Joseph Stiglitz: ‘We should shut down the cryptocurrencies’

[BlueStackz]

Bitcoin or any crypto currency is not something that could be shut down, no matter what you do. All the countries in the whole world come up with a ban that will stop all exchanges and all miners and everything in between and basically make it illegal to even own bitcoin and even after that bitcoin will still live as long as it runs on a single computer.

Considering they can only slow down bitcoin by doing that and dropping the price there is absolutely no logical way to shut down at all. You can't just take out wallets and close all computers that ever had bitcoin related things on them, its not possible, you can't even do that for small coins let alone something as big as bitcoin. Which clearly shows that Joseph Stiglitz has no idea how bitcoin works at all and should not be cared about at all.

Even if they place a ban on it, how would they be able to trace the user of the cryptocurrency, this is where satoshi really made them handicapped, he must really bean intelligent man and for this reason, he will never show his face so that government and enemies of cryptocurrency will not get him arrested or killed.

There is no way they can stop cryptocurrency, even china that tried banning his miners recently could not succeed in doing so, and probably reason why they have not said anything about it again, which absolutely means they will have no choice than to regulate it.

[arpon11]

Bullish news. Last time I read about this guy attacking bitcoin was weeks before the bull spike in 2017.

So let's wait with what happened after this and if that guy can make the bull spike again, then it will gives benefits to us because bitcoin price will increase so high like before.
And if he shut down everything, then we could be back to the stone age without a chance to see a new world happen and I am sure that many people will deny what he says.
It is not easy to shut down cryptocurrency because it's already spread in many countries although not all people know about cryptocurrency, at least people know that cryptocurrency is alive among them.

which becomes more difficult to turn off crypto because without the presence of the government, crypto can survive and more people use it. especially if the price flies, of course there will be more news about crypto, so that it has an effect

Yes, that will attract more people to come to cryptocurrency, and they will join like what we did.
I am sure that when the price flies, many people will amaze and wonder how it could happen again and they will search for the reason.

That is why I am more in favor of bull run that resulted into pumpping.  "Cryptocurrencies market", got it popularity from how bitcoin has perform in some years back and not because of how good the blockchain is or how bitcoin solved the transactions problems.  I hope if bitcoin or cryptocurrencies is shut down as stiglitz,  has recommended he has an alternative for some of us that are now used to the p2p transactions and the type of speed we are having in making payments online?

[bhabygrim]

Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. He worries that they enable illicit activity by making money transactions less transparent.

Still, he sees the value in digital payments systems and supports electronic use of government-backed currencies like the dollar.

“I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending,” he says.



https://www.cnbc.com/2019/05/02/joseph-stiglitz-we-should-shutdown-the-cryptocurrencies.html

Then he should also call for shut down of everything because anything could be used for illicit activity.
Cash is being used for it for a long time now ,Guns should also be shutdown since it is used for killing people,
Cars should also be included because it is used by criminals to escape.
So basically everything should be shutdown because they could be used for illicit activity.

[ricardobs]

Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. He worries that they enable illicit activity by making money transactions less transparent.

Still, he sees the value in digital payments systems and supports electronic use of government-backed currencies like the dollar.

“I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending,” he says.



https://www.cnbc.com/2019/05/02/joseph-stiglitz-we-should-shutdown-the-cryptocurrencies.html

I don't think the dude who wrote the article knows about crypto, because if he knows, then he would have known that shutting down crypto is the most difficult thing anyone could do in this planet earth including the government of the world, there have tried everything possible to shut it down, they couldn't do so and now they are looking for ways to be able to control it since they know that it would be very difficult to shut it down, they haven't still found the way yet.

[loopes]

Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. He worries that they enable illicit activity by making money transactions less transparent.

Still, he sees the value in digital payments systems and supports electronic use of government-backed currencies like the dollar.

“I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending,” he says.



https://www.cnbc.com/2019/05/02/joseph-stiglitz-we-should-shutdown-the-cryptocurrencies.html

Fortunately there is no way to shut down the cryptpcurrency. He worry about bitcoin, it is mean that bitcoin can be something big that can change the world. Many people life changed to be better because of bitcoin, so it can't be a problem in the future. I think more people will agree that bitcoin is better than fiat so there will be less people who want to shut down bitcoin.

