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Posted on: March 2nd, 2018 by RaduC No Comments

Cryptocurrencies are not currency, but cryptoassets

04-04-2021 8:15 pm

My guest this week is Cristian Popa, the well-known and highly esteemed deputy governor of the National Bank of Romania between 1998 and 2014. RC: Cristi, thank you for the kindness of accepting my invitation. In your opinion, are cryptocurrencies an economic or a social phenomenon? CP: They are primarily an economic phenomenon because they have become so widely used due mainly to the higher yields caused by rising prices. Unfortunately, one issue is that too many people mistake them for money. They are not money, but rather speculative financial assets, resembling more alternative investments that undergo extreme bouts of volatility. Let me now explain why they are not money. Let us go back to the economics textbook that lists the three main functions of money: a medium of exchange, a unit of account, and a store of value. Let`s take them one by one. Are cryptocurrencies a medium of exchange?

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Cryptocurrencies are not currency, but cryptoassets

04-04-2021 8:15 pm

My guest this week is Cristian Popa, the well-known and highly esteemed deputy

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This post will fuel conspiracy theorising. But I cannot help noting an effort,

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