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Wednesday

23 June 2021

Top Economist Calls Bitcoin As Legal Tender “Stupid”. Here’s why he’s wrong.

Top Economist Calls Bitcoin As Legal Tender “Stupid”. Here’s why he’s wrong.


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Top Economist Calls Bitcoin As Legal Tender "Stupid".

If one person uses an asset to safeguard his wealth, then it’s a store of value?

The question then is, is Bitcoin an effective store of value.

Well, considering it’s the only commodity in the history of the earth that presents absolute scarcity, it’s probably a safe bet.

To add credibility to the argument, let’s quote Saifedean Ammous’ “The Bitcoin Standard”:.

To put it differently, Bitcoin is the cheapest way to buy the future, because Bitcoin is the only medium guaranteed to not be debased, no matter how much its value rises.

If there’s a place in which small Bitcoin transactions are an everyday thing, it’s this one.

We could include the incredible amount of Bitcoin transactions that the virtual world sees every day, but there’s no need.

Let’s quote “The Bitcoin Standard” once again:

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