From Investopedia
When it comes to the future of cryptocurrencies, even Nobel Laureate, Ivy League professors aren't quite sure what to say. (See also: Bitcoin Price Falls Into Correction Territory.)Read more: https://www.investopedia.com/news/yale-economist-believes-bitcoin-bubble-could-last-100-years/According to a report by Coin Telegraph, Yale University economics professor and Nobel Prize recipient Robert Shiller admitted that he "doesn't know what to make of bitcoin, ultimately." Previously, Shiller had pointed to the top digital currency by market capitalization as "the best example of a bubble."
Bitcoin May Be a Long Bubble
Shiller spoke about his uncertainty in a recent interview, suggesting that "[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."
If it lasts 100 years was it ever a bubble? It seems like the analogy breaks down at that point and also if it were to last over 100 years who's to say it would ever pop or collapse after that?
Leave your thoughts in the comments below.
Follow @contentjunkie to stay up to date on more great posts like this one.
"[bitcoin] might totally collapse and be forgotten, and I think that's a good likely outcome"
Why is it a good likely outcome Mr. Nobel? Any bias or self interest?
Thanks for sharing this news.. i like bitcoin..i appreciate your news....
Now thats funny !
I posted this the other day !
https://steemit.com/bitcoin/@crypto4iso/even-if-it-takes-100-years
As i see it Blockchain tech will never dye unless of a major solar flare that screws up the whoe electric systems :)
In other words, Shiller has no clue about his own subject, as usual. His predictions: 5 + 3 = between 0 and 70. Would a student who answered like that be given any points?
That's about sums it up I guess.
Now we know that Bitcoin is going to outlive this guy and Noble Laureates decline in their old age like regular people.
You can no more call it a bubble if it lasts for 100 years or more. It will just be advancement based on the need of time. 100 years down the line, world will change, who knows what does global warming bring for us.
haha how long fiat money bubble will last which is backed by nothing
You're so nice for commenting on this post. For that, I gave you a vote! I just ask for a Follow in return!
Now this i very much believe!
Its the reinvention of money within the most appropriate time of modern society and i see no reason why the majority of the populace(millennials) who hold more sway than the government by sheer size wouldn't view bitcoin as being more valuable than any invention of the century hence buying into it. Money is a system held together purely by faith and if the greater society then believes in bitcoin as a payment system(its getting there) a hundred years is quite modest.
Kindly follow back
WAKE UP PEOPLE, they are covering BITCOIN in the mainstream media THAT THEY OWN. Bitcoin is like a pile of feed in the middle of a field and NO ONE knows how it got there, but the hunger and greed overwhelms the animals. Maybe a few realize this and grab a bite to go, but the in the end we all know what’s going to happen.
Exactly! a bubble that lasts 100 years?? 100 years doesn’t sound unstable. Do you think people thousands and thousands of years ago said oh gold is just a fad?
"it could linger on" doesn't exactly sound like he thinks it would stick around at its current price. If only the die hard anarchists are still using it 100 years from now while everyone else has moved onto IOTA or something else then yes, this was a bubble. :P
8.72% @pushup from @contentjunkie
Sneaky Ninja Attack! You have been defended with a 9.59% vote... I was summoned by @contentjunkie! I have done their bidding and now I will vanish...Whoosh