http://www.bloomberg.com/news/2013-12-04/greenspan-says-bitcoin-a-bubble-without-intrinsic-currency-value.html
Former Federal Reserve Chairman Alan Greenspan said Bitcoin prices are unsustainably high after surging 89-fold in a year and that the virtual money isnt currency.
Its a bubble, Greenspan, 87, said today in a Bloomberg Television interview from Washington. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I havent been able to do it. Maybe somebody else can.
The man who was the most wrong about everything in economics with the possible exception of every other Fed chief says Bitcoin is a bubble and has no intrinsic value.
We must be on to something here.
Former Federal Reserve Chairman Alan Greenspan said Bitcoin prices are unsustainably high after surging 89-fold in a year and that the virtual money isnt currency.
Its a bubble, Greenspan, 87, said today in a Bloomberg Television interview from Washington. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I havent been able to do it. Maybe somebody else can.
The man who was the most wrong about everything in economics with the possible exception of every other Fed chief says Bitcoin is a bubble and has no intrinsic value.
We must be on to something here.
So if Greenspan is wrong about everything else, that automatically disqualifies him as giving a valid opinion on BitCoin? What if he is right, have you considered that, or does that not fit in with your worldview?
No but the fact that probably he doesn't know what he is even talking about it does.
I bet someone told him that bitcoin is an online currency that no central authority controls or issues and he decided that it's a bubble.
In any case time will tell
