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Because nobel prize winners polemics against Bitcoin (ie Krugman) are even less well argued than this. Bottom line, Bitcoin is a very different beast than ever
by ur-whale 6y ago
Because nobel prize winners polemics against Bitcoin (ie Krugman) are even less well argued than this.
Bottom line, Bitcoin is a very different beast than everything that's existed before in finance, and "experts" poorly reasoned opinion carry barely more weight than this article.
The truth is, no one knows what Bitcoin will become, because it's the first of its kind.
When the dust settles, the survivor opinion will - of course - write a book and become famous selling the bedazzled masses a lengthy, sophisticated "I told you so".
- cableshaft 6y agoUgh Krugman, has there ever been an economist that's been more consistently wrong about the economy? I'm seriously tempted to do the opposite of whatever this guy says.
- ur-whale 6y agoIt's indeed very hard to take Krugman seriously (e.g. [1]). But unfortunately, some people in power have been doing just that, especially on the topic of (to make it simple) govt taking on more debt because it's "good for the economy long term". Krugman is the worst kind of evildoer : someone promoting a radical left wing agenda disguised as an academic. Even though the seams of the disguise are blatantly obvious, people in power are either too blind to see, or too happy to find an "expert" voice backing up their demagogue agenda as long as gets them re-elected for a second term. [1] https://www.laphamsquarterly.org/revolutions/miscellany/paul-krugmans-poor-prediction https://www.laphamsquarterly.org/revolutions/miscellany/paul...
- Acrobatic_Road 6y agoKrugman was one of the academics that signed on to the letter to cancel Steven Pinker. Nobody should take him seriously.