This Nobel Prize Winning Economist Wants An End To Cryptocurrencies

2019-5-6 17:15

Nobel Prize Winning Economist Wants an End to Cryptocurrencies

A renowned Nobel Prize-winning economist Joseph Stiglitz has joined the league of those advocating for the shutting down of cryptocurrencies. He says cryptocurrencies allow illegal activities by making transactions untraceable and should be shut down.

Although he is in support of the use of an electronic payment system like blockchain, he is not convinced that Bitcoin (BTC) or any other cryptocurrency is the method that should be used. He said:

“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.”

Stiglitz who has held several key positions including Chief Economist at World Bank and currently a professor of economics at the University of Columbia said cryptocurrencies move value off transparent platforms to dark platforms that encourage illicit activities.

Another economics professor and Nobel Prize winner Nouriel Roubini has also been a firm critic of Bitcoin and cryptocurrencies in general. The professor who has repeatedly said Bitcoin will have a bad ending has several times also advocated for shutting down of cryptocurrencies.

During the cryptocurrency bear market in 2018, Roubini said Bitcoin would not recover from the crash and was going to zero “where it belonged.” He has spoken in several functions against cryptocurrency and is still an ardent hater of Bitcoin.

There are several other crypto haters such as Warren Buffet and Charlie Munger who have called in the industry several names. However, it seems the industry keeps gliding along. The 2018 bear market though not fully over, has shown signs of its end and Bitcoin has been predicted to lead a bull market in the coming months.

Bitcoin is currently fighting to break through a major resistance that will bring it to $6,000 and from there, a major bull run is expected. Although some analysts say there may be a correction before a breakout, Bitcoin has held onto its over $5,500 price level.

Can the cryptocurrency industry be shut down on the recommendations of the economics professors? Let us know what you think.

The post This Nobel Prize Winning Economist Wants An End To Cryptocurrencies appeared first on ZyCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Arab League Coin (ALC) íà Currencies.ru

$ 0 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.00 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Äîñòóïíî / Âñåãî 0 ALC

cryptocurrencies economist nobel prize wants winning down

cryptocurrencies economist → Ðåçóëüòàòîâ: 52


Ôîòî:

Ethereum’s Vitalik Buterin Talks About Big Challenges Ahead For Cryptocurrencies

Ethereum’s Vitalik Buterin has said that blockchain technology and digital currency have at least a few more bigger challenges left until they can finally reach a mainstream appeal. Buterin sat down the economist Tyler Cowen in a new interview whist explaining that scalability and making it easier for the users are imperative for the success of new technology.

2018-7-19 16:30


Regulations Will Be the Death of Bitcoin, Says Nobel Laureate Economist

Speaking with NBC’s Financial News on Monday, Columbia University professor and Nobel Prize-winning economist Joseph Stiglitz spoke disparagingly of Bitcoin and other cryptocurrencies. Among the interview’s biggest highlights are Stiglitz’s comments about the risks of Bitcoin’s anonymity and his assertion that regulatory agencies may possibly “use the hammer” to prevent cryptocurrencies’ further growth.

2018-7-11 01:10


The hitch-or-ditch of crypto should be decided by marketplace, says Economist Ron Paul

Ron Paul, the famous libertarian and economist, recently released a paper titled ‘The Dollar Dilemma’ that explores the relationship between centralized infrastructure of the economy with the world. The paper outlines the disaster that our monetary system has become in today’s date, and suggests that coupling precious metals with cryptocurrencies could be the efficient tool to […]

2018-7-2 20:18


Ron Paul points out that ‘Cryptocurrencies and Precious Metals Can Co-Exist.’

Economics Just recently the notorious libertarian and Austrian economist, Ron Paul, released a paper that discusses the world’s issues with central economic planning. In Paul’s latest paper, The Dollar Dilemma, he details just how bad the monetary system is today, and explains how precious metals and cryptocurrencies can co-exist to help fight against the decaying

2018-7-2 06:54