Nobel prize-winning economist and Columbia University professor Joseph Stiglitz is among those critics.
Although the ledger of transactions that has taken place on the blockchain is public, Stiglitz says the anonymity of bitcoin opens the door for criminal enterprises.
In fact, Stiglitz has said further regulation of bitcoin will render it useless.
In addition to Stiglitz, financial stalwarts such as Warren Buffett, International Monetary Fund head Christine Lagarde and J.P. Morgan CEO Jamie Dimon have all criticized bitcoin.
“I’d like us to move more towards an electronic payments [system] but you don’t need a bitcoin for that,” Stiglitz told Bloomberg in January.
Celebrated economist Joseph Stiglitz has recently spoken out against cryptocurrencies. The Nobel Prize winner even went as far as to say that crypto needed to be “shut down”. Evidently, Stiglitz doesn’t fully comprehend just what it would take to “shut down” most cryptocurrencies, let alone Bitcoin.
Nobel Prize winning Economist, Joseph Stiglitz has spoken about about Bitcoin. The long and short of this assault is that Stiglitz believes Bitcoin should be made illegal. Stiglitz believes that it’s association with crime, fraud and laundering makes it a dangerous assets that should be criminalised.
The believers of cryptocurrencies say that the distributed ledger technology (blockchain) and digital money will cause a revolution in our lives. However, some critics of the technology see a considerably darker future ahead of us.
Joseph Stiglitz, Nouriel Roubini, and Kenneth Rogoff have once again come out of the woodwork to attack Bitcoin — though they might need to get their facts straight. ‘No Government Can Allow That’ Joseph Stiglitz, a Nobel Prize-winning economist and professor at Columbia University, believes Bitcoin will be shut down by governments around the world — while illustrating a serious lack of knowledge on what Bitcoin even is.
The stablecoin market isn’t unlike Berkshire Hathaway’s enormous cash stash – it’s sitting there ready to be deployed, according to CoinMarketCap’s Alice Liu.
The vice chairman of multinational holding company Berkshire Hathaway once described cryptocurrency and artificial intelligence as "overhyped" and "stupid".
In a social media post, Robert Kiyosaki described gold’s recent push to an all-time high price as “great news.” The financial expert also name-dropped Bitcoin as a worthy investment.
Take a dive into Warren Buffett's perspective on AI, exploring concerns, historical context, and a balance between innovation and tradition.
The post Unpacking Warren Buffett’s Stance on AI: Innovation vs. Tradition appeared first on BeInCrypto.
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