- Paul Krugman, Nobel Prize winner and author, encountered issues with a centralized payment processor Venmo.
- He was criticized by bitcoin proponents who suggested that the importance of censorship-resistant payment systems such as Bitcoin were being realized.
- Krugman’s issue was eventually resolved after tweeting about it.
Nobel Laureate Experiences Payment Issue With Venmo
Nobel Prize winner and author Paul Krugman experienced issues with a centralized payment processor Venmo. His tweet was followed by criticism from bitcoin supporters who argued that he was now realizing the importance of censorship-resistant payment systems such as Bitcoin.
Censorship-Resistant Payment Systems Gaining Popularity
The growing interest in censorship-resistant payment systems has been highlighted by Krugman’s experience with Venmo. He tweeted about his frustration and the thread quickly became filled with comments about bitcoin. Billionaire Mark Mobius also detailed his own difficulties in getting funds out of HSBC China, which were also criticized by bitcoin enthusiasts.
Krugman Criticized By Bitcoin Proponents
Despite numerous statements from bitcoin fans, the economist did not respond to them directly. One individual quoted from the bitcoin white paper saying „Try a purely peer-to-peer version of electronic cash that would allow online payments to be sent directly from one party to another without going through a financial institution“.