[ApocalypseNow]

Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. He worries that they enable illicit activity by making money transactions less transparent.

Still, he sees the value in digital payments systems and supports electronic use of government-backed currencies like the dollar.

“I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending,” he says.



https://www.cnbc.com/2019/05/02/joseph-stiglitz-we-should-shutdown-the-cryptocurrencies.html

I wonder how much he got paid for these biased statements? Maybe by the bank owners? But all I can say, transparency exists in bitcoin's blockchain but when we talk about fiat, it can easily be untraced by passing it to people and hiding it in many objects. I've seen many movies where fiat is easy to move by money launderers using a very clever style of transport.

[dat.ho12492]

Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. He worries that they enable illicit activity by making money transactions less transparent.

Still, he sees the value in digital payments systems and supports electronic use of government-backed currencies like the dollar.

“I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending,” he says.



https://www.cnbc.com/2019/05/02/joseph-stiglitz-we-should-shutdown-the-cryptocurrencies.html

Fortunately there is no way to shut down the cryptpcurrency. He worry about bitcoin, it is mean that bitcoin can be something big that can change the world. Many people life changed to be better because of bitcoin, so it can't be a problem in the future. I think more people will agree that bitcoin is better than fiat so there will be less people who want to shut down bitcoin.

I don't think so, when a person can make technology products like crypto, another person can still shut down crypto but the problem is that this event is not conducive to countries because as we know, a lot of people join this market, shut down just doing huge damage, affecting the economy of the country. While if this market continues to maintain, many people will gain income and good economy for the future then contribute tax to the country, so useful, why shut down cryptocurrency when this is not good

[Febo]

Dollars have a plug, in fact its already been pulled really just they left it in the drain so it makes less noise; nobody notices till they cold and all the waters gone.  The proper dollar was linked to a set value, a dollar was a physical description of an amount of precious metal.    Nobody is going to believe that because its ancient history but dollar relates to the Spanish empire, its money and its gold and silver which was how business and trade was done.
   USA setting up at this time took on the concept, this was before it had won its great position we know today and as a new country they needed to win the trust of traders and holders of its money and debt.

The reason I say the plug of dollar got pulled was its not set to any value, its traded and changes every day to account for the constant new supply of dollar appearing at the top of the food chain.   Its not a favourable system for anyone distant to that source

Thal was/is actually a valley. So Thaler was like money from valley or valleys peoples coins.

[Nhor1011]

Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. He worries that they enable illicit activity by making money transactions less transparent.

Still, he sees the value in digital payments systems and supports electronic use of government-backed currencies like the dollar.

“I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending,” he says.



https://www.cnbc.com/2019/05/02/joseph-stiglitz-we-should-shutdown-the-cryptocurrencies.html

I don't know his reasons why he want to shut down the cryptocurrency after a couple of years that it become famous,useful and profitable. I alsi think that nobody can stop crypto as long as there are still a lot of demand and users. Cryptocurrency can be use for online payments and i think there is no reason to eliminate it. It will not harm us or even the fiat money. Crypto currency could be an alternative for fiat currency but it will not replace it.

[South Park]

Bitcoin or any crypto currency is not something that could be shut down, no matter what you do. All the countries in the whole world come up with a ban that will stop all exchanges and all miners and everything in between and basically make it illegal to even own bitcoin and even after that bitcoin will still live as long as it runs on a single computer.

Considering they can only slow down bitcoin by doing that and dropping the price there is absolutely no logical way to shut down at all. You can't just take out wallets and close all computers that ever had bitcoin related things on them, its not possible, you can't even do that for small coins let alone something as big as bitcoin. Which clearly shows that Joseph Stiglitz has no idea how bitcoin works at all and should not be cared about at all.

They want to ban bitcoin by the use of force and they want to impose their will to the public but as long as the reasons of why bitcoin was created in the first place are still there and they do not fix them then bitcoin will remain strong regardless of what they do, we will not have any need for bitcoin if governments managed their economies in an honest way and they did not manipulate their currency but they have decided to do so and now the people finally found a way to create a currency they cannot manipulate and this is why bitcoin does not stop growing.