Is a crypto assets and blockchain trainer in the Boston area.
At a high level, the flaw in their positions is: "I know finance, crypto is finance, so I know crypto." Finance is one of many aspects of crypto.
Treating crypto as "Just another financial instrument" is naive.
If he took the time to learn more about crypto before issuing sweeping statements, Chanos would use the generic term "Crypto asset."
Chanos apparently has crypto asset enthusiasts conflated with survivalists.
The people of Venezuela are not sitting in bunkers hoarding private keys, but they are using crypto assets to work around real, in-your-face, economic woes brought on by an inept government that badly mismanaged its economy and its fiat currency.
Cryptos make their lives better, because the government cannot screw them up, other than by making a bogus national crypto that no one wants.
Even Jamie Dimon, not exactly a crypto fanboy, saw the value of bitcoin in a disaster like Venezuela.
Right on the heels of that story, as if it justifies his conclusion, Chanos closes his crypto rant with "So this is simply a security speculation game masquerading as a technological breakthrough in monetary policy."
Crypto assets are not a technological breakthrough in monetary policy.
Jim Chanos Is Out of His Depth Trashing Crypto Assets
Publicado en Jun 14, 2018
by Coindesk | Publicado en Coinage
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