Bitcoin will ‘Totally Collapse’, even Though if it Takes 100 years

Nishanth Shetty

Nishanth Shetty

January 20, 2018 7:39 am

Bitcoin will 'Totally Collapse', even Though if it Takes 100 years | Coindelite News
1
104537 Total Views

Even if the bitcoin head towards 100 years, it will fall entirely. A Nobel Prize Winner says

Nobel laureate Robert Shiller is moderately confident regarding bitcoin fall, he says, bitcoin will totally collapse, but he’s not quite sure when that collapse will happen.

Shiller, a Yale University professor who has won the Nobel Prize for Economics in 2013, told CNBC that bitcoin will  “totally collapse and be forgotten,” anyhow it could remain for as long as 100 years.

Shiller told:

“It reminds me of the Tulip mania in Holland in the 1640s, and so the question is did that collapse? We still pay for tulips even now and sometimes they get expensive. (Bitcoin) might totally collapse and be forgotten and I think that’s a good likely outcome but it could linger on for a good long time, it could be here in 100 years.”

Shiller told that bitcoin has no value outside of the “common consensus that it has value,” which makes it different from gold and other commodities.

He included:

“It has no value at all unless there is some common consensus that it has value. Other things like gold would at least have some value if people didn’t see it as an investment,” he said, adding that he “doesn’t know what to make of bitcoin ultimately.”

1 Comment
Costa Rican Employees are Getting Paid Legally in Bitcoin

Costa Rica which is located in Central America and ranked as one of the most visited international destinations is now open to Cryptocurrencies like Bitcoin. Costa Rican Employees has grabbed an opportunity to get paid Legally in Bitcoin. The national legislation specific provisions allow companies to pay their workers including …

Facebook Allows Cryptocurrency Ads for Coinbase

A few months back, several technology giants decided collectively to ban crypto-related ads. The list included Facebook, Twitter, Microsoft, and Google. The move was enforced as a means to curb scams and illegal activities that were conducted through the platform. After imposing a ban on cryptocurrency ads, Facebook has allowed …

An Expert says XRP is Not a Real Cryptocurrency

The cryptocurrency industry still faces arguments over XRP whether it is a security and it has remained as a famous debate. But, now an expert said XRP is not even a “real cryptocurrency,” and SEC will be issuing its official statement whether it considers XRP as security. We recently published …

Supreme Court of India Postpones Crypto Banking Ban to September

Indian Supreme Court has decided to postpone the case on Banning the cryptocurrency firms from receiving banking services that are appealed by Reserve Bank of India’s (RBI) The local news channel Inc42 has published a report saying that decision on the ban has been postponed to September 2011. The board of judges …

CBS’s Showtime is Mining Cryptocurrency using Visitors’ CPU Power

An increasing number of websites have been found secretly mining cryptocurrency. Earlier this week, Change.org launched a screensaver that mined Monero when the user’s PC is inactive. This is a great way for websites to generate revenue and the end-user does not need to pay the website or encounter ads, instead, …

Importing Crypto Mining Hardware Suspended by The State Bank of Vietnam

The State Bank of Vietnam (SBV) is the Central bank of the country. On July 19, 2018, Viet Nam News reported that the bank enforced a suspension on the import of cryptocurrency mining hardware. This move comes after the Ministry of Industry and Trade (MoIT) suggested that the import of crypto …