• Donvan, Tett, and Posner
    Bitcoin,  Innovators

    How a group of pro-free market types lost their faith in bitcoin in just an hour

    Two bitcoin millionaires lose a debate with an editor and a law professor

    A lively afternoon debate of some of the top minds in business, finance, technology, and law left its hitherto bitcoin-friendly audience with some serious FUD: fear, uncertainty, doubt. The Manhattan Institute’s Adam Smith Society—a group of free market-advocating MBA students and business people—hosted the lively debate Saturday with Intelligence Squared U.S. at its national meeting. The proposition, “Bitcoin is more than a bubble and here to stay,” was supported by legendary venture capitalist Tim Draper and Overstock.com CEO Patrick Byrne. On the opposition side was Financial Times U.S. managing editor Gillian Tett and University of Chicago law professor Eric Posner. Going into the discussion, a slim plurality (39 percent) of…