Bitcoin is like Airmiles, WTF ?
It s JP Morgan time again with some more Fake News about Bitcoin.
JP Morgan said that betcoin is like Airmiles ... well that does already sound better than "Bitcoin is a fraud" , what we heard a few weeks ago from him.
I guess everyone knows that this isn t true , but I will still show the difference between Bitcoin and Airmiles:
- Airmiles have a fixed exchange rate for example at airmiles.ca 95Miles = 10$ , so it s not a free market.
- There is no maximum amount of airmiles that can be in circulation... Bitcoin has a maximum of 21000000BTC.
- Airmiles are not decentralized.
- Airmiles are not transparent so you can t check out how many airlines someone holds , and you are also not able to see every transaction made with airlines. While at Bitcoin you can see every Transaction and check out the balance on very Adress.
- Airlines are not globaly useable. at airmiles.ca I can t use at Germany .
So it took me less than five minutes to find 5 Arguments against JP Morgans statement about Bitcoin , I m sure that there are a lot more but I guess thats enough to proof he is wrong.
IMPORTANT: Be aware that there are a lot of Fakenews around crypto , Panic sell will most likely lose you money ;)
What s your opinion on that topic ? Write it into the comments ;) @elbiasto
The banks are really reaching. I can't wait to hear what they come up with next.
yeah nice to see how scared they are if they have to do stuff like that :D
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