Another ‘nocoiner’ academic has lent his voice to the Bitcoin doomsday FUD, calling Bitcoin a “con.” Since the emergence of cryptocurrency into the public sphere, there has been no shortage of critics and unbelievers. From Warren Buffett to Charlie Munger, and even Bill Gates, numerous notable figures in the global business scene have thrashed virtual currencies.
Gary Smith, an Economics professor at Pomona College, says that Bitcoin has no fundamental value. Berkshire Hathaway chief, Warren Buffett have made this same argument. Smith contends that as an investment, Bitcoin is a “bitcon.” The Econ professor based his declaration as follows: