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Author Topic: [2016-09-09]Bitcoin Banned in the US, Says Nobel Laureate Joseph Stiglitz  (Read 310 times)
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September 09, 2016, 07:37:28 PM
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Bitcoin Banned in the US, Says Nobel Laureate Joseph Stiglitz

Who says “geniuses” can’t be wrong? In this case, one Nobel prize winning economist may have gotten everything wrong about Bitcoin. Joseph Stiglitz, the 73-year-old Nobel Laureate, and professor at Columbia University had the Bitcoin community dumbfounded after he said that Bitcoin has been banned by the United States...

http://www.newsbtc.com/2016/09/08/bitcoin-us-ban-joseph-stiglitz/

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September 09, 2016, 07:48:35 PM
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Whenever I have a question about cutting edge technology I always ask a 73 year old.  Roll Eyes

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September 10, 2016, 02:43:09 AM
Last edit: September 10, 2016, 03:00:53 PM by aigeezer
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Whenever I have a question about cutting edge technology I always ask a 73 year old.  Roll Eyes

Great! I'll be 73 next week. Ask away!

As for Stiglitz, he's been bashing BTC for as long as I've been mining it (2011), iirc. It's what fiat-centric economists do, and there's usually a flutter in these forums whenever they do it, with Krugman usually drawing the most attention.

https://bitcointalk.org/index.php?topic=392780.msg4232835#msg4232835

As for the "Nobel Laureate" thing, it's phony in the sense that Alfred Nobel did NOT set up a prize in Economics. The prize was added 73 years after Nobel died (there's that number again!) by a Swedish bank (hint, hint) "in honour of Alfred Nobel". They persuaded the Nobel Committee to have their new award presented at the same ceremonies as the real thing, perhaps knowing that media and public would forget about the difference in time.

https://en.wikipedia.org/wiki/Nobel_Memorial_Prize_in_Economic_Sciences

Shills come in all ages, and wearing a variety of costumes. Only the facts matter, not the messenger's persona.

Speaking of facts, here's a graph of the performance of the dominant fiat currency of our era, managed by economists of all political stripes and ages: http://s3.amazonaws.com/main-newsbtc-images/2015/12/10153204/a-Purchasing-Power-of-U.S.-Dollar.jpg

Edited for clarity and to make it less Stiglitz-centric, as I think the issue is bigger than one man's gaffe.


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