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This guy is terrible, seriously. He just trying to sell his book, if you dont believe me head over to his twitter and check out his logic when debating with you or others on bitcoin. I dont understand how he is even a "successful" author in first place but i guess thats baby boom generation for you.
He needs bitcoin success as much as rest of us to sell his book.
He needs bitcoin success as much as rest of us to sell his book.
i laughed the whole way through.
analogy.
retailers accepts wire transfers, retailers do not accept credit cards. retailers link customers to card processor companies. and card processor companies then send wire transfers to retailers.
also he is viewing bitcoin while its still in innovation. he is like the skeptics of the wild west screaming "what is this paper promissory note thingy about, i only understand gold"
also this guy is an author promoting a bookdeal. not a proper guy that deals with actual financial crimes or economics. even the guys that made the movie the matrix could make arguments about bitcoin with the same persuasion as this guy. doesnt mean their right.
analogy.
retailers accepts wire transfers, retailers do not accept credit cards. retailers link customers to card processor companies. and card processor companies then send wire transfers to retailers.
also he is viewing bitcoin while its still in innovation. he is like the skeptics of the wild west screaming "what is this paper promissory note thingy about, i only understand gold"
also this guy is an author promoting a bookdeal. not a proper guy that deals with actual financial crimes or economics. even the guys that made the movie the matrix could make arguments about bitcoin with the same persuasion as this guy. doesnt mean their right.
It's funny that Bitcoin is being called a "pretend currency" when you could about say the same thing about a dollar bill that only has value because people believe it has value. If we ever have a catastrophic meltdown of our national and/or worldwide systems that throw us all back to the tribal survival level, that dollar bill might make decent kindling (and Bitcoin will obviously be dust) and a packet of tomato seeds will be worth a lot more.
most of the time these business are just selling at market prices which pushes the price lower
Yes, some sell, some hold. Some of the people who bought items at the store are using mined coins, some are using bought coins. Some of the purchasers would have otherwise sold those coins at market, some would have held them. Retailer insta-conversion is a factor in the BTC exchange price, but the effect is greatly overstated, imo.
He makes good points. You will all probably blindlessly hate on it, but he is making solid points. First point being, when someone accepts bitcoin, most of the time these business are just selling at market prices which pushes the price lower, they are not paying employees with BTC and most people people don't see real reasons to use BTC as an everyday currency (an actual currency).
The value o the blockchain tho, now that is a different story. But as of right now, BTC needs a lot of work to be considered a legitimate, solid currency. In any case, this guy is just like most old people, pretty clueless about Bitcoin and it's potential. here is a good reply to that interview:
http://peaceandmarkets.com/2014/10/04/jeffrey-robinson-doesnt-understand-bitcoin/
The value o the blockchain tho, now that is a different story. But as of right now, BTC needs a lot of work to be considered a legitimate, solid currency. In any case, this guy is just like most old people, pretty clueless about Bitcoin and it's potential. here is a good reply to that interview:
http://peaceandmarkets.com/2014/10/04/jeffrey-robinson-doesnt-understand-bitcoin/
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