Joseph Stiglitz: ‘We should shut down the cryptocurrencies’ - page 5.

crzy

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Quote from: Febo on May 06, 2019, 12:37:27 PM

Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. He worries that they enable illicit activity by making money transactions less transparent.

Still, he sees the value in digital payments systems and supports electronic use of government-backed currencies like the dollar.

“I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending,” he says.

https://www.cnbc.com/2019/05/02/joseph-stiglitz-we-should-shutdown-the-cryptocurrencies.html

He’s already talking about the transparency and blockchain technology have all the datas in real time. I don’t know if he just one to promote his upcoming books on what but I’m not convinced with this guy. Cryptocurrency will never be shutdown, it will make the economy grow and that’s the future.

shield132

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Ah, seems soon that will be pain in ass for you? hmm, people don't want that much control from goverments and all you do is piece of shit. Printing money which causes inflation which we have to pay. But you have a great time while ruining things.
Now, this must be clear, the harder you try (ban btc and others), the stronger push will be because such actions always perform like hydra. You close one gait (bitcoin) for a while but there will be another attempt but this time it will be much powerful. Ban bitcoin and altcoins, this will last for a while but they'll return in anyway.

xvids

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Quote from: Spaffin on May 06, 2019, 01:53:34 PM

Quote from: Febo on May 06, 2019, 12:37:27 PM

Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. He worries that they enable illicit activity by making money transactions less transparent.

Still, he sees the value in digital payments systems and supports electronic use of government-backed currencies like the dollar.

“I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending,” he says.

https://www.cnbc.com/2019/05/02/joseph-stiglitz-we-should-shutdown-the-cryptocurrencies.html

If Stiglitz recognizes the value and advantages of cryptocurrency, then to conclude that cryptocurrency needs to be banned because many people use them for illegal purposes, it is not entirely logical. Now in Europe and other states acts of terrorism and other crimes are committed with the help of cars. In road accidents, hundreds of thousands of people die every year in the world. However, it never occurred to anyone to ban cars. Virtually every human invention can be used for both positive and negative purposes. Even one of the very first skills of a man - to make fire, is always used as both good and evil.

It is true everything could be used for good or bad things it all depends on us,
On how are we going to use it .
Even the cash or Fiat is being used by illicit activity for so long money laundering,Drugs,illegal weapon and all sorts of stuff are happening into Fiat before crypto was born.

Ailmand

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People have chosen cryptocurrency because we could transact anonymously here without exposing any data.
Financial freedom is what we love about cryptocurrency and it's the edge of it from the usual transactions that we have through fiat. In fact, cryptocurrency is actually making the economic growth better so I don't get the point of shutting it down and it sounds like they want to control it.

vv181

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Quote from: Febo on May 06, 2019, 12:37:27 PM

~
“I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending,” he says.
~

Quote from: Beerwizzard on May 06, 2019, 01:36:45 PM

~ he is not totally aware of all features of cryptocurrencies. ~

It's way worse than unknowing the feature of cryptocurrencies instead he is a damn humanless people who don't care about basic human rights which is privacy. I bet his thought is if any centralized entities have full control and awareness it would simply fix bad things. That is an absolutely bizarre opinion.

Cryptocurrencies especially Bitcoin has done right to give us financial privacy and freedom which I believe it is a human rights.

Ozero

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Quote from: Spaffin on May 06, 2019, 01:53:34 PM

Quote from: Febo on May 06, 2019, 12:37:27 PM

Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. He worries that they enable illicit activity by making money transactions less transparent.

Still, he sees the value in digital payments systems and supports electronic use of government-backed currencies like the dollar.

“I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending,” he says.

https://www.cnbc.com/2019/05/02/joseph-stiglitz-we-should-shutdown-the-cryptocurrencies.html

If Stiglitz recognizes the value and advantages of cryptocurrency, then to conclude that cryptocurrency needs to be banned because many people use them for illegal purposes, it is not entirely logical. Now in Europe and other states acts of terrorism and other crimes are committed with the help of cars. In road accidents, hundreds of thousands of people die every year in the world. However, it never occurred to anyone to ban cars. Virtually every human invention can be used for both positive and negative purposes. Even one of the very first skills of a man - to make fire, is always used as both good and evil.

Yes, if we avoid everything that can be used by a person to the detriment of him, then we can return to the Stone Age. Although the stones used by primitive people to kill their own kind. In the Middle Ages for objectionable inventions burned at the stake. Can we go back to using this method? It is obvious that the method of prohibiting technical progress has never been effective. Cryptocurrency will not be able to stop anyone.

Adriano2010

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Means he don't know how blockchain work and how all transaction are visible, the most illicit activities are made with cash money, if they will use crypto they can be traced more easy and on the end someone can find where they cashout crypto.

Spaffin

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Quote from: Febo on May 06, 2019, 12:37:27 PM

Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. He worries that they enable illicit activity by making money transactions less transparent.

Still, he sees the value in digital payments systems and supports electronic use of government-backed currencies like the dollar.

“I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending,” he says.

https://www.cnbc.com/2019/05/02/joseph-stiglitz-we-should-shutdown-the-cryptocurrencies.html

If Stiglitz recognizes the value and advantages of cryptocurrency, then to conclude that cryptocurrency needs to be banned because many people use them for illegal purposes, it is not entirely logical. Now in Europe and other states acts of terrorism and other crimes are committed with the help of cars. In road accidents, hundreds of thousands of people die every year in the world. However, it never occurred to anyone to ban cars. Virtually every human invention can be used for both positive and negative purposes. Even one of the very first skills of a man - to make fire, is always used as both good and evil.

Beerwizzard

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Seems like this guy is talking about traditiolan cryptocurrencies and he is not totally aware of all features of cryptocurrencies. It seems like if he is advocating electronic payment systems that use USD then I would like to see him critisizing government-backed cryptocurrencies from his position.
Some crypto dollar might be backed by fiat dollar and government would be able to see all transactions on blockchain. So this guy probably doesn't know that he can use some features of crypto with traditional money.

Febo

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Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. He worries that they enable illicit activity by making money transactions less transparent.

Still, he sees the value in digital payments systems and supports electronic use of government-backed currencies like the dollar.

“I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending,” he says.

https://www.cnbc.com/2019/05/02/joseph-stiglitz-we-should-shutdown-the-cryptocurrencies.html

Topic: Joseph Stiglitz: ‘We should shut down the cryptocurrencies’ - page 5. (Read 961 times)