NYT opinion columnist Paul Krugman called cryptocurrencies a 'scam' and compared it to the 2008 housing bubble in an op-ed Monday.
‘Coin Stories’ podcast host Natalie Brunell shares her thoughts on the current state of Bitcoin on ‘Tucker Carlson Tonight.’columnist Paul Krugman labeled cryptocurrencies a ‘scam’ in an op-ed published Monday. The piece, titled"From the Big Short to the Big Scam," compared cryptocurrencies to the 2008 housing bubble that contributed to the Great Recession.
"Even though there was clear evidence that housing prices were out of line, it was hard to believe they could be"It just didn’t seem plausible that markets, and the conventional wisdom saying that markets were OK, could be that wrong," Krugman recalled."But they were. Which brings us to the current state of crypto.
"They also ask why, if crypto is the future, Bitcoin — which was introduced in 2009 — has yet to find any significant real-world uses," he continued and wondered if there are"legitimate applications" of crypto besides illicit activities.
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