RATE Group | Robert Shiller busts the myth of bitcoin’s popularity
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Robert Shiller busts the myth of bitcoin’s popularity

12 Nov Robert Shiller busts the myth of bitcoin’s popularity

Posted at 12:43h in Bitcoin News by

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  • Robert J. Shiller says that bitcoin owes its popularity to the mystery of Satoshi Nakamoto.
  • The viral nature of the ideas behind bitcoin does not prove their validity.

Nobel Prize-winning economist and a Professor of Economics at Yale Robert J. Shiller believes that bitcoin has become popular due to the mystery around the personality of Satoshi Nakamoto.

He believes that the narrative plays an important role in the growing popularity of bitcoin and other digital currencies. Bitcoin’s market value hit $326 billion at its peak due to the stories that float around.

“Bitcoin was a dream in the eye of some computer scientist, and we don’t even know that person’s identity. It was supposedly an individual named Satoshi Nakamoto, but that has never been verified. We don’t even know if he exists. There’s an element of mystery to the narrative, which is important,” he said in the interview with Yale News portal.

The ideas of anarchism and unnecessary of…

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