Some Economists Really Hate Bitcoin
The vast majority of economists seem to have a serious distaste for Bitcoin. Whenever an economist who has received a Nobel Prize, teaches at an Ivy League school or works at a central bank comments on Bitcoin, they always seem to have something negative to say about the technology. Some of these individuals simply say that Bitcoin has no future....
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Why Do Banks Hate Bitcoin? Banks have been a part of our society for so long that we have forgotten what exactly they do. We think of them as bastions of security and stability. They hate Bitcoin because of it's inherent instability, right? Wrong. There is more to this than meets the eye. Economists are now asking the question: Do we need banks? The answers they are coming up with is somewhat surprising. There is a misunderstanding out there, of the role of banks today and, in particular, where all the money they loan out, comes from. The Bank of England recently published a paper called....
When it comes down to figuring out the next logical step in the evolution of our society, there are a lot of different factors to take into consideration. One thing most rational people will agree on, however, is that there is a clear need for developers and engineers. Economists, on the other hand, are not required for the time being, as humans are perfectly capable of making their own decisions. Bitcoin is a clear example of why engineers are far more valuable than economists. To be more precise, engineers are more useful than economists at this stage in our society. That is not to say....
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Modern economists are often vehemently opposed to bitcoin and its application as money - why is this?
While the Bank of Tanzania (BOT) executives continue to reiterate the central bank’s willingness to heed the government’s call to prepare for cryptocurrencies, some economists insist Tanzania lacks the resources needed for it to adopt such digital currencies.
Economists: Tanzania an Unsuitable Candidate
In their views, published by the Citizen following the BOT’s latest update, Tanzania’s cryptocurrency opponents argue that a lack of resources makes it “difficult to participate in worldwide trade.”
For instance, the Citizen....