“We know that bitcoin itself is a complete failure and shows the number one law of programming and software: that anything that can be programmed can be hacked. So nothing is completely secure,” said Willem Buiter, Citibanks’s chief economist at the World Economic Forum in Davos.
BTW, Buiter may prove correct here but he is also a hater of cash.
-RW
Did anyone tell him Citibank tracks all its assets and conducts global money transfers using computers that are programmed with software? Guess not.
ReplyDeleteI'll trust Citibank's chief economist to inform me about the nature of money the same day I trust the Fed to inform me about how to run a stable economy.
If everything that can be programmed can be hacked, and therefore is a failure, then I guess the internet is a failure.
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