People in the bitcoin community periodically worries about bubbles. The only thing that we can do is figure out cool stuff that you can only do with bitcoin. Other than that, people are encouraged to sell and buy things for bitcoin.
The bitcoin community has thought more about the weakness and strength of the currency, failure modes and solutions to problems more than any critics about bitcoin in the world. It's just that very few bothers writing and publish these knowledge for distribution to the wider public.
Does community have expert economists? I mean the traditional currency markets have been around for quite a while and a lot of really smart people participated in their development. Bitcoin has a small and immature community and there are a lot of things which require certain expertise and experience to judge about correctly.
Does community have expert economists? I mean the traditional currency markets have been around for quite a while and a lot of really smart people participated in their development. Bitcoin has a small and immature community and there are a lot of things which require certain expertise and experience to judge about correctly.
It really depends on what school of economics you followed. If you follow keynesian economic rather than the Austrian, you will have quite different conclusion about the possible failure mode of bitcoin.
Is deflation bad for the bitcoin economy? Most bitcoiners will say no because they don't buy the idea of deflationary spiral and Keynesian economics plus their experience within the bitcoin economy informs their opinion.
A lot of cool stuff is in the pipeline though:
1. A decentralized DNS registration system utilizing bitcoin technology. http://www.bitcoin.org/smf/index.php?topic=6017.0 There's even a 3500 BTC bounty for it: http://www.bitcoin.org/smf/index.php?topic=2072.0
2. GBSE - Global Bitcoin Stock Exchange: Utilize public key cryptography and other tech to create a bitcoin stock market. http://www.bitcoin.org/smf/index.php?topic=5947.0
3. witcoin - a micropayment social media site. http://witcoin.com
The bitcoin community has thought more about the weakness and strength of the currency, failure modes and solutions to problems more than any critics about bitcoin in the world. It's just that very few bothers writing and publish these knowledge for distribution to the wider public.