Generational Dynamics Forum - New Site

Higgenbotham wrote: Thu Mar 25, 2021 10:29 pm My guess is the best bet to determine whether Bitcoin has value or is a bubble is to find the opinions of Nobel Prize winning economists and to critically think about the reasons they give. One may agree or disagree with those reasons. To that end, I found many Nobel Prize winning economists who have weighed in on this topic. There's no scarcity of information in that regard.

I just finished going through everything I could find from Nobel Prize winners in Economics. In particular, I was looking for opinions from people who are not very prominent in the media, people other than Shiller, Krugman, and Stiglitz. I found several besides those, around 6. Mostly, I would characterize them as hesitant to say much. The best example of such responses I can think of is here: https://finance.yahoo.com/news/good-dru ... 03784.html I couldn't tell for sure from reading these types of articles whether they generally think the issue is simple and needs no further explanation or whether it seems too difficult for them to say much more, but it seems to be the latter. I wasn't able to glean any new ideas from any such articles.

Cool Breeze wrote: Mon Mar 29, 2021 11:09 pm

Higgenbotham wrote: Thu Mar 25, 2021 10:29 pm My guess is the best bet to determine whether Bitcoin has value or is a bubble is to find the opinions of Nobel Prize winning economists and to critically think about the reasons they give. One may agree or disagree with those reasons. To that end, I found many Nobel Prize winning economists who have weighed in on this topic. There's no scarcity of information in that regard.

I just finished going through everything I could find from Nobel Prize winners in Economics. In particular, I was looking for opinions from people who are not very prominent in the media, people other than Shiller, Krugman, and Stiglitz. I found several besides those, around 6. Mostly, I would characterize them as hesitant to say much. The best example of such responses I can think of is here: https://finance.yahoo.com/news/good-dru ... 03784.html I couldn't tell for sure from reading these types of articles whether they generally think the issue is simple and needs no further explanation or whether it seems too difficult for them to say much more, but it seems to be the latter. I wasn't able to glean any new ideas from any such articles.

Ok, what are their assertions? I still haven't seen you say much in the way of real criticism, or even use these "Nobel Prize winners" as your backing.

I think you found that they don't actually know all that much, or are too old to care, like most of the people who say stupid shit about BTC.

“I think [2011 Nobel laureate for economics] Chris[topher] Sims gave a talk and I think he said it should have a zero price, which is basically what I think.”

“Tulips,” interjected Heckman, referring to the speculation that drove tulip mania in 17th century Netherlands.

Other Nobel laureates have taken a similarly dim view of bitcoin and cryptocurrency.

Higgenbotham wrote: Tue Mar 30, 2021 12:37 am > That's how most Nobel Prize winners in Economics respond when
> being asked about Bitcoin.

John wrote: Tue Mar 30, 2021 11:17 am ** 30-Mar-2021 World View: Economists

Higgenbotham wrote: Tue Mar 30, 2021 12:37 am > That's how most Nobel Prize winners in Economics respond when
> being asked about Bitcoin.

You apparently have more faith in Nobel Prize winning economists than
I have. In my experience, they're pretty much all idiots and have no
idea what they're talking about.

Higgenbotham wrote: Tue Mar 30, 2021 12:11 pm > Most of them (besides Shiller, Krugman and Stiglitz) I'd never
> heard of.