“If history is any guide, privately created money such as bitcoin or any other blockchain-based currency is unlikely to become globally accepted without a trusted central authority.”

The truth, Mr. Baur, is that bitcoin already is globally accepted. It may not be the currency of the masses, but there is no place on earth where bitcoin has no value.

As a matter of fact, you are far more likely to find a business that accepts payment in bitcoin than you are to find one that accepts payment in gold.

Does Professor Baur make any valid points? Feel free to share your opinions in the comments.


Images via University of Western Australia (UWA), Pixabay