This week’s IGM Economic Experts Panel statement:
A substantial source of the value of decentralized private cryptocurrencies, such as Bitcoin, arises from their convenience for use in illegal activities.
Keyword: tulipmania
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This week's IGM European Economic Experts Panel Statements:
A) Bitcoins are more similar to gold than they are to currency.
B) Bitcoins are more similar to gold than they are to Dutch tulips in the 1630s.
This week’s IGM Economic Experts Panel statement:
A bitcoin's value derives solely from the belief that others will want to use it for trade, which implies that its purchasing power is likely to fluctuate over time to a degree that will limit its usefulness.
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