Nobel Prize Economist Says That Crypto the Latest in a Pattern of Alternative Currencies

[Kargai]

I found interesting to compare the new crypto market to some old ideas who had existed in the past with the goal to create some alternative currencies.

Robert Shiller received the Economics Nobel Prize in 2013 and created the index use nowadays by Standard and Poor’s Financial Services.

Shiller recognizes that the decentralized nature of cryptocurrencies is a primary draw for those who see governments as “the drivers of a long train of inequality and war.” He concludes, however, in saying that “None of this is new, and, as with past monetary innovations, a compelling story may not be enough.”

Lot of the previous ideas he compare cryptos to never really exist and were abandonned before long, all we can do is hoping he's wrong about cryptos

Source : https://cointelegraph.com/news/nobel-prize-economist-says-that-crypto-the-latest-in-a-pattern-of-alternative-currencies

[Edward]

Always good to see people with decent economic influence and reputation backing Bitcoin. I do miss the days when articles like this would swing the price 10%+ though!

[Lillyflow]

I find a great huge pile of irony in the fact that the man you mentioned has the last name Shiller! 

I love that, what a funny coincidence. Haha. 

The notion that nothing is new, for once, is not true.  History doesnt always repeat- and I have a WHOLE theory on why blockchain is making this a factor in our evolution as a species... 

Perhaps I will share that article soon.  It is a doozy though.  Anyone up for an in depth read on blockchain humanity as I see it? lol 

( I am a nerd. It is a thing) . 

[wry]

Sadly, if you read the actual article he wrote: https://www.project-syndicate.org/commentary/cryptocurrencies-scientific-narrative-by-robert-j--shiller-2018-05 he's not very positive as he compares it to alternate currencies that never actually caught on.

He claims few people outside of computer science departments can explain how cryptocurrencies work, maybe you should go get him @Lillyflow!