Tyler Cowen |
He said that institutional investors did not necessarily have to adopt cryptocurrencies and that they could adopt cheaper ways of making transactions or handle assets. Tyler added:
Whether Bitcoin and cryptocurrency can outcompete that, well… Bitcoin is a highly flexible system, in some ways, until you have a fork, I suppose I would bet on the payments companies.Tyler has a sound point but Bitcoin and other cryptocurrencies have many other problems.
-RW
UPDATE
More Cowen panel comments:
I think there's a 40% chance [that crypto] will be a niche thing for initially a-legal applications, a fifteen percent chance that blockchain really takes off and is a next big thing, because it organizes all different features of the economy as a new kind of governance; and then the rest of the probability is that it just dwindles and becomes a hobby. (via CrtptoGlobe)
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