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| Global crypto press | Federal Reserve Bank of Chicago. Nobel laureate Richard Thaler emphasizes the irrationality in the bitcoin market that has led to the bubble, demonstrating the irrationality with the example of firms that have added the word blockchain to their names which have then had large increases in their stock price. Journalists Paul Vigna and Michael Casey, in their book The Age of Cryptocurrency , described the libertarian view of bitcoin as closer to metallism , the economic philosophy that views money as a commodity, while they predicted that a larger influence on bitcoin would come from bitcoin's use as a disruptive payment system, which they equate to chartalism. Now, three prominent economists have recently added their names to the list of experts predicting that bitcoin will fizzle. Classification of bitcoin by the United States government is to date unclear with multiple conflicting rulings. |
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