Debate on Bitcoin

Debate on bitcoin: is it a currency that is going to replace the dollar or is it a classical commodity speculative financial bubble, along with emerging bubbles in stocks, emerging market bonds, and other markets today as the global economy enters a late credit cycle. Is it driven by techies and philosophy nerds, or is it driven by retail buyers in Asia buying on margin. What are the contagion potentials to other financial asset markets. Is it an answer to the massive central bank liquidity explosion of recent decades or is it just another reflection of the flood of currency ($25 trillion) by central banks.

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