Post
Topic
Board Bitcoin Discussion
Re: Why do many mainstream economists always oppose Bitcoin?
by
psychic fans
on 16/08/2021, 02:30:45 UTC
Not many, only some.
And the media is only reporting what gets them the more attention. At times like this when price has not made any major moves for more than 2 months the negative articles will get the most amount of attention so obviously they keep quoting those who have said something negative about bitcoin. In a couple of months ago when price was rising consistently every week the exact opposite was true as they published anything that was positive.

Why are these people positive or negative about bitcoin? In my experience it is almost always out of self interest.

Economists oppose Bitcoin for a very important reason. Economists understand the concepts of blockchain and cryptocurrency, but they just have a different world view. Many economists are participants in the monetary policy of sovereign countries and are employed by the government. This is what you say for profit. But the economic policies of mainstream economics have seemed feasible in recent decades, but they are still doomed to fail in the long run. The increasing debt fueled by loose monetary policy is simply unsustainable, because either the debt will not be paid off or the purchasing power of fiat currency will disappear.

There are also some economists who look at this issue objectively


Quote

As Dylan LeClair put it succinctly, "Mathematically speaking, there is no way to escape the current economic environment."