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Comment by sova | Hacker News Reader

Could you elaborate on what you mean by Keynesian in 2017?

ideological beliefs about the nature of money (liberals not interested in non-state currencies, and Austrians believing that currencies must have intrinsic value)

https://unenumerated.blogspot.com/2011/05/bitcoin-what-took-...

'must have intrinsic value'

AFAIK one of the main underpinning of the Austrian school is: https://en.wikipedia.org/wiki/Subjective_theory_of_value

You're correct, Austrian school is based on subjective value theory, this is gwern's phrasing not mine. I was in a rush and didn't cite properly, here is the link: http://www.gwern.net/Bitcoin-is-Worse-is-Better

Although to be fair a lot of non-scholarly "Austrians" cite the intrinsic value of gold as what makes it superior to Bitcoin. So he's right in the parlance of common rhetoric.

I also think he is right in that liberals tend to favor keynesianism because it makes it easier for the government to grow.

I'm still not sure what you meant by Keynesian, but that is a nice link to a very thorough discussion about bitcoin from 2011. Supply, Demand, What is Money, and What is Valuable are all unresolved questions even in 2017. The need for money fundamentally stems from needing a way to trade dissimilar goods (like hens for milk). Nations making money is a whole separate issue that has delayed the progress of mankind for millenia

Wow, you're clueless. I bet you'll believe every lie about Keynes and think yourself an expert despite never once picking up a copy of the General Theory.

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