoin is a digital currency that can be exchanged for goods and services at participating vendors (for practical purposes, there are very few well-known organizations that accept them outside of WikiLeaks). What does Krugman think of this novel currency, which has no transaction fees and doesn’t rely on a central bank? After championing it as a “good investment” (its value has “soared” in comparison with the dollar), he dismisses the currency as a workable model for society:

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