Peter Thiel drops the mic on news anchor. What is Bitcoin based on?
Normie anchor-woman; "But what is Bitcoin based on? The Dollar is based on trust in the Government.."
Peter Theil; "Bitcoin is based on the security of the math. It can never be diluted by the Government.."
Bitcoin has surely the potential and it is being underestimated.
Bitcoin may well take over gold in the near future.
Congratulations! In addition to the vote from @randowhale, you also received a vote from @randowhaletrail!
Although the value of a State currency is largely based on the confidence that is held in the government, it is also true that another part of its value lies in State coercion. The BTC, on the other hand, is product of free association among people, without any coercion.
Yup and Yep.
"The Dollar is based on trust in the Government.."
I have got to say that was a good joke.
Great rebuttal!👍
I watched this last night.
Did you know that Bitcoin reached its 9th birthday today?
At first I viewed Bitcoin as a currency to move payments from one place to the other. However, because of the fees and transaction times it HAS become less of a currency and more of a commodity where wealth is stored (much like gold)
The blockchain technology of Bitcoin has allowed other cryptocurrencies to evolve like Ethereum, Steem, Ripple, Stellar etc which have far more practical uses.
Yes, the crypto space will continually evolve.
I see a future where everything is decentralised - maybe in about 20 years though