Paul Krugman, well known economics shill for the Obama administration, has written yet ANOTHER article bashing Bitcoin (and I suppose, by default, all other cryptocoin).
It's obviously written for very stupid people but if you want to lower your standards here it is.
Although I don't know Mr. Krugman personally I feel as though I should address him as "Paul." This is not out of any kinship I might feel towards him. Rather, it's the correct way to address someone who has already proven time and time again that he is well behind the curve when it comes to innovative economic theory and needs to be comforted with a "There, there, Paul, keep trying, one day you might get it right, Paul."
So, a quick re-cap: as usual with Paul's Bitcoin comments he thinks it's doomed to failure. He thinks it can't possibly have a place in the world's economy. He thinks everyone who believes in cryptocoin is dumb by default because that's Paul's condescending writing style.
Paul, I wonder if Western Union or Moneygram think cryptocurrencies are dumb? Perhaps you'd like to purchase some shares in those corporations as your way of putting your money where your mouth is? The future sure looks GREAT for them....
How about Visa, Mastercard and American Express? Do you think they think there's no place for Bitcoin and other cryptocoin or do you think they might very well be working on strategies to incorporate the cryptocoin revolution into their future planning? Or, maybe laying some people off?
And, Paul, what about huge retailers such as Amazon, Target, Walmart, Ebay and countless others? You know it'll only take ONE of these giants to embrace the cryptocoin revolution to turn your opinion of Bitcoin into the same discredited and ridiculous opinion you had about the Internet a few years ago. How did that work out, Paul?
Remember this column, Paul, in a couple of years. You're going to look awfully stupid, even to your dreamy eyed "Paul is God" column readers.
Epilogue: Interesting ....I read a lot of the readers comments after this latest Krugman Kalamity and there are a fair sprinkling of Bitcoin aficionados in amongst the "Paul Can Write No Wrong" worshippers. Normally dissenting views are largely missing from Krugman reader comments. Maybe the censors have had enough....