The book “Bitcoin: The True Story of Money” by Thomas Barbusca argues that cryptocurrencies are a hoax.
Barbusca, an economist at MIT and a regular contributor to Forbes, has written multiple books, including “Cryptoomics: How the Future of Money Will Look.”
The book argues that money is not real, and instead is a digital invention that has been designed by banks and governments to boost economic growth and help the wealthy.
Barbsca said he believes that bitcoin is the “most misunderstood cryptocurrency.”
“I think it’s the most misunderstood because it is not a digital currency,” Barbsca told The Verge.
“It’s a computer program that uses cryptography to make transactions in a way that no one else can do it.
It’s like a credit card.
It doesn’t have any value.
It has no value in the way that credit cards have value.
Bitcoin is not that.”
Banks and governments use the cryptocurrency to help regulate the financial system.
Barbsc said that bitcoin’s creators didn’t create it, but rather created it.
“They’re the ones who have created the bitcoin, and they are the ones that are controlling it,” he said.
Barbersca has also written about the rise of the cryptocurrency craze, and has also spoken out against “social justice warriors” who are taking credit for the cryptocurrency boom.
In “Bitcoin, The True History,” Barbersca argues, bitcoin’s popularity and its recent surge in value are fueled by the mainstream media.
He said that the mainstream press is “using the internet and social media to promote and sell bitcoin” and to promote the concept that bitcoin “is going to revolutionize finance.”
Barbsc argued that this media hype is not fair because he has been criticized by other economists for claiming bitcoin is real.
“It’s unfair to me because I’ve been criticized for using the internet to spread misinformation and misinformation,” Barbysca said.
“I have been criticized in the mainstream for being a cryptoeconomist.
It is not my place to make these claims.
The fact that you have people spreading misinformation about bitcoin is not in my nature.
It seems to be a tactic that I have to engage in, because I have been in the field for 20 years and I’m a veteran economist.”
Barber is not the first prominent economist to have expressed doubts about bitcoin’s legitimacy.
In “The Cryptocurrency Revolution: How Big Data is Destroying Democracy,” author John Taylor writes that Bitcoin is a scam and “it has no intrinsic value.”
Taylor also said that, while bitcoin’s value has been inflated by its hype, it is “far from worthless.”
He pointed to bitcoin’s recent increase in value, and noted that it has risen more than 5,000 percent since the beginning of 2017.
Barber also has written about his belief that the blockchain, a way to record and verify transactions, is a fraud.
He wrote in the book that, according to his research, blockchain technology is not even legitimate, and it “does not offer any new features that would make it useful to banks or other financial institutions.”
Barbersc said he will continue to be skeptical of blockchain technology.
“The blockchain is not an innovation, it’s an invention,” Barber said.
“If you use the blockchain as a system to record transactions, it does not offer the features that make it interesting to a bank or a credit union.”
He added: “It is a very, very interesting idea, but it does have serious limitations.
It can’t do everything that it promises to do.”
Bordersca said that while he has no doubt that bitcoin will one day be a “world-changing currency,” he believes it will likely take decades before bitcoin truly becomes a viable currency.
“I don’t think it will be a world-changing technology,” he added.
“In fact, I think it could be a very serious and potentially devastating technology that could hurt the global economy.”
For more on bitcoin, check out the video above.