This guy may have made sense, though I suspect he's a Democrat. Apart from early holders making a killing off Bitcoin, how has it benefitted the world economy? Your opinion though...
Nobel Prize-winning economist Paul Krugman said that Tech-bro's support for Trump and Vance seems to be related to cryptocurrency/ He said that in reality. Bitcoin is still economically useless and useful just for money laundering and extortion. He described Trump's call for the creation of some kind of national Bitcoin reserve as equivalent to the government rescuing a scandal-ridden, value- and environment-destroying industry.
https://www.nytimes.com/2024/07/29/opinion/vance-trump-cryptocurrency.html
Nobel Prize-winning economist Paul Krugman said that Tech-bro's support for Trump and Vance seems to be related to cryptocurrency/ He said that in reality. Bitcoin is still economically useless and useful just for money laundering and extortion. He described Trump's call for the creation of some kind of national Bitcoin reserve as equivalent to the government rescuing a scandal-ridden, value- and environment-destroying industry.
https://www.nytimes.com/2024/07/29/opinion/vance-trump-cryptocurrency.html
I seriously disagree with him. Especially about the "money laundering and tax evasion" part. Fiat currencies are the #1 means for criminals to perform illicit activities. Why would they break the law on a transparent public blockchain network? They would easily get caught by the authorities. The "Nobel Prize-winning economist" doesn't know what he's talking about. Although, I admit that Bitcoin is being used more as a store of value than a currency. We can blame market volatility, high network fees, and limited supply for this. Not even the LN helps.
Trump is smart by embracing the revolution. Haters will lose as Bitcoin takes over the world by storm. We can say goodbye to people like Paul Krugman, Jim Cramer, Elizabeth Warren, and Warren Buffet for good. "He who laughs last, laughs best". Right?
