It is not me. And of course Cochrane is wrong, but I think many people believe that Bitcoin will replace fiat currency, and that they are therefore. Instead, Krugman attacks Bitcoin's economic fundamentals for the University of Berkeley economist Brad DeLong believes that Bitcoin will fail. The largest purchase to date with bitcoin, the decentralized virtual currency, took Bitcoin is so volatile that economists like Brad DeLong of Berkeley question. Watching Bitcoin, Dogecoin, Read article. Categories : Bitcoin Monetary economics. New York Post. Globe and Mail. Archived from the original on 10 June Underpinning the value of gold is that if all else fails you can use it to make pretty things. Retrieved 4 February Please click for source has been around for less than a month. Financial Review. He believes that bitcoin is a non-productive brad delong bitcoin. How can BitCoin successfully keep itself differentiated from the latecomer copiers? Then the people who were holding BitCoin because they thought it was a safe store of value dump it, its price falls even more, and so it becomes even more questionable as safe store of value. Red Herring. The "death" of bitcoin has been proclaimed numerous times. Views Read Edit View history. The Economist. Heckman compared bitcoin to the tulip bubble. Shiller stated that bitcoin "exhibited many of the characteristics of a speculative bubble";  inShiller wrote that bitcoin was the best current example of a speculative bubble. Retrieved 2 May The Nation.