Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. Still, he sees the value in digital payments systems and supports electronic use of government-backed currencies like the dollar.
  • OsrsNeedsF2P
    9·
    3 years ago

    He worries that they enable illicit activity by making money transactions less transparent.

    So he’s either lying, didn’t do his research, or is stupid. We’re off to a good start

    Oh nevermind, the article is 2 paragraphs long. Guess we end where we began.

  • ailiphilia
    7·
    3 years ago

    “I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending”, he says.

    Who is regulating? In whose interest?

    Whose business is it to know “in real time” how much an individual is spending, for what, and why?

    I almost never agreed with Stieglitz’s views, and once again he seems to tell the establishment what they want to hear (very much like Keynes did some decades earlier). Even though I think that 99% of crypto is pure trash and will go bust, shutting everything down (how would this be done, btw?) is completely outrageous.

  • 0therbit5
    7·
    3 years ago

    Someone can explain to people like him that you can’t “shut down” crypto? Just who have real decentralize blockchain of course.

  • angarabebesi
    6·
    3 years ago

    Another authoritarian who wants total government surveillance over all financial transactions.

  • tracyspcyM
    21·
    2 years ago

    And now the reality : No one cares about his thoughts