Be patient with him: heβs already taken the first important step - admitting he was wrong. Now heβs digging into why, and what this Bitcoin thing is all about, realizing he formed an opinion about it too hastily. There are many different paths that lead down the rabbit hole - I know from experience.
With most people, I would agree with your sympathetic approach
But he's a "Harvard economist", and he has had ten years to do the research to earn his presumably-very-high salary. Before sending that tweet, he could have reached out to Bitcoin experts to really understand where he had made (and is still making) mistakes
Anyway, this is all extremely bullish for the BTC price. The current price is low because of all this ignorance π
I don't think that's true. It's possible to simultaneously be pro-Bitcoin and also believe in Keynes's approach for the pre-Bitcoin world
There will be multiple fiat currencies in use, alongside Bitcoin, for multiple decades to come and it's not clear how best to manage that. It'll be a new world, and I don't think we can blindly accept or dismiss any existing approach. Austrian economics might not be the perfect approach, even though some bitcoiners love it
"What did I miss?"
When the powers that be kick you out of the Cantillionaire club, there is no alternative.
apnews.com/article/harvard-antisemitism-federal-grants-trump-3c8e4d2d3fa0c5083d98250078f95d00
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He's talking about Monero without knowing it. Bitcoin is just an extension of TradFi these days.
Wait till Monero wakes up and destroys their house of cards.