the Alleged experts who want to explain Bitcoin to be dead, have a renewed boom. The falling rates on the crypto-market to shoot at the wave of the bear market for cryptocurrencies. According to the Motto: “I always knew” is the spoken downfall of crypto-currencies, albeit always with the note that the Blockchain technology is a great invention.
By Sven-servant to the
car At 7. December 2018 share Facebook Twitter LinkedIn xing mail
Unfortunately, many people and media of the statements of the crypto-opponent are unsettling. Without question, unacceptable destructive Statements from people with expert status as a given. Especially professors and representatives of the Bank to exercise a strong authority, piety, large parts of the society. Your statements will be familiar to you. So, Atulya Sarin, a Professor at Santa Clara University, explained this week that Bitcoin is in a death spiral. Why his argument falls short, we have explained in one article.
criticism must be, but please be constructive
it is not a question of criticism of the crypto-Economy collapse. There are a lot of problems in the crypto-market. Just think of the enormous market manipulation or the countless superfluous ERC20-tokens, which have flooded the market. It is important that these issues openly and honestly to address and to seek solutions. However, to claim that crypto-currencies is just a substance-free Trend, to represent and to explain, therefore, per se, for dead, is undifferentiated. As such a blunt criticism looks like, you can watch the CNBC Interview with UBS’s chief economist Paul Donovan:
I come to bury bitcoin, says UBS’ global chief economist
watch This Video on YouTube.
The arrogance, the UBS chief economist, is shameful. In the first sentence, it says directly: “Everyone with a higher education degree in Economics is a Bitcoin skeptic”. A statement that is strongly reminiscent of the well-known Trump rhetoric. Nevertheless, there are not only critics, but also many supporters of the crypto-Economy coming from the high school or banking landscape. These “colleagues” he makes such statements not credible.
to progress
faith is Also typical for many of the crypto-opponent is one-dimensional and present related arguments. Thus, it is assumed that crypto-currencies will no longer be able to develop and to other characteristics that differ from Fiat money to be shown as necessarily negative.
at the beginning of the 90s, the possibilities for Internet users were also quite severely limited, as is the case today in the case of Blockchain applications. The E-Mail was the Internet what it is today Bitcoin to the Blockchain technology that has been used in spite of their enormous advantages for several years to cultivate. Well-known Economists, such as Nouriel Roubini or Joseph Stiglitz mistaking those possibility of further development and adaptation.
The Bitcoin-Bashing defy
Even if single, older men out of the economic and financial elite do not like Bitcoin & co.: It doesn’t matter. Although this background noise uncertainty create for those who have not yet dealt with the matter apart, or change, you will stop nothing. The crypto-adaptation is already been used by the largest investment houses in the world decided to. The convergence between crypto-Economics and traditional financial world is already in full swing.
Whether the largest Asset managers in the world are already working on crypto-Custody solutions to investment banks notarize interest in crypto-financial products or a market of Baden-Württemberg crypto-offering a trade: The Integration of crypto currencies into the existing financial Economics. The statement from Nouriel Roubini that Bitcoin is a Ponzi scheme, or crypto-currencies have no Chance, will prove to be just as correct as the statement in the early ‘ 90s that the Internet was only a temporary Trend.
