Nobel laureate economist Paul Krugman expresses skepticism during a debate with a16z crypto general partner Katie Haun regarding the long-term viability of cryptocurrency.
Prediction Not checkable as stated
Krugman: Significant probability Bitcoin's value eventually drops to zero
“Now, I'm not a hundred percent sure of that, but maybe, ah, ah, but I think that there's a certainly a, I would say a quite significant probability that the whole thing just drops to zero, ah, because I have not yet seen any reason why this has to be a valuabl…”
Opinion
Paul Krugman says crypto offers no unique utility over traditional methods
“It's not at all clear even now that there's anything that you can do with crypto that you can't do other ways. But, you know, obviously if something comes along that I, I'm happy to see it, but I don't see it now.”
Opinion
Paul Krugman argues Bitcoin mining energy efficiency gains are self-defeating
“Bitcoin is what people are owning now in large value, and any gains in energy efficiency just gets swallowed up very quickly. You just push further into that margin, and it, ah, it, it's, ah, it's a self-defeating form of progress.”
Prediction Didn’t hold up
Paul Krugman predicts only one or two cryptocurrencies will survive
“There will not be 1600 cryptocurrencies out there. There will be one or two.”
Opinion
Krugman: Crypto uses advanced tech to regress monetary history 300 years
“From the point of view of monetary economists, we're exploiting cutting edge, ah, computer science, ah, to set the clock back 300 years.”
Opinion
Krugman: Crypto replaces institutional trust with digital gold-biting
“So, the interesting thing about all of this shift to cryptocurrency is it's saying, let's throw away This technology, it's more, it's a social technology rather than a, you know, a mathematical technology, but let's throw away the social technology of repeated…”