[2018-01-22] Robert Shiller Can’t Decide if Bitcoin Will Collapse or Succeed

[tyz]

Robert Shiller Can’t Decide if Bitcoin Will Collapse or Succeed

Most people are seemingly convinced Bitcoin is in a bubble. If that is the case, the value of this cryptocurrency will collapse very soon.

https://www.newsbtc.com/2018/01/22/robert-shiller-cant-decide-fi-bitcoin-will-collapse-succeed/

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[jseverson]

For those wondering, Robert Shiller is one of the world's most decorated economists, and is a Nobel Prize winner. It kind of baffles me why he made the comments that he did, despite the fact that he basically conceded that he has no idea what will happen.

It's interesting how he reuses the same argument of Bitcoin having no inherent value and draws a parallel to the tulip mania, and yet isn't in any hurry to declare Bitcoin's imminent death. It kind of makes you think that Bitcoin is truly in a class of its own.

[richardsNY]

It's interesting how he reuses the same argument of Bitcoin having no inherent value and draws a parallel to the tulip mania, and yet isn't in any hurry to declare Bitcoin's imminent death. It kind of makes you think that Bitcoin is truly in a class of its own.

Bitcoin is in a class of its own, but it's very hard to admit that for traditional market shills. If you can't see that the crypto market in its entirety is a total new asset class, then you are either short sighted and too brainwashed by the system, or you just can't admit that Bitcoin beats everything that this broken system has to offer. Another thing that's pretty much annoying, is that there are people thinking that if something isn't issued by the government, it directly means that it is a fraud. It just shows that people don't know how to think beyond their very limited and faulty logic. Let them think whatever they want, it doesn't change anything -- they didn't understand Bitcoin years ago, and still do not understand it today. It's their loss.

[peter0425]

For those wondering, Robert Shiller is one of the world's most decorated economists, and is a Nobel Prize winner. It kind of baffles me why he made the comments that he did, despite the fact that he basically conceded that he has no idea what will happen.

Probably he wanted to stay relevant and uses bitcoin as his platform?

I agree with you, a Nobel price winner talking about something that he didn't know in the first place. What's his reasoning behind? Your guess is as good as mine.

It's interesting how he reuses the same argument of Bitcoin having no inherent value and draws a parallel to the tulip mania, and yet isn't in any hurry to declare Bitcoin's imminent death. It kind of makes you think that Bitcoin is truly in a class of its own.

He says that he has no idea, but as far as the tulip bubble mania argument, it has a lot of flawed to begin with. So I doubt that he truly understands what he is saying. And bitcoin is truly as class of its own, never did we seen that a "asset", "digital money" of that nature can really disrupt the economic landscape and that makes traditional investor and economist very wary about the crypto industry.

[J. Cooper]

It's interesting how he reuses the same argument of Bitcoin having no inherent value and draws a parallel to the tulip mania, and yet isn't in any hurry to declare Bitcoin's imminent death. It kind of makes you think that Bitcoin is truly in a class of its own.

Bitcoin is in a class of its own, but it's very hard to admit that for traditional market shills. If you can't see that the crypto market in its entirety is a total new asset class, then you are either short sighted and too brainwashed by the system, or you just can't admit that Bitcoin beats everything that this broken system has to offer. Another thing that's pretty much annoying, is that there are people thinking that if something isn't issued by the government, it directly means that it is a fraud. It just shows that people don't know how to think beyond their very limited and faulty logic. Let them think whatever they want, it doesn't change anything -- they didn't understand Bitcoin years ago, and still do not understand it today. It's their loss.

There's no point in releasing statements if you 1. don't understand the technology or 2. don't want to understand it (so instead go ahead and start claiming it's a fraud or something similar) because you know it's coming for fraudulent governments. It's also worth nothing that these guys owe their position to the current system so it shouldn't be too surprising to hear such statements.

Bitcoin is in a class of its own, but it's very hard to admit that for traditional market shills.

Pun intended?

[greeklogos]

I am also in front of this dilemma for about a year since I have join. There are so many opinions about bitcoin's future and every critic has it's own explanation with some of which it is hard to argue. Anyway, no matter what kind of future bitcoin will face I am going to stay with it till the end!

[Aikidoka]

It really irritates me when I read an article about someone, who has won a noble prize, who has no idea about the future of bitcoin because, in fact, no one can predict the future. And if bitcoin is going to collapse, let it be. Many other cryptocurrencies will take its place and shine.

It is not good for bitcoin holders, but good for those who invest in other altcoins. Either ways, I will always believe in bitcoin because it surely is going to get back on its feet soon enough.

[splat44]

They want to pull down the price of bitcoin and it will affect the market of Cryptocurrency as they said that bitcoin is a bubble they compare it on DOTcom bubble, Bitcoin will not collapse in the first place its a mass adoption(YES), Private sectors wants to use blockchain to make another technology uses that will help the entire community well, whatever is the news about i will stay on bitcoin. i will hold it until it reach 1million and so on.