Skip to content
Real Cryptocurrency Hub

Real Cryptocurrency Hub

Crypto Comeback Pro is an auto trading platform that allows you to invest in the crypto market and start making money right away. Sign Up HERE

  • Home
  • Start Trading
  • English
    • English
    • Español
    • Italiano
    • Polski
    • Svenska
    • Deutsch
    • العربية
  • News
    • Mining
    • Bitcoin (BTC)
    • ATM
  • Guides
  • How To’s
  • Exchange/Wallet
  • Brokers
  • Bitcoin Price Prediction
  • ✉ Contact
  • Home
  • Bitcoin (BTC)
  • Paul Krugman Lay Down His Arms against Bitcoin & Says “Bitcoin Will Stay”
  • Bitcoin (BTC)
  • Crypto News

Paul Krugman Lay Down His Arms against Bitcoin & Says “Bitcoin Will Stay”

Blaine Matta May 23, 2021 2 min read

In his recent Twitter post, Paul Krugman, states that he has done away with predicting and expecting the end of Bitcoin. He believes that the crypto community is in fact a “cult” whose followers are increasing no matter what happens.

Paul Krugman is an acclaimed economist who has also won Alfred Nobel Prize winner in 2008 in the field of economic sciences. He had compiled a detailed analysis relating to economic activity locations and trade patterns, which earned him the Nobel Prize. However, when he received that award, the next year, the world’s very first digital coin was invented. However, from day one, Krugman had been arguing against Bitcoin and criticized it for not having any fundamentals.

However, in the past week, something astonishing had taken place, which no one had expected, from the Nobel Prize winner. Krugman was witnessed posting a tweet in which he had informed that he would not be predicting any further regarding the demise of Bitcoin. In simple words, he has laid down his arms against Bitcoin and has come to believe that Bitcoin will continue to exist. He stated that he had given up against the crypto community, which has become a “cult” where thousands are joining the cult every day. He accepted his defeat and surrendered by suggesting that Bitcoin is going to live indefinitely, no matter what happens.

Yet he clarified that he can never ever become a Bitcoin fan nor he will reconsider his stance towards Bitcoin. He said that according to him, there is a genuine lack of fundamentality within Bitcoin, which is something he never ignores. He explained that he is an expert on economics and he is bound by his knowledge to avoid “speculation”, which is the whole basis of Bitcoin. He said that there is not a single economy that runs based on “speculation”. He continued by explaining that nor is there no currency that has super “volatility”.

Krugman further suggested Bitcoin that is a product of innovation and has been part of the world for a considerable time. However, since its launch, there has not been any commendable use of it, which is one of its major problems, said Krugman. Neither Bitcoin can be regarded as a stabilized store of value nor can it be termed as an accounting unit, opined Krugman.

In his recent onslaught towards crypto, he had also regarded crypto with a bogus crypto scheme in an article. The article was duly published in the top US magazine i.e. The New York Times. In this article, Krugman opined that twelve years have passed but still crypto has failed to play any crucial role in the global economic system. He said that the only use he has been able to determine is that some entities are accepting crypto as payment, stated Krugman.

Post Views: 431

Continue Reading

Previous: No More Bitcoin (BTC) Donations Would be accepted by Greenpeace over Environmental Concerns
Next: The Lucrative Volatility: Indians Venture in Bitcoin

Related Stories

Crypto Broker Genesis Slashes Workforce and Announces CEO’s Exit
2 min read
  • Brokers
  • Crypto News

Crypto Broker Genesis Slashes Workforce and Announces CEO’s Exit

August 18, 2022
Galaxy Digital Terminates Bitgo Acquisition Deal
3 min read
  • Crypto Marketplace
  • Crypto News

Galaxy Digital Terminates Bitgo Acquisition Deal

August 17, 2022
Bank Of Russia Intends To Launch Digital Ruble In 2024
3 min read
  • Crypto News

Bank Of Russia Intends To Launch Digital Ruble In 2024

August 16, 2022

Read our disclaimer

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$21,369.00
-8.29%
ethereum
Ethereum (ETH)
$1,698.84
-8.91%
tether
Tether (USDT)
$1.00
0.03%
usd-coin
USD Coin (USDC)
$1.00
-0.08%
binancecoin
BNB (BNB)
$285.95
-5.60%
ripple
XRP (XRP)
$0.339485
-9.97%
cardano
Cardano (ADA)
$0.466573
-11.89%
dogecoin
Dogecoin (DOGE)
$0.069790
-10.94%
polkadot
Polkadot (DOT)
$7.50
-10.63%
Uniswap
Uniswap (UNI)
$7.06
-10.25%

