Bitcoin Forum

Is Krugman doing to Bitcoin what he did to oil?

Paul Krugman, the Nobel Prize winning American Economist was in the limelight once again for his comments regarding Bitcoin. This time he was on a panel at the 92Y’s 7 Days of Genius event. The panel was inappropriately called ‘The Genius of Economics’. Mr. Krugman has hated bitcoin since it’s birth. He has gone on record many times berating the currency and taking a knock at its supporters.

https://ihb.io/2015-09-08/news/is-krugman-doing-to-bitcoin-what-he-did-to-oil-23379


Genius forecaster  :P

i'd consider a panel including a Nobel Prize winning Economist as appropriately named 'The Genius of Economics'.

funny thing is most 'genius' on this forum have done little in the real world, and add to that i've not seen even a core dev past or present have any real understanding of economics.

almost no one here understands how bitcoin gets its price, and most claim btc victory based on its price vs USD  ::)

what ever it is but by this we can see that now most of the high professionals want to link themself with bitcoin history, its a good sign that coming future of bitcoins is very good, and we can expect sudden boom in this bitcoin market.

Or maybe it should have said "The Genius of Keynesian Economics".  I went to see a debate with Krugman a couple years ago, and he is good at debating because he is easily to tempt listeners into tangents, and speaks confidently and arrogantly.  For Keynesian economics, he has decent arguments, but is unable to properly debate with libertarian/austrian economics views without being dismissive and lacking an explanation.  He doesn't entertain thought other than this own.  I prefer to see someone entertain the thoughts of others as deep as they can go, and then start picking apart the holes.

The thing i got at the moment people are talking more about bitcoin,it is starting to left the stage people put it into,i mean bitcoin is bad dont use dont buy,big names will appear some against other supporting we need debate more about it being volatil is very atractive ,there is some milions inside this already soo why not to talk about it the same way we talk about wars and others things...

its def a obvious sign.

I mean why else would these VC`s pump millions of dollars, of course they would want this thing to grow and succeed. If its caught the banks attention which it did, then its going somewhere.

The guy is a complete freaking moron...

All that these geniuses of economics have given us is a financial system that is on the brink of collapse.

If he came up with a solution for the problems we have now then I'll consider him a genius but until then he is just one of those who contributed to the mess we are in at this stage.

Economists don't provide solutions, they explain problems.  ;)
That said, people with traditional mindsets can't really understand Bitcoin's potential. Krugman has been wrong about crude, he has a far lesser probability about being right about Bitcoin.

Genius and against bitcoin are opposite terms.

1) Genius
2) Anti-Bitcoin

Pick one. Specially as an economist. If he can't see the actual genius behind Bitcoin and if he can't see the endless disruption that it is going to do once things start rolling in the next decade, he just yet another former genius that goes from "genius" to failed prophet.

Lol, this can't be more true... A lot of economist seem to know exactly what's going on with how exactly we are in trouble as a nation and in a global aspect, but can never develop a plan to get us out of it. No matter what any one says though, whoever does actually propose a solution to get the worlds national economies to gel together, will almost always get a majority of backlash because it follows a specific ideology (Marxism, capitalism, etc.) I just hope that one day a new, better ideology will come out with Bitcoin and gold as the staples of what keeps it going instead of fiat currencies... But you know how hard that'll be with old white men in central banks pulling string to keep that from happening.

yap, +1 same here
I thinking same with you about that

I agree. But I'm not even sure, if Krugman deserves the title "former genius". To me, he basically part of the dying Keynesian system that has produced the biggest fiat money bubble in history and will lead us into dark ages.

The scholars of the economic mainstream are all alike: They fail to take reality into account and most of them are servants of the status-quo-governance.

It's great to see them fail, because they've done nothing good to humanity.

ya.ya.yo!