Nobel Economist Labels Bitcoin “A Financial Black Hole”

" Eugene F. Fama, a Nobel Prize-winning economist, sees zero value in Bitcoin, calling it nothing but an empty vacuum. Appearing on the Capitalis’t podcast, Eugene Fama delivered his verdict: Bitcoin is doomed. While the crypto world has heard plenty of these eulogies before, Bitcoin continues to defy the odds. Fama ridiculed the idea of a blockchain-based financial system, likening it to boiling soup over a fire made from plastic bottles—expensive, inefficient, and environmentally reckless. He sees Bitcoin as a wild card in monetary theory, unpredictable and undeserving of attention. And the idea that it’s “digital gold”? He’s not buying it.  “Cryptocurrencies are such a puzzle because they violate all the rules of a medium of exchange,” Fama said. “They don't have a stable real value. They have highly variable real value. That kind of a medium of exchange is not supposed to survive,” he concluded." *Is E. Fama right about Bitcoin being worthless, or is he way off? What do you think guys?* # [The source](https://coinomist.com/news/nobel-economist-labels-bitcoin-a-financial-black-hole/)