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Home / Do You Know? / This Nobel Prize-Winning Economist Wants to Ban Bitcoin

This Nobel Prize-Winning Economist Wants to Ban Bitcoin

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We all know very well that the cost of popular cryptocurrency Bitcoin has seen massive development this year. But, it has come to know that its rising price is not just a thing which has suddenly increased as recently, a famous economist Joseph Stiglitz said that he wants to ban popular cryptocurrency Bitcoin.

This Nobel Prize-Winning Economist Wants to Ban Bitcoin

Less than 24 hours of $ 10,000 per coin business, Bitcoin continued its upward trend and crossed $ 11,000 on Wednesday, while a well-known Nobel Prize-winning economist belled the investor’s alarm, what may be a bubble waiting to burst.

cryptocurrency Bitcoin is popular increasing digital currency. In spite of some losses in the last hours, the digital currency has set a figure of $ 11,000 and it has given some depth to the people in the financial sector.

Bitcoin
Credit: www.thesun.co.uk

Bitcoin’s price record is hitting the highest point. Recently, we told that after crossing the $ 9,000 mark, the popular Cryptocurrency Bitcoin crossed the $ 10,000 figure and now as we had earlier told that the now well-known and popular Cryptocurrency Bitcoin has marked an $11,000 mark.

Since only 16.7 million sales are issued, and the market value of this popular cryptocurrency bitcoin reaches to the US $168 billion, which is equal to more than 10 trillion. This is more than two times in circulation in the country.

Bitcoin continues to be “traditional” and continues its trend in current use, it has been found that its rising rate of price is not just one thing which suddenly increases, it is a new research to note that 20 in Europe Popular cryptography now consumes more power compared to more countries.

Economist
Credit: sputniknews.com

After the idea of a famous economist, Bitcoin is not a coin, now Joseph Stiglitz, a US economist and a professor at the University of Columbia, has said that it is time to ban popular cryptocurrency bitcoin for the time being.

In recent times the virtual “currency” Bitcoin has reached and there seems to be a certain threat to the traditional financial markets.

What is Bitcoin?

We can mention in generic terms that it is a virtual currency created in 2009 based on a peer-to-peer (P2P) system. P2P is a system which does not provide for the centralized authority to control currency or transactions along with other currencies (for example, the INR. is RBI is regulated by the Reserve Bank) Instead, money Creating and transferring are based on an open source network in encrypted protocols that form the basis of the security and freedom of bitcoin , Which make transactions between users instantaneously.

what is bitcoin
Credit: BitcoinsBest

The invention of a mysterious computer guru, who referred to his surname named Satoshi Nakamoto, this popular cryptocurrency bitcoin has actually been created through a very complex mathematical formula.

The invention of a mysterious computer guru, who referred to his nickname Satoshi Nakamoto, this coin was created through a very complex mathematical formula.

Nobel Memorial Prize in Economics and Bloomberg Clarke Medal, Joseph Stiglitz, who spoke on Bloomberg TV on Wednesday, said that the only benefit of popular cryptocurrency, Bitcoin, is its ability to be used for tax evasion, and it is also a fact that by inspection Is free

Not only that, even the well-known economist who is the recipient of the Nobel Memorial Prize in Economic Sciences and the John Bates Clark Medal, Joseph Stiglitz also said that this popular cryptocurrency is a bubble that gives exciting moments due to its values reduces.

So, what do you think about this? Simply share your views and thoughts in the comment section below.

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