All this ready to smile is like writing on a cup of hot coffee "Beware hot drink! Central banks are simply trying to hedge themselves and issue warnings to protect themselves. But there is no need for them to realize that the bitcoin is extremely volatile. It is not uncommon that in one day its value expressed in dollars varies from 30, 40, 60%. It could be worth 1,300dollars to go back down a few days later to 600. The bitcoin looks more like a lottery ticket than a means of payment. Then, the danger is for people to decide whether or not they want to use that currency. If the supervisory authorities are more interested, it is also because of this anonymous side and the risk of fraudulent transactions or tax evasion.
In another video (I think called Bitcoin vs Political Power - by Molyneux) he says that the limited money = limited power, whereas unlimited money = unlimited power. The printing of money by national fiat gets stolen from future generations until the agreements (the fiat) are rescinded by the collapse of the currency.
I'll have to bookmark this to go into it further. Thanks!
Unlimited money allows not only unfair advantage to those who get to produce it but unfair - and unwarranted - redistribution channels. If it is limited - yes, you can steal it, yes you can give it to somebody who under normal circumstances would not be considered having earned it - but you can not do either on a prolonged basis. And that I think is a principal appeal of any finite supply model.
All this ready to smile is like writing on a cup of hot coffee "Beware hot drink! Central banks are simply trying to hedge themselves and issue warnings to protect themselves. But there is no need for them to realize that the bitcoin is extremely volatile. It is not uncommon that in one day its value expressed in dollars varies from 30, 40, 60%. It could be worth 1,300dollars to go back down a few days later to 600. The bitcoin looks more like a lottery ticket than a means of payment. Then, the danger is for people to decide whether or not they want to use that currency. If the supervisory authorities are more interested, it is also because of this anonymous side and the risk of fraudulent transactions or tax evasion.
I would imagine most currencies experience volatility at one point or other.
In the world of crypto you have plenty of options, by the way - I don't think you are ever forced to use bitcoin.
But be that as it may - the more people and businesses adopt BTC, the less volatile I would expect it to be.
Unlikely to end all wars, however, Bitcoin will provide a fiat alternative and continue to increase in its adoption rate.
@borepstein - Interesting, I was just watching a similar video by Andreas Antonopoulos on the same subject.
In another video (I think called Bitcoin vs Political Power - by Molyneux) he says that the limited money = limited power, whereas unlimited money = unlimited power. The printing of money by national fiat gets stolen from future generations until the agreements (the fiat) are rescinded by the collapse of the currency.
I'll have to bookmark this to go into it further. Thanks!
You are most welcome.
Unlimited money allows not only unfair advantage to those who get to produce it but unfair - and unwarranted - redistribution channels. If it is limited - yes, you can steal it, yes you can give it to somebody who under normal circumstances would not be considered having earned it - but you can not do either on a prolonged basis. And that I think is a principal appeal of any finite supply model.
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nice video
thank you for sharing
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