Intrinsic Value

Hi, Blog will get better looking and tell you more about Bitcoin later, but for now I just want to get started. Greenspan says currency gets its value from the trust of the person issuing it. . . This is completely backwards. Currency gets its value from what people will trade for it, nothing more, nothing less. They trust the currency, not the person behind it. Besides, governments win on what %10 of the population’s vote? Half the electorate doesn’t even vote. It can’t possibly be trust of the issuer giving currency its value, that trust doesn’t exist.

Since its all about trusting the currency, not the person issuing it, Bitcoin looks much more trustworthy. There is no worry that the issuer can create more currency and devalue your savings- there is no issuer and the supply is limited. Also, there is no need to trust a bank to hold your funds, you can easily secure them yourself at your home.

Technologically and politically, Bitcoin is superior to government issued currency. That’s where it gets its value, and that’s where its garnering trust. That trust is everything it needs to thrive.

http://www.bloomberg.com/news/2013-12-04/greenspan-says-bitcoin-a-bubble-without-intrinsic-currency-value.html

 

If its too loud its cause you’re too old.

Advertisements

About remistevens

crazy musician type from toronto, philosophy major. work in a museum. . ..
This entry was posted in Uncategorized and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s