Summary of The Crypto-Asset Bubble

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The Crypto-Asset Bubble summary

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Journalist Yang Yanqing gathers a panel whose opinions on cryptoassets range from wariness to evangelism. Nobel Prize-winning economist Robert Shiller and Swedish central bank deputy governor Cecilia Skingsley warn investors to proceed with caution. Cryptoasset enthusiast Jennifer Zhu Scott urges full steam ahead. Technology investor Neil Rimer takes a measured pro-bitcoin stance. Just weeks after this Davos 2018 panel, bitcoin made headlines when its price dropped dramatically. Thus, getAbstract suggests this timely talk to investors and financial professionals.

In this summary, you will learn

  • Why you should view bitcoin as an asset, not a currency; and
  • What to consider before investing in bitcoin or other cryptoassets.
 

About the Speakers

Robert Shiller is a professor at Yale. Cecilia Skingsley is deputy governor of the Swedish central bank. Jennifer Zhu Scott is a principal at Radian Partners. Neil Rimer is a general partner at Index Ventures.

 

Summary

Surveying the rubble of the 2008 financial crisis, Satoshi Nakamoto envisioned a secure, decentralized system for peer-to-peer payments. The result was bitcoin. In 2018, some 1,000 cryptoassets feed the peer-to-peer economy. Yet they aren’t the first efforts to revolutionize how people exchange value. In 1879, astronomer Simon Newcomb proposed the “compensated dollar.” And in 1967, Chile launched a digital payment system called the unidad de fomento as a stable alternative to paper money.

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