Crypto Skeptic Paul Krugman Says Bitcoin (BTC) Has More Utility Than Gold

onthehook8 (72)in #bitcoin • 7 years ago

When comparing Bitcoin’s utility compared to fiat, Krugman says his major issue is the cost of transactions used to transfer BTC. He believes if those fees were reduced, that would remove his primary opposition to cryptocurrency.

Another confusing article about Paul Krugman, a confused guy, I scratch my head when I read quotes from this guy. Not too long ago he said that 'Bitcoin Sets Monetary System Back 300 Years', now he's saying that if transaction costs were lower, he'd be ok with crypto. What?!? This guy makes no sense to me. I don't think there's much debate that transaction costs are going to go lower in the future. He hedging his call, wants to say he was right no matter what happens, lol. He should be a politician. I guess he kind of is, being an economist....

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When comparing Bitcoin’s utility compared to fiat, Krugman says his major issue is the cost of transactions used to transfer BTC. He believes if those fees were reduced, that would remove his primary opposition to cryptocurrency.

#krugman #gold #investing #money

7 years ago in #bitcoin by onthehook8 (72)

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onthehook8 (72) 7 years ago

Bitcoin still around $6450, not bad, creating some type of floor in the price, at least short term

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kayba6107 (34) 7 years ago

absolutely

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nutritree (1)(1) 7 years ago

Sounds like someone needs to learn about a new crypto. Stay #dashy

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onthehook8 (72) 7 years ago

I don't follow as close as you appear to but Dash has to be a buy at $140, right?

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rhyscn (49) 7 years ago

I guess it depends on your definition 'utility'. Gold has use cases outside of store of value, you can argue BTC does as well (payments), however gold is the world standard which carries intrinsic value. I can still see BTC disrupting gold however.

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