Bitcoin evangelists tout digital currencies as revolutionary, a technology that could reshape the global monetary system. Pioneered because of a lack of faith in traditional banking, cryptocurrencies will become the new global currency, gold for a millennial age, some devotees argue. However, the Nobel Prize–winning economist Paul Krugman says that this feverish enthusiasm is ill-informed and that a full-scale collapse of bitcoin BTCUSD, -1.00% is a real possibility, arguing that cryptocurrencies aren’t solving any problems in the current monetary system, which already boasts seamless and low-cost transactions.via