Nobel Prize-Winning Economist Paul Krugman Bashes Trump For Supporting “Economically Useless” Bitcoin

Nobel Prize-Winning Economist Paul Krugman Bashes Trump For Supporting “Economically Useless” Bitcoin
ôîòî ïîêàçàíî ñ : zycrypto.com

2024-8-1 17:45

Long-time cryptocurrency critic and Nobel Laureate economist Paul Krugman has blasted the Republican party’s support for cryptocurrencies, calling Bitcoin (BTC) “economically useless” and a tool for money laundering.

Paul Krugman Still Doesn’t Like Bitcoin

Prominent economist Paul Krugman is still no Bitcoin fan.

Krugman wrote in an opinion piece for the New York Times on Monday that Donald Trump’s Vice president pick, pro-crypto Ohio senator J.D. Vance, is an avatar of “paranoid” Silicon Valley “tech bros,” with whom he shares a common fondness for digital currencies.

Trump’s running mate, Vance, seems to be somewhat of a crypto bull. He holds a small chunk of his $5 million fortune in Bitcoin, valued between $100,000 and $250,000. In 2023, Vance wrote a bill to protect banks from ongoing regulatory pressure to cut ties with crypto platforms.

“The truth is that Bitcoin, which was introduced 15 years ago, an eon in tech time, remains economically useless,” the famed economist said. “A couple of exceptions to its uselessness are money laundering and extortion.”

Former president Trump’s crypto stance has notably evolved from hater to advocate this year ahead of the November elections. Trump has spoken previously about wanting Bitcoin to be made in America, and while speaking at the Bitcoin 2024 conference in Nashville, he announced a plan to hoard a BTC strategic reserve if he retakes the White House.

Krugman described Trump’s Bitcoin stockpile plan as “a government bailout for a scandal-ridden, value- and environment-destroying industry.”

He also ridiculed the Republicans’ vow to “end Democrats’ unlawful and un-American crypto crackdown”. “I’m sure only a tiny handful of voters have the slightest idea what any of that is about,” the die-hard crypto skeptic posited.

Krugman is a longtime crypto naysayer, with his criticism of Bitcoin dating back to 2013 when he penned a piece for The New York Times entitled “Bitcoin Is Evil.” According to the MIT economist, Bitcoin has no legitimate uses or intrinsic value.

There’s just one problem: Krugman also predicted in 1998 that the Internet would be no more important than fax machines. He was wrong about the Internet then, and he’s now wrong about Bitcoin.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Rare Pepe Party (RAREPEPEP) 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 RAREPEPEP

nobel paul krugman economist blasted laureate party

Èñòî÷íèê: zycrypto.com

nobel paul → Ðåçóëüòàòîâ: 28


Economist Who Said The Internet Would Fail Says Crypto Is For Tax Cheats And Criminals

Paul Krugman, who counts winning the 2008 Nobel Prize in Economics among his accolades, slams the crypto industry, saying its only use is for “tax evasion and illegal transactions.” The comments came in reference to a Bloomberg article about the infrastructure bill, which has drawn mounting criticism for various reasons. Including the main gripe for […]

2021-8-28 03:01


Ôîòî:

Op Ed: Debunking Bitcoin Myths: ‘It’s a Ponzi Scheme’

The accusation that bitcoin is nothing more than a Ponzi scheme is perhaps the oldest, longest-standing criticism of the digital bearer asset. The basic idea is that there is nothing of value here and the entire purpose of bitcoin’s existence is to enrich Satoshi Nakamoto and the speculators who bought in for a few pennies or dollars in the early days by tricking others into buying in at a higher price.

2019-6-4 19:03


A Bitcoin Bashing Nobel Economist Expects a Global Recession; Will Crypto Prove Him Wrong?

Noted bitcoin basher and Nobel Prize-winning economist Paul Krugman has warned that the global economy could be headed for a recession this year, according to CNBC. Per Krugman, the recession could occur towards the end of this year or in 2020: I think that there is a quite good chance that we will have a recession late this year (or) next year.

2019-2-12 18:35


ChainXchange Day 2: Thomas Lee, Paul Krugman Discuss Bitcoin Longevity

The second day of Las Vegas Blockchain Week and the ChainXchange blockchain convention has concluded. Today’s activities included discussions and lectures carried out by prominent cryptocurrency supporters and skeptics, including representatives from Ripple and NEM, as  well as Nobel Prize winning economist and perpetual crypto bear Paul Krugman.

2018-8-15 09:10


Ôîòî:

Paul Krugman: Bitcoin Will “Set the Monetary System Back 300 Years”

Bitcoin (BTC)–Bitcoin is again in the headlines being criticized by a Nobel Prize winning economist. Paul Krugman, one of the most accoladed and celebrated economists of our time, has again written in his contribution to The New York Times that Bitcoin fails to constitute money, but could also be responsible for erasing much of the […] The post Paul Krugman: Bitcoin Will “Set the Monetary System Back 300 Years” appeared first on Ethereum World News.

2018-7-31 20:03


Ïàðòíåðû Currencies.ru

Àíàëîã Notcoin - Blum - Èãðàé è çàðàáàòûâàé Ìîíåòû



Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

US Elections 2024: Brace for Impact

With the U.S. presidential election polls showing a tense race, cryptocurrency investors are bracing for volatility. But how important is the outcome of the election for the future of crypto in the medium to long run?, poses Gregory Mall.

Trump-backed WLFI token sale faces platform issues amid strong demand

World Liberty Financial (WLFI), a blockchain venture supported by the Trump family, launched its much-anticipated token sale, drawing immediate interest from nearly 3,000 investors. The sale, which began at 12:40 UTC, saw a surge in demand, with over 344 million WLFI tokens sold within the first hour.