t isn’t every day that University of Chicago economists Eugene Fama and Richard Thaler see eye to eye. Fama, who won the Nobel Prize in 2013, is one of the best known proponents of the efficient market hypothesis. Thaler, in contrast, champions behavioral economics. Indeed, Thaler spends a great deal of time criticizing the efficient market hypothesis in his recent book, Misbehaving.
Both economists, however, seem to be on the same side when it comes to bitcoin. Commenting on Fama’s recent interview with the Bitcoin Uncensored podcast, Thaler tweets: “Must say I agree with Fama here. Only value of bitcoin seems to be to crooks& [sic] tax cheats. Negative social value.”
READMORE : http://www.valuewalk.com/2015/11/is-bitcoin-only-for-crooks-and-cheats/
Both economists, however, seem to be on the same side when it comes to bitcoin. Commenting on Fama’s recent interview with the Bitcoin Uncensored podcast, Thaler tweets: “Must say I agree with Fama here. Only value of bitcoin seems to be to crooks& [sic] tax cheats. Negative social value.”
READMORE : http://www.valuewalk.com/2015/11/is-bitcoin-only-for-crooks-and-cheats/
Just lost all my respect for this new nobel prize winner.Let's reverse that logic "Fiat money is only for loan scammers, fraudsters and money forgers"
Oops, that statement is actually correct
