Tuesday, December 10, 2013

Paul Krugman on Bitcoin?

Bitcoin thus spontaneously developed a price, as do all things in an open market if they are sufficiently useful and sufficiently scarce. Let's look at value a little further, because it's a contentious issue with Bitcoin. There are many (including Paul Krugman) who believe Bitcoin isn't worth anything and is no more than a speculative bubble fad. I wouldn't expect Krugman to "get it," but wiser/real economists need only observe metals to start understanding why Bitcoins have value.  Link

What an idiot, as usual.

If Bitcoin goes to zero then it will be due to the unforeseen emergence of a better crypto currency and not due to the fact that it's just some "bubble fad" of the sort created by central bankers.

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