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The Bitcoin Fountainhead

Daron Acemoglu

While it is clear that cryptocurrencies are here to stay, it remains to be seen what economic role they will – or should – play. In the case of Bitcoin, the technology's success lies entirely in what it promises, rather than in what it can actually deliver.

CAMBRIDGE – With the price of Bitcoin reaching new highs, and El Salvador and Cuba deciding to accept it as legal tender, cryptocurrencies are here to stay. What implications will this have for money and politics?

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