[2018-07-10] Joseph Stiglitz says BTC could drop to 100$ - page 2.

IBXNetwork

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Quote from: NeuroticFish on July 11, 2018, 08:42:04 AM

Wow. Another "economist" talking. The extracted statements show that he clearly didn't understand anything about Bitcoin.
And his logic is flawed. So Bitcoin is bad - for reasons he didn't understand and obviously cannot explain - but US should move to digital currency - whatever he thinks he understood what that could be

Exactly this is what I meant. The guy calls for bright future on digital currencies, but for any reason, not for Bitcoin Huh

Why could that be? Maybe his Stiglitzstein and Josephbergs in the federal reserve are not liking that much a currency they don't issue and have not control over it...

gentlemand

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Could be $100 million too.

And what on Earth is this blathering about anonymity? Has he even bothered to peruse a pamphlet or two? There ain't no secrecy I can see. Are there many or any things less transparent than existing finance?

jjacob

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This reminds me of Professor Bitcorn, who famously predicted that Bitcoin will trade for under $10. It is next to impossible to get Bitcoin’s price right, but these so called experts go ahead and make outrageous predictions. History will not be kind to them.

NeuroticFish

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Quote from: IBXNetwork on July 10, 2018, 09:45:14 PM

So yeah this keynesian piece of economist calls for a Bitcoin completely destroyed...

“You cannot have a means of payment that is based on secrecy when you’re trying to create a transparent banking system. If you open up a hole like bitcoin then all the nefarious activity will go through that hole, and no government can allow that.”
“People in power will move to regulate anonymous transactions. That you can be sure of. Bitcoin could easily be worth just $100 in 10 years.”
“I believe very strongly that countries like the United States could and should move to a digital currency … so that you would have the ability to trace this kind of corruption.”

https://ambcrypto.com/bitcoin-btc-may-drop-100-nobel-prize-laureate/

Wow. Another "economist" talking. The extracted statements show that he clearly didn't understand anything about Bitcoin.
And his logic is flawed. So Bitcoin is bad - for reasons he didn't understand and obviously cannot explain - but US should move to digital currency - whatever he thinks he understood what that could be

Betwrong

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I stand with Ukraine.

This is a very strange statement for an economist. "Bitcoin could easily be worth just $100 in 10 years.” Seriously? Why not $2 then? Basically he's saying that no government can allow using of crypto currencies by their citizens, but it contradicts to what is happening in reality. Governments are more and more inclined to making a better environment for crypto usage, that’s not to mention that Bitcoin is absolutely legal in most countries already. Unfortunately for him, Joseph Eugene Stiglitz is too old for understanding and accepting such progressive things like Bitcoin. And I don't mean his chronological age, which is 75, but rather his state of mind which can be seen from his statements.

1Referee

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There is no such a thing as transparent banking system for the user, only for banks and governments, all to extract details concerning your financial activity, to prevent you from spending your money the way you want, and to use that data against you in other departments of the government. By getting rid of cash, they force you to use plastic payment methods and apps; no one will be able to enjoy freedom anymore, and all payments will reflect that because people are afraid of doing something the government doesn't like. It's called sneek censorship.

Bitcoin on its own is open as well, so you have to be a little bit more careful where and what you spend (to prevent that using a mixer is recommended), but that through LN won't be much of a problem anymore.

Bitcoin in 10 years could be worth $100 or $1,000,000 where the latter is the more likely scenario.

IBXNetwork

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So yeah this keynesian piece of economist calls for a Bitcoin completely destroyed...

“You cannot have a means of payment that is based on secrecy when you’re trying to create a transparent banking system. If you open up a hole like bitcoin then all the nefarious activity will go through that hole, and no government can allow that.”
“People in power will move to regulate anonymous transactions. That you can be sure of. Bitcoin could easily be worth just $100 in 10 years.”
“I believe very strongly that countries like the United States could and should move to a digital currency … so that you would have the ability to trace this kind of corruption.”

https://ambcrypto.com/bitcoin-btc-may-drop-100-nobel-prize-laureate/

Topic: [2018-07-10] Joseph Stiglitz says BTC could drop to 100$ - page 2. (Read 344 times)