The former chief economist of the World Bank and Nobel Prize Laureate in Economics, Joseph Stiglitz, is convinced that the problems for which bitcoin has been created never existed. The only characteristic that, in his opinion, is of interest to bitcoin users is the anonymity of transactions.
"We have a wonderful medium of circulation - the US dollar. We can safely trade them. Why do people need bitcoin? Only for secrecy, "Stiglitz stressed.
The economist is sure that the world banking system is moving to full-scale adaptation of electronic payments, however, bitcoin is absolutely unnecessary for this.
"If regulators put an end to the use of bitcoin for money laundering and other illegal activities, the demand for it will evaporate. As soon as the opportunity to use it for illegal purposes is lost, bitcoin will cease to exist forever, " said Stiglitz
Fellow Nobel Prize winning economist Robert Shiller, who in September 2017 described Bitcoin as the best example of a bubble, went on record to say he doesn’t know what to make of Bitcoin ultimately.