Nobel laureate economist Paul Krugman, one of the most frequent critics of Bitcoin (BTC), seems to have changed his mind. Now Paul Krugman has stopped predicting that Bitcoin will "disappear". Here are Paul Krugman's Bitcoin comments ...
Nobel Prize Winning Economist: I stopped predicting that Bitcoin will "disappear"
Nobel laureate economist Paul Krugman claims that he can no longer predict that Bitcoin will disappear anytime soon. According to Paul Krugman, who emerged as one of Bitcoin's loudest rivals in 2011, the cryptocurrency tends to win when under severe pressure. For example, Paul Krugman tweeted about the time when the leading coin dropped to $ 3,200 on December 14, 2018.
In his new tweet, Paul Krugman argued that Bitcoin by nature has no basis to discuss. However, Paul Krugman said that as a result, he stopped predicting an impending death for BTC. First, Paul Krugman argues that BTC is not a new innovation. Here are Paul Krugman's Bitcoin comments:
"It's been around since 2009, and it seems like no one has found a good legal use for it all this time. It's not a viable exchange tool, it's not a stable store of value, it's definitely not a unit of account. But I stopped guessing that death would be near. It seems that there is always a new group of believers emerging. Perhaps consider this a cult that will last forever."
Why does the value of Bitcoin (BTC) come from? Here are the economist's comments on Bitcoin
Later Paul Krugman argued that the value of Bitcoin is based on the perception that "it is a technologically sophisticated way of protecting yourself from the inevitable collapse of fiat money that will come one of these days, or perhaps one of these centuries."
According to Paul Krugman, the cult-like cryptocurrency can always manage to find new believers who will keep it alive forever. Still, Paul Krugman argues that Bitcoin has not had a legitimate use case design since 2009. As it is known, BTC recently dropped to $ 30,000 before witnessing a strong recovery.
------------------------------------------------------------------------------------------
The information provided on this blog does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the video's content as such. Coin News Buzz does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions. For communication: [email protected]
Write post Edit Blog Delete Blog
