New economic perspectives bitcoin price
But from a money view standpoint, it is the institution of credit that is the real disruptor, which is fundamentally why it is feared, by cryptos and also by the rest of us.
Article By Perry G. Article By Seth Ackerman. Article By Inge Kaul. Article By Lynn Parramore. Explore by… Topic Person Region X. Explore by… Topic Person Region. Papers Programs Partnerships Experts Grants. Commentary Blog Blog Videos Collections. Can Bitcoin Replace the Dollar?
Financial Globalization and its Cryptocurrency Discontents. More from Perry G. As for whether you should invest in Bitcoin, I cannot say. Personally, I would rather buy a lottery ticket. Article By Adair Turner. Article By Lynn Parramore. Article By Lance Taylor. Article By Arjun Jayadev. Explore by… Topic Person Region X. Explore by… Topic Person Region. Papers Programs Partnerships Experts Grants.
Commentary Blog Blog Videos Collections. Should You Buy Bitcoin? Subscribe to Project Syndicate. More from Adair Turner. By contrast, property booms and busts have historically been the most dangerous, because the total value of real estate wealth usually dwarfs equity values, and because real-estate booms are often debt-financed. Regulators should therefore keep a careful eye on any credit-financed cryptocurrency speculation.
But with total cryptocurrency values still equal to just a minute fraction of global real-estate wealth, the overall risk remains slight. Some individual investors will certainly lose their shirts, but the impact on economic growth will most likely be close to nil.
The wider social challenge, however, is to channel human ingenuity into welfare-boosting innovation rather than zero-sum gambling activities.
The distributed-ledger technology underpinning cryptocurrencies can be used to reduce transaction costs and eliminate risks across multiple financial and trading activities. That would be worth doing. As for whether you should invest in Bitcoin, I cannot say. Personally, I would rather buy a lottery ticket. Paper Conference paper By Adair Turner. Article By Adair Turner. Article By Seth Ackerman. Article By Inge Kaul.