Legendary investor Ray Dalio called crypto a bubble a decade ago; now, he calls it “one hell of an invention.” Larry Fink of BlackRock previously referred to Bitcoin as an index of money laundering; today, he sees it as “a legitimate financial instrument.” During his first term in the White House, US President Donald Trump called crypto “not money, whose value is highly volatile and based on thin air”; less than 36 hours after launching his own cryptocurrency prior to his second inauguration, Trump appeared to have made more than $50 billion on paper for himself and his companies. Amidst this noise of crypto doubters changing tune, Fama joins Capitalisn’t hosts Bethany McLean and Luigi Zingales to discuss why he remains dubious about Bitcoin’s ambitions.

Bitcoin uses more electricity than many countries—around 91 terawatt-hours annually. Is this amount unsustainable? What makes Bitcoin’s value so volatile, and what are the implications for the banking sector and our economy? If cryptocurrencies’ purpose is a reaction to an underlying distrust in financial institutions, can decentralized blockchain, the technological ledger that enables anonymous crypto exchange, fix it? Last but not least, why do supporters of a decentralized service, whose value lies in its existence outside traditional government structures, need to spend billions in lobbying to convince politicians, including the president, of its utility?

(http://www.autoadmit.com/thread.php?thread_id=5831495&forum_id=2]#49662624)

Jami Dimon might be the only high profile guy who has not backed off telling the truth - that crypto is a purely speculative instrument and not an “investment”

(http://www.autoadmit.com/thread.php?thread_id=5831495&forum_id=2]#49662644)

and this dood is 90 years old. just saying.

(http://www.autoadmit.com/thread.php?thread_id=5831495&forum_id=2]#49662641)