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Author Topic: [2014-09-03] In Conversation with Bitcoin expert and NYU Professor David Yermack  (Read 604 times)
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September 03, 2014, 06:26:07 AM

Professor Yermack, who once researched the economic impact of the fashion decisions of US First Lady Michelle Obama, has recently turned his hand to detailing some of the bizarre and humorous characteristics of Bitcoin. Like the Bitcoin ATM installed in Melbourne which offered to sell 1 Bitcoin for A$585 and buy 1 Bitcoin for A$523. Not only was the spread 10.5% but the current market rate for Bitcoin was $511 and so essentially the ATM company would be losing money on its transactions.

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September 04, 2014, 02:45:06 AM
Last edit: September 05, 2014, 01:51:47 AM by dwdoc

What makes him a "bitcoin expert?"

Ultimately whether or not bitcoin is succeeding as a medium of exchange, a store of value and a unit of account is an empirical question.  I find it useful in all those ways and many more. And I would wager that there are a million others that agree.
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