[2018-07-10] Joseph Stiglitz says BTC could drop to 100$

[bbc.reporter]

The biggest banks in the world participate in money laundering, tax evasion, and as we have seen during the housing bubble, issuance of scam investments. If you know what you are doing, bitcoin is a ledger that anyone can use for money laundering, tax evasion, and for issuance of scam investments in counterparty.

I reckon that Nobel prize economist is paid to spread FUD because the big banks like HSBC do not like competition in their criminal activities hehehe.

Governments are fine with tax evasion and money laundering when some high profile officials get their cut. Bankers and said officials hate Bitcoin because they don't want average joe to do those things, without him the whole system would crash. So, they ask economists to write FUD against Bitcoin in exchange for grants or bribes or whatever.

Agreed, good comment! I really am taking that possibility for granted.  In any case, yes, the cryptospace is giving power to the people that also gives them a capacity that requires small effort but achieves good results without needing an authoritative 3rd party.

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[cryptofonia]

The biggest banks in the world participate in money laundering, tax evasion, and as we have seen during the housing bubble, issuance of scam investments. If you know what you are doing, bitcoin is a ledger that anyone can use for money laundering, tax evasion, and for issuance of scam investments in counterparty.

I reckon that Nobel prize economist is paid to spread FUD because the big banks like HSBC do not like competition in their criminal activities hehehe.

Governments are fine with tax evasion and money laundering when some high profile officials get their cut. Bankers and said officials hate Bitcoin because they don't want average joe to do those things, without him the whole system would crash. So, they ask economists to write FUD against Bitcoin in exchange for grants or bribes or whatever.

Agreed, good comment! I really am taking that possibility for granted.  In any case, yes, the cryptospace is giving power to the people that also gives them a capacity that requires small effort but achieves good results without needing an authoritative 3rd party.

I don't think that banks really disgust Bitcoin. I think that they are here, in crypto market, but from backyard.

[richardsNY]

I don't think that banks really disgust Bitcoin.

Of course they do. I don't need them to store and send value anymore (i.e. banks are semi obsolete), how could banks not want Bitcoin to be turned into dust if they had a magical nuke button? If Bitcoin wasn't a thing, banks would continue to suppress and extort people for who knows how many more years. For once banks are being forced to do something they don't really want, but they have no other option than to adapt to the crypto industry to remain relevant. Bitcoin forced banks to become more respectful towards their clients, offer better and cheaper features, etc. It creates a much better and more healthy market for people. We can choose now.

[monocolor]

Lol BTC drop to $100, this will be fantastic! In 2013 when it was $100 I did not buy enough, won't miss the next chance if it comes 

[J_Crypto]

The professor talks about the time when bitcoin capitalization will pose a threat to the state. From which it follows that it will not be very soon and its capitalization should be very large

[reyiwiuw123]

Are you sure about this one ?? 

[swaggerkeme]

Those in high authority are scared of bitcoin, they don't want to lose control of the high power they hold when it comes to finances. Bitcoin is here to help the world and make it a better place through blockchain technology but negative statements from high profile personalities is hindering the wonderful vision of blockchain.