Quote from: Marykeller on August 11, 2024, 04:03:29 PM

Quote from: ContentWriter on July 30, 2024, 08:16:43 PM

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

This is a scrapped reasoning for one who doesn't know what Bitcoin stands for and aims at.

As I have had so many useful financial encounters with Bitcoin, I can't follow others to give a condemnable remark on Bitcoin all because people are using Bitcoin for money laundering and extortion. That would be so weird of me

What I can deduce from this, people easily give negative remarks about Bitcoin when they fall victim to a scam or hear news of how people use it wrongly. They will hate it because of that, without trying to know other useful part of it of how it has helped people's financial status.

Nevertheless, the opinion of economist, Paul Krugman doesn't count and it doesn't have any single weight to disrupt Bitcoin from reaching its goal of being widely accepted globally in the future

This goes beyond that, economists are part of the system and most of them do not see how the economy could work other than by employing the same concepts governments implement right now, so bitcoin that does not follows those principles is alien to them, and if we add that many governments still view bitcoin with suspicious eyes due to its nature, then it is obvious the majority of the economists will be against it too, so I am not surprised when reading someone like him making those kind of statements.