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Another fundamental prerequisite towards the end of the digital currency depression

Neil Ferguson, a well-known economic historian, once called TIME magazine one of the most influential person in the world, admitted that he had previously unfairly criticized bitcoin. According to Trustnodes, the British historian admitted his mistake on Tuesday at the Australian business summit on Finance.

"It was a mistake to think that a currency based on blockchain technology has no way of application," Ferguson said.

About bitcoin expert learned 5 years ago. Then Ferguson, who knows the history of money, immediately rejected the idea of a digital currency. But now he realized how wrong he was. At the same time, the expert does not worry about the bear market at all and says that bitcoin is still very far from zero.

Now Ferguson joined the project, which is trying to implement the idea of Friedrich Hayek, expressed in the "Denationalization of money." Hayek believes that money should try to maintain its purchasing power in the long and short term, so that $ 1 today buys about the same amount of goods as, say, a decade.

According to Hayek, it is impossible to achieve, until the money are controlled by Central banks.