Paul Krugman shyts on bitcoin

[ExodusNirvana]

By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's. - Krugman in 1998
http://en.wikiquote.org/wiki/Paul_Krugman

I actually agree with Krugman, but I'm not sure he has much authority as it relates to technology and finance.

This dude really said that??? By 98 I was fukking AMAZED at where computer tech was and I knew that there was only one way to go but up. This dude must have been like one of 5 people in America who thought this shyt lol

 

[Domingo Halliburton]

for you quoting that krugman quote it sounds like he called the tech bubble.

 

[无名的]

like actually cashed out USD?

what if your business gets big and you find out how illiquid these bitcoin markets are?

and how do you conduct business with this shyt as volatile as it is?

Yes, but it wasn't from accepting it through my business. Just bought and sold, and really, I'm part of the problem right now. Too many people trying to make a quick buck and too much volatility based upon usually bad news in a panic-driven market without much confidence even by Bitcoin investors.

I'm sure there are programs or there will be programs to automatically process a Bitcoin deposit into currency.

The whole concept will ride or die on how governments attempt to regulate it and how many businesses start accepting it. For now, it's just a bubble ready to burst.

I'd really hate to see it die though.

 

[Domingo Halliburton]

Yes, but it wasn't from accepting it through my business. Just bought and sold, and really, I'm part of the problem right now. Too many people trying to make a quick buck and too much volatility based upon usually bad news in a panic-driven market without much confidence even by Bitcoin investors.

I'm sure there are programs or there will be programs to automatically process a Bitcoin deposit into currency.

The whole concept will ride or die on how governments attempt to regulate it and how many businesses start accepting it. For now, it's just a bubble ready to burst.

I'd really hate to see it die though.

when's brady hoke getting fired?

 

[Dusty Bake Activate]

We need a :smugkrugman: smiley for whenever libertarians take an L.

 

[ogc163]

 

[Slystallion]

boy was he wrong

 

[Slystallion]

wish @Mephistopheles would come back

so many great posters who don't post here anymore

 

[FAH1223]

I'm about to tweet at him and put Max Keiser on it

 

[ogc163]

What Bitcoin Critics and Supporters Around the World Have to Say About Crypto

 

[Futuristic Eskimo]

boy was he wrong

Nothing he wrote has been debunked by a bunch of price-action chasing stay at home traders pushing the price up to where it is. Explain what has changed in the underlying value of bitcoin (or what the underlying value even is) in the past year to warrant its 10x move other than pure speculation ?

 

[BigMoneyGrip]

Be mad when you didn’t get on the bitcoin wave in 2010 and now hatin cause it passed $10,000 a coin brehs

 

[Slystallion]

Nothing he wrote has been debunked by a bunch of price-action chasing stay at home traders pushing the price up to where it is. Explain what has changed in the underlying value of bitcoin (or what the underlying value even is) in the past year to warrant its 10x move other than pure speculation ?

I'll be honest I don't know much about cryptocurrency other than it is incredibly volatile. I do know that bitcoin is a finite commodity that at some point will be maxed out and once something is not obtainable anymore it's value will continue to go up but it honestly depends on how much the retail markets actually use it. One hacking scare can tank the whole value vs say if Amazon starts taking it then it becomes something that is here to stay.

If you have money you don't need and want to put it away for a decade it wouldn't be a bad idea to have a very small percentage of your portfolio in crypto or bitcoin but people shouldn't put their life savings into it.

 

[Futuristic Eskimo]

I'll be honest I don't know much

Should've stopped writing there.

 

[Dr. Acula]

Basically any “establishment” economists shytting on bitcoin are either doing two things.

Either they are feeling their normal institutions and norms being threaten by this currency they can’t control and will never accept it because their self interest is at stake.

Or they are purposely using their credentials to try and spread doubts about the market and drive the price down to buy some on the sly.

Crypto currency will have crashes and has had some before. Bit coin went up to 36 dollars I think in 2011 only to drop down to .08 dollars later that year. But even if bitcoin dies, the cryptoMarket is here to stay and will be replaced by something else.