Paul krugman bitcoin new york times
The sudden surge and rapid downfall predictably turned into a media frenzy and social media free-for-all. The floor has not yet fallen out of the market and one analysis showed bitcoin gets a price correction once per quarter.
If I buy a stock, I get dividends and if the company earns more money, the value of the company goes up and I have a piece of that company, I own a piece of stock, I have something tangible.
This just looks like the greater fool theory writ large. When the music stops, there will be a lot of people without chairs to sit in.
In a more recent column, industry observer Christopher Whalen wrote: Participants paul krugman bitcoin new york times a paul krugman bitcoin new york times tender dollar or some other real asset, for example, for a share of the limited supply of bitcoins at whatever the current price may be at the time. The participants exchange something for nothing — namely bitcoin, which have no intrinsic value or yield, but which trade over the world of ethernet, outside of the regulated world of banks and financial payments.
Several exchanges, including the Chicago Mercantile Exchange and more recently E-Trade, have begun allowing bitcoin futures trading.
Some banks are already beginning to treat it that way. Goldman Sachs revealed plans on Thursday to begin buying and selling cryptocurrencies like bitcoin as early as June, though many details remain to be worked out.
Bitcoin devotees believe it is the future of currency. Steve Gordon, professor of information technology management at Babson Collegeexpects some cryptocurrencies, not necessarily bitcoin, to be accepted as currency.
Is it really a currency anymore? The answer is no. Editor at Large Penny Crosman welcomes feedback at penny. Goldman Sachs is set to open a trading desk for paul krugman bitcoin new york times next year, a sign of how bitcoin's dramatic rise in value has attracted Wall Street. Article Underwriting self-employed borrowers Freddie Mac helps lenders to better serve this expanding market segment.
Partner Insights Sponsor Content From: Posted by Lawrence Baxter. Bitcoin is complete nonsense. Paul krugman bitcoin new york times say, as one analyst brazenly said on public radio this morning, that one is really investing in the underlying technology Blockchain and that therefore Bitcoin has worth as a currency or even as an underlying for a derivative is like saying one should invest in Webvan because the underlying technology is the Internet.
We all know where that advice went, don't we? The CFTC was irresponsible to allow the changes to self certify. Bitcoin appears to be a digital ponzi scheme. Stay tuned for some Financial Theater - As the curtain closes, tulips will rain down on the stage! Like what you see? Make sure you're getting it all Independent and authoritative analysis and perspective for the banking industry.
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