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My question is why would a highly publicised economist like schiff with a great reputation keep saying these things ,I would love him to explain how is it even possible to honestly with a straight face say these silly statements .
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He does not understand bitcoin completely yet. Like many libertarians, he is locked up in the intrinsic value controversy. Austrian economics requires the money stuff to have intrinsic value. It was Mises who expressed it with his regression theorem. Bitcoin has no intrinsic value. Gold glitters.
We think either it doesn't matter, or that there is a miniscule intrinsic value, enough to satisfy the requirement.