Recent Posts

  • Crypto Broker Genesis Slashes Workforce and Announces CEO’s Exit

    Crypto Broker Genesis Slashes Workforce and Announces CEO’s Exit

    On Wednesday, digital asset broker Genesis made several announcements, the first of which was that its chief executive
  • Galaxy Digital Terminates Bitgo Acquisition Deal

    Galaxy Digital Terminates Bitgo Acquisition Deal

    Mike Novogratz, the founder and chief executive, of Galaxy Digital Holdings, announced that the company had chosen to
  • Bank Of Russia Intends To Launch Digital Ruble In 2024

    Bank Of Russia Intends To Launch Digital Ruble In 2024

    A paper detailing the priorities of the Russian central bank for its monetary policy between the 2023 and
  • Class-Action Lawsuit Accuses Robinhood Of Market Manipulation

    Class-Action Lawsuit Accuses Robinhood Of Market Manipulation

    A class-action lawsuit was recently filed against Robinhood, which supports stock and crypto trading, and the platform has
  • JP Crypto Review – a Recommended Crypto Broker

    JP Crypto Review – a Recommended Crypto Broker

    JP Crypto Review Suppose you are interested in trading cryptocurrencies but are hesitant to do so due to

Start Trading

Categories

Top Posts

  • Operators of Crypto Pyramid Schemes Fined & Imprisoned In Dubai

    Operators of Crypto Pyramid Schemes Fined & Imprisoned In Dubai

    Dubai also wants to become a global hub for cryptocurrencies as well as the Government in Dubai endorses
  • Synthetix Protocol On The Verge Of Layer 2 Launch

    Synthetix Protocol On The Verge Of Layer 2 Launch

    The recent rise in the price of the second digital currency, according to market cap, Ethereum, has brought
  • Coinbase Rises 10% After Claiming Zero Exposure To Bankrupt Firms

    Coinbase Rises 10% After Claiming Zero Exposure To Bankrupt Firms

    There have been concerns about the recent liquidity crisis in the crypto industry having an impact on crypto
  • The Lucrative Volatility: Indians Venture in Bitcoin

    The Lucrative Volatility: Indians Venture in Bitcoin

    You will agree that cryptocurrency investors have had challenging times over the past week. If you have invested
  • Pboc Expanding Testing Locations For The Digital Yuan

    Pboc Expanding Testing Locations For The Digital Yuan

    One of the countries that have made a great deal of progress where central bank digital currencies (CBDCs)

Archives

You may have missed

Crypto Broker Genesis Slashes Workforce and Announces CEO’s Exit
2 min read
  • Brokers
  • Crypto News

Crypto Broker Genesis Slashes Workforce and Announces CEO’s Exit

August 18, 2022
Galaxy Digital Terminates Bitgo Acquisition Deal
3 min read
  • Crypto Marketplace
  • Crypto News

Galaxy Digital Terminates Bitgo Acquisition Deal

August 17, 2022
Bank Of Russia Intends To Launch Digital Ruble In 2024
3 min read
  • Crypto News

Bank Of Russia Intends To Launch Digital Ruble In 2024

August 16, 2022
Class-Action Lawsuit Accuses Robinhood Of Market Manipulation
2 min read
  • Crypto News
  • Cryptocurrency/Cryptocoin

Class-Action Lawsuit Accuses Robinhood Of Market Manipulation

August 15, 2022
  • Kraken
  • OrbitGTM
  • Fxoro
  • KuCoin
  • Huobi
  • Bitfinex
  • PrimeXBT
  • CTmatador
  • DXCBIT
  • PrimeHolders
  • CMC Markets
  • XCGIN
  • Virtual Payout
  • Gamma Capitals
  • Towards Soure
  • CoinsMarkets
  • ArgoTrade
  • Global Solution
  • CTProz
  • Alfabtc
  • JP Crypto
Copyright © All rights reserved. | DarkNews by AF themes.
  • bitcoinBitcoin(BTC)$21,369.00-8.29%
  • ethereumEthereum(ETH)$1,698.84-8.91%
  • tetherTether(USDT)$1.000.03%
  • usd-coinUSD Coin(USDC)$1.00-0.08%
  • binancecoinBNB(BNB)$285.95-5.60%
  • rippleXRP(XRP)$0.339485-9.97%
  • cardanoCardano(ADA)$0.466573-11.89%
  • SolanaSolana(SOL)$37.25-8.39%
  • dogecoinDogecoin(DOGE)$0.069790-10.94%
  • polkadotPolkadot(DOT)$7.50-10.63%
  • UniswapUniswap(UNI)$7.06-10.25%
  • bitcoin-cashBitcoin Cash(BCH)$119.07-10.13%