tag:blogger.com,1999:blog-7756920.post365046084835413348..comments2024-01-08T06:21:35.864-08:00Comments on Notes in Samsara: Money, Bitcoin, and bad economicsMumon Khttp://www.blogger.com/profile/01116967568502451788noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7756920.post-21122762122896338912014-01-02T00:45:13.505-08:002014-01-02T00:45:13.505-08:00Thanks for this, Mumon. I've always followed m...Thanks for this, Mumon. I've always followed my father's advice that if joe sixpack is suddenly jumping on the investment bandwagon, then it's probably not a good idea to follow (or get off). I saw a similar excitement in property in 2007-early 2008 and in gold in 2010... <br /><br />As a student of Buddhist ethics, the rapid rise in value of any item, and the concomitant speculation that follows, is deeply worrying. If bitcoin or anything else is to hold value and allow free exchange, that is fine, but rapid fluctuation creates winners (people who have vast wealth with no effort) and losers (people who have lost vast wealth by no fault of their own). <br /><br />As much as there is a "Buddhist economics" this sort of thing seems clearly contrary to it. Buddhist_philosopherhttps://www.blogger.com/profile/14246929532585980356noreply@blogger.comtag:blogger.com,1999:blog-7756920.post-63418749690278495142014-01-01T14:46:55.882-08:002014-01-01T14:46:55.882-08:00Also see this bit onKrugman's blog: http://kr...Also see this bit onKrugman's blog: http://krugman.blogs.nytimes.com/2013/12/29/an-ubernerd-weighs-in/Mumon Khttps://www.blogger.com/profile/01116967568502451788noreply@blogger.com