Bitcoin Rebuttal Part 2 Pipe Transactions
My quick notes: Nielsio Good guy, stuck in old world thinking, I hear you are blocking commenters on your site, thats a no no Starts out by explaining bartering says gold has unique physical charc. says gold is a commodity Says dollars, just a piece of paper end user are tax payers. Dollars are backed up by government and taxpayers, not great Actually backed by, trust: A) you trust that the government will still be around and honor your money B) Trust the government will not inflate /deflate your money beyond reason, which can be out of their control Bitcoins backed by nothing, not true: I trust bitcoin to do: A) trust that bitcoin will still be around? — Yes, as long as 2 people want to use it, it will be around, and my bitcoins will be honored B)Bitcoin generation is algorithmic. It generates bitcoins at a certain rate until it hits a certain amount, then it stops entirely… not at the whim of a government. MORE STABLE! Says bitcoin is a pipe dream b/c dollars or euros unbacked — BUT dollars have worked even though “unbacked”. Dollars still the currency, just money laundering explain scenario. currency definition Money or other item used to facilitate transactions. Secondly, using your example, Dollars are money laundering too, because technically, you are still exchanging goods and services, you are just using the dollar as an exchange medium.
Video Rating: 3 / 5