Paul Krugman News

Paul Krugman's harsh comments touched on core development issues within the Bitcoin community.

David Stockman has told CNBC’s Futures Now in an interview that investors in the cryptocurrency market are “stupid speculators” and will suffer a “spectacular crash.”

Over the past few years, Paul Krugman, “economist” and University of New York professor, continuously criticized Bitcoin and its decentralized nature, describing it as an anti-social network.

Paul Krugman, one of the most well-known economists currently serving the University of New York as Professor of Economics, was harshly criticized by the bitcoin community.

There are plenty of legitimate economic arguments against Bitcoin. A level of inequality that makes the U.S. look like a “workers’ paradise” is one. The possibility that mining will continue to become more centralized is another. And, while I don’t buy it myself, concerns over the protocol’s deflationary nature are justified if one believes that our collective understanding of economics and monetary policy will be at the same level in 2140 as it is today.