Paul Krugman: "Cryptocurrencies - a long-standing Ponzi scheme" – Bits Media

Nobel laureate and crypto skeptic Paul Krugman attacks cryptocurrencies again. He again compared the cryptocurrency market with a financial pyramid..

After the start of a major correction of the cryptocurrency market, new warnings were rained from regulators, large banks and other financial institutions, not so long ago competing in the record forecasts of cryptocurrency growth. The economists of the "old school" decided to remind themselves of themselves.

In his last article
For New York Times, prominent American economist Paul Krugman (Paul Krugman) again turned to the topic of cryptocurrencies. He called the Crypto Activives industry "A long -standing Ponzi scheme". Nobel laureate claims, that Ponzi's schemes are quite capable of working for many years, And as an example, the infamous investment scam leads as an example
Meloniga Meodoff:

“But can Ponzi work for so long? In fact, Yes: Bernie Meidoff realized his scam for almost two decades and could do this even longer, If the financial crisis had not intervened ".

Krugman added, that cryptocurrencies keeps “complex technical terminology and allegations of the inevitable collapse of fiat currencies”. However, the economist compares crypto actual assets with gold and even notes, that “one or two” cryptocurrencies will be able to achieve gold status:

“It is possible, that one or two cryptocurrencies will somehow become the same long-livers, Like gold ".

Moreover, he also claims, that the spread of altcoins can prevent any of them from reaching a “half -tiered” status of gold. Krugman predicts, that the US government can deal with cryptocurrency in the same way, Like in the 1930s with gold.

IN 2018 year Krugman, previously called Bitcoin "evil", that cryptocurrencies are the embodiment of economic regression, which discards the financial system on 300 years ago.