On Bitcoin, Cryptocurrencies, and the Decentralization of Wealth

John Smith
2018 Figshare  
The old school -which consists largely of members of the generation that grew up well-prior to the advent of cryptographic currencies- tend to claim that bitcoin is a "bubble" , and seize on every downturn in the price of bitcoin as evidence that the bubble has burst or is about to burst. The bubble never bursts, and all of these anti-crypto arguments -especially the argument that currencies need themselves to possess, or to be based on something with "intrinsic" value, and crypto-currencies
more » ... rypto-currencies have intrinsic value- are fallacious. Here we propose that there are deep mathematical reasons why the conservatives are mistaken, and why cryptocurrencies will increasingly replace their traditional counterparts.
doi:10.6084/m9.figshare.5867073.v5 fatcat:r4acgwfxvrfspnznp5jzepxfbq