Fiat Mindset Economist Don’t Get Bitcoin

Josef Tětek is a SatoshiLabs and Trezor Brand Ambassador.

It’s a tulip mania, a Ponzi scheme, a bubble about to burst. You’ve heard all of it earlier than. And not simply out of your nocoiner buddies: This narrative has been pushed for years by many well-known economists with a Nobel on their shelf. Why do famend economists fail to notice the worth in bitcoin? It’s not a failure of understanding; it’s a distinction of worldview.

The affect of mainstream economics can’t be underestimated. As John Maynard Keynes mentioned, “Practical males, who imagine themselves to be fairly exempt from any mental influences, are often the slaves of some defunct economist. Madmen in authority, who hear voices within the air, are distilling their frenzy from some tutorial scribbler of some years again.” This suits present financial coverage completely. So, let’s see how the madmen and scribblers view the present economic system — and, due to this fact, society itself.

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About the Author: Daniel