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18 April 2021

Economist paints woeful outlook if Bitcoin were to ever succeed | CryptoSlate

Economist paints woeful outlook if Bitcoin were to ever succeed | CryptoSlate


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London School of Economics teacher Jon Danielsson argues that Bitcoin and fiat currency cannot co-exist.

Danielsson claims the concept of Bitcoin as money makes no sense.

Nonetheless, despite its achievements, it’s fair to say that Bitcoin still attracts its share of hate and skepticism.

Just as retailers do not accept gold, it makes no sense to then say gold will go to zero on that basis.

Bitcoin is a nascent technology that doesn’t fit neatly into classical definitions of money per economic theory.

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