Bitcoin misunderstood with confidence in Steve Hank

Johns Hopkins University economist Steve Hank is well known for posting numerous variations in the Bitcoin community. Same tweet – “Bitcoin is very volatile and its default value is 0.” (I suspect he still hasn’t read my article on how to think about the value of Bitcoin.)

But in a recent opinion piece, “How innovative is crypto?”, Hank tried his hand at some new arguments. The essay is subtitled, “Things are thin in the case of crypto as a driver of innovation.” In it, Han offers to show that cryptocurrencies are not innovative. Here, I show how he fails.

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