Denationalization of Money

What Hacker News says

1. coinwardFeb 2021
   The valid reason is that Bitcoin is the best money that has ever emerged in human history. The denationalization of money is inevitable and long predicted. Check out Nobel prize winning economist Hayek's Denationalization of Money https://en.wikipedia.org/wiki/The_Denationalization_of_Money
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2. paulgbMar 2022
   > It’s also worth understanding Gresham’s law, which proposes that “bad money drives out good”. Given the choice between two currencies, most people spend the weaker one and hoard the stronger one.

   Eh, that's not really Gresham's law, which applies when there is a fixed (by law) exchange rate between two currencies.

   Quoting Hayek’s Denationalization of Money, “What Jevons, as so many others, seems to have overlooked, or regarded as irrelevant, is that Gresham's law will apply only to different kinds of money between which a fixed rate of exchange is enforced by law.” (Emphasis his)

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3. narratorFeb 2022
   F.A Hayek wrote a book titled "The Denationalization of Money" in the 70s where he predicted that we'd have competing private currencies not tied to any government at some point. Reading Hayek is difficult because he writes in a very intellectually dense style with very long sentences that assume the reader is already familiar with a lot of technical jargon. Here's a more general introduction to some of his ideas on private currencies with footnotes pointing to the source material: https://mises.org/wire/will-cryptos-fulfill-hayeks-vision-pr...
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4. mbrockDec 2017
   Multiple competing privately issued currencies is also a trope of libertarianism; people refer a lot to Hayek's The Denationalization of Money.
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5. DennisPSep 2017
   The only way cryptocurrency would be a straightjacket on the economy is if there were only one cryptocurrency. Actually there are hundreds, and it's trivial to make more. Rather than a digital gold standard, we have a system of competing privately-issued currencies, which Hayek advocated in his book The Denationalization of Money.
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6. narratorSep 2017
   Nobel prize winner F.A Hayek wrote a great defense of deflationary currency and a rebuttal to Keynes back when he was debating Keynes in the 30s[1]. He also predicted Bitcoin with his book "The Denationalization of Money" written in the 1970s[2].

   [1] https://mises.org/library/hayek-paradox-saving

   [2] https://mises.org/library/denationalisation-money-argument-r...

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