"‘We should shut down the cryptocurrencies’"

Cryptocurrency is bad, mkay? Or at least this guy says so. Let’s talk about why this Nobel prize winning economist is off base, why it’s dumb to continue asking Warren Buffet his thoughts on Bitcoin, Fidelity launching crypto trading and much more in today’s episode.

Joseph Stiglitz: ‘We should shut down the cryptocurrencies’

“Fidelity Will Offer Cryptocurrency Trading Within a Few Weeks”

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23 replies
  1. king david
    king david says:

    Here is the problem, as funds continue to invest – actually speculate – it's just speculation
    And when fidelity offers their risk investment opportunities
    Fidelity won't play in bitcoin without owning the markets – exchanges
    There chasing stable yield. Not bitcoin. The new Disney coin – Samsung coin. Apple coin legocoin
    corporate culture is moving in. Taking over.

    It's possibly game over for independent players that don't fully comply. Behave.

    Cash is better than electronic now. You admitted this yourself last week.

    The underground economy will adopt another method to buy sell trade and exchange
    It may be little microchips next – that run on onion.tor
    Nano chips that have other features
    Bitfinex needs to be closed down

  2. Leo Dogma
    Leo Dogma says:

    Bitcoin breaking out going above $6000 soon, Buffet and his near death point man missed the boat. Bitcoin will hit $100,000 sooner than most people expect, fiat currencies that are now digitized into existence are the real danger as is the debt bombs the world is awash in debt the USA alone is at $220 Trillion + ! Europe and the euro is gone as is their economies, I'm not so sure about the CFTC being able to enter this space under the guise of fair regulation and futures trading, they do the same thing with the metals market manipulating the actual metal with phony derivative paper created out of thin air.

  3. NoMoreAutomatics
    NoMoreAutomatics says:

    Warren Buffet doesn't like bitcoin because he missed the "investment" early on. If he admits that BTC is solid, then he looks like an amateur to his investors, for missing it in the first place. Much easier to make fun of something than to self-criticize.

  4. Michael Garibaldi
    Michael Garibaldi says:

    We should NOT ban cryptocurrency and here is why, in chronological reasoning:
    1) We Americans of the younger generation enjoy a privilege right now, which is the USD supremacy across the globe.
    2) USD supremacy is dated however, and the USD will lose in the end as the world reserve currency.
    3) When that happens, hundreds of millions of people in the US (alone) will fail to make ends meet due to the rapid flux of prices for goods and services including food and basic amenities.
    4) Economy experts – like Joseph Stieglitz – say the best way to hedge against USD collapse is buying foreign bonds/stocks (cool, I’m down) and gold (wait, wtf)
    5) While stocks and bonds enjoy liquidity, #hodling Gold does not.
    6) Bitcoin and maybe some others may remain popular long enough to substitute for gold in times of crisis. They can be used wherever there is internet and they are intrinsically valuable, thanks to miners.

    In the end, I don’t want anyone to struggle to make ends meet. I also want a safety net in case my 401k goes to $0 when the USD loses its lead against other global currencies. At the end of the day, Americans need to be OK too and not left to rot when the clock strikes midnight.


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