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 Bitcoin is the worst currency for money laundering because blockchain is an open book and every transaction is listed publicly. Also, blockchain analysis technologies are advanced in tracing and if anyone tries to launder money, they are usually traced and discovered.
Paul Krugman has no idea what he is talking about and that's a huge problem with many famous people. Bitcoin has many benefits and one of them is the decentralization of this currency, it gives you the possibility to be your own bank and it also solves the problem of trusting a 3rd party while making transactions online. Isn't this a revolutionary?
I do not expect a nobel prize-winning economist to say something like this. They will not know anything about bitcoin but prefer to start misinforming people and feeding them with wrong information.
I think that they are either:
1. Bored.
2. Have their own interests.
3. Someone pays them to say stupid things about Bitcoin.