[2014-09-07] Finance Professor David Yermack Argues that Bitcoin Should Not Be C

[patricktim]

http://cointelegraph.com/news/112462/finance-professor-david-yermack-argues-that-bitcoin-should-not-be-considered-as-money

There's a lot of basic financial data that suggests that, in terms of being a store of value for instance, Bitcoin is very volatile on a day to day price," argued Yermack.

The professor noted that Bitcoin was probably more volatile than any other financial assets, adding that the digital currency tented to fall almost 10% on a given day, which makes it much more volatile than any other currencies that are being traded on the markets around the world, as well as gold and shares of stock.

[1714095354]

1714095354

[cbeast]

Yet another Professor Bitcorn.

[panju1]

New York University Stern School of Business finance professor David Yermack expressed the 3 attributes of money as being a unit of account, a medium of exchange and a store of value. "If those are the 3 benchmarks, Bitcoin doesn't seem to perform very well in any of them," said the professor.

He attacks bitcoin on all 3 parameters!!

[dwdoc]

Already posted.

https://bitcointalk.org/index.php?topic=767765.msg8663568#msg8663568

[Brooker]

Yet another Professor Bitcorn.

Haha. Well, it is a currency/money regardless or what he says. Doesn't everything fluctuate when you peg it to fiat currencies? Even they themselves lose and gain value against each other. 1 bitcoin is also worth 1 bitcoin at the end of the day.