Bitcoin, Crypto currency, Blockchain

Crypto-skeptics Krugman: “Bitcoin has greater value than Gold”

0bc3f83589afc094c9f23cf29b975a85 - Crypto-skeptics Krugman: "Bitcoin has greater value than Gold"

The Nobel laureate Paul Krugman has commented Often skeptical of crypto currencies. So he can see it in Bitcoin & co. no currencies. Now he has to beat with a new statement with a different tone and, at least in the Bitcoin of more Benefit than Gold awarded.

BTC-ECHO recently reported in the context of the freedom of expression echoes Paul Krugman’s skepticism about crypto-currencies. On the Blockchain-conference chain XChange in Las Vegas, the Professor of Economics at Princeton University and Nobel prize-winner has participated in a discussion with the Fund strate-co-founder of Tom Lee, and Ripples chief marketing strategist Cory Johnson. The topic of the future of money. His statements leave the impression that to get into rails, his doubts on Bitcoin, the cracks.

Gold is dead – the Bitcoin live

Blatantly jug man stressed that he had not looked at the entire crypto currency industry. So he had no idea of Smart Contracts, yet he did not know in detail what it did with the Blockchain technology. Instead, he had set himself to grips with how Bitcoin works. Therefore, this is the only crypto currency that he didn’t understand the half of it. In addition, he gained an important insight:

“Gold is dead […] Bitcoin has greater value than Gold. There is a Chance for Bitcoin to be worth in the future.“

However, Bitcoin compared to Fiat currencies, has a significant disadvantage: the transaction costs. If these fees would be reduced, which could eliminate, however, its primary resistance to crypto currency.

In his recent New York Times comment appeared on Krugman gives further insight in his skeptical way of thinking. He condemned the current use of Bitcoin & co.:

“Eight years after the launch of Bitcoin crypto-currencies have taken very little impact on the actual trade. Some companies will accept them as a means of payment, but my feeling is that it’s more about signaling […] as to the actual Use. Crypto-currencies have a huge market valuation, but they are mainly kept as objects of Speculation, not because they are as a medium of exchange useful.“

Thus, the (former) crypto-skeptics speaks to what we already know for a long time: crypto-currencies to be used, in order, finally, in the Mainstream, to arrive and to be able to wide acceptance.

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