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14 December 2019

Two Economists. Two Views on Bitcoin's Ability to Disrupt Fiat Money

Two Economists. Two Views on Bitcoin's Ability to Disrupt Fiat Money


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With economist George Selgin arguing in favor of this resolution, while “The Bitcoin Standard” author and economist Saifedean Ammous argued against.

He pointed out that it’s hard for people to find a store that even accepts the cryptocurrency?

He went on to argue that bitcoin is not generally the answer people come away with when thinking about these questions.

Ammous, on the other hand, argued that while bitcoin isn’t perfect, it continues to grow quite rapidly.

While Selgin argues it is hard to find a store that accepts bitcoin, Ammous argues that’s because use is spread across the whole globe, rather than being restricted to just one nation.

“The idea that bitcoin has to be born ready to handle everybody’s transactions overnight and to have all the world’s liquidity to do it overnight from its creation – or else it has failed – I think that’s a completely unrealistic way of assessing it.

He pointed out that other moneys have been replaced with newer ones over time

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