Post
Topic
Board Economics
Re: Bitcoin Economy
by
sana54210
on 12/06/2021, 18:14:50 UTC
The recent Sveriges Riksbank Prize in Economic Sciences or Nobel prize (as commonly known) was actually awarded to an economist (Fama) who claimed that markets are efficient and any prediction of it's movement is fruitless. Isn't the Bitcoin price random too?
Furthermore, we can even fit Robert Schiller's theory into it. There is clearly a long-term trend and crazy volatility. Also, Bitcoin tries modelling the ideal world scenario of no transaction fee as used when designing theory like CAPM.
With such similarities, why isn't research being done in the Bitcoins? There's so little to read. We pretty much end up with Satoshi's paper which is more cryptography and less economics.
There is a good amount of economists who like bitcoin, just because you like current economic system doesn't mean that you have to hate bitcoin or just because you dislike the current system doesn't mean you have to like bitcoin, you can either hate them both or love them both at the same time. The common situation is that economists who like the current system usually hate bitcoin and that is where this stems from but that is not a must, it is just common but not all.

I believe current economic system is a horrible one, but I am neither an economist nor someone to be cared for but I believe what economists say do not matter, they are the ones that caused the current situation and that is why them liking it doesn't really worth anything, and them rewarding something to each other do not mean anything to me neither, if the system is screwed for poor people like me, they can reward each other 10 awards a year and it still sucks for me.