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Remark about Cryptocurrency future
I had a memorable meeting with this guy in 1994 when he was economic adviser to Clinton administration. Today he is the Nobel laureate in economics. He said during an interview with Bloomberg Television that Bitcoin should be 'outlawed'. The comments by Mr. Stiglitz come amid a volatile day for the digital currency, with it having dropped. I deeply respect his brilliant ideas on asymmetric information, where one party to a transaction has more information than the other. It's really helpfull, no doubts. But, you have to agree that the cryptocurrency first of all is a new technologies and fresh point of view on future of finance and money. So, another Nobel laureate Bob Dilon said: “Don’t criticize what you can’t understand.” And I think that is true.
Replies (2)
Wow. Interesting how you met with him. I understand his concerns but these new technologies require brand new courses on the subject of new, smart economies and we have yet to see what is truly being created. They said internet wasn't going to work, too. It's good to have perspective and inly time will tell. However, one thing I know for sure is that technology wins all aruguments in the end and the world has yet to funish building.
All of them are really professionals and outstanding economists. But time is running quickly and they don't see main point in new ideas. It's normal. I have met this guy in Washington in 1994. It was memorable meeting and he presented me his signed book. I hope you can find this book from your mom.