It feels strange to hear all those "Bitcoin has no intrinsic value", "Bitcoin has no real use" blabbers coming from all these bigwigs while I am enjoying the unprecedented convenience in online business provided by Bitcoin.
I guess the same applies to those who have to suffer geocentrists.
Topic: [2013-12-04] -Bloomberg - Greenspan says bitcoin a Bubble - page 2. (Read 1958 times)
I'm too lazy to read the article, but does it state what his position is on Bitcoins in general?
Greenspan is said to have commented: "there is no fundamental means of 'repaying' it by any means that is universally accepted."
That's right Alan, it's not a token representing the part of the national debt that's made up of Treasury Bonds, i.e. it's an asset-based currency, not a claim on a gigantic and never-to-be paid debt based currency.
How in hell does this guy actually get away with sitting there on National TV, complaining that he doesn't understand the value of something that's not part of the scammy system he presided over for 20 years? Are people listening to the words coming out of this guys mouth at all? Do they actually understand that he's complaining that it's not bullshit nationalised servitude, and that the Federal Reserve shareholders (e.g. Goldman Sachs, Carnegie Mellon, JP Morgan et al) cannot possibly roll around with their legs in the air while sucking everyone dry?
No wonder the Chinese state have shut the Dollar window. Buy Bitcoin, and stand back to a safe distance. Expect some turbulence.
That's right Alan, it's not a token representing the part of the national debt that's made up of Treasury Bonds, i.e. it's an asset-based currency, not a claim on a gigantic and never-to-be paid debt based currency.
How in hell does this guy actually get away with sitting there on National TV, complaining that he doesn't understand the value of something that's not part of the scammy system he presided over for 20 years? Are people listening to the words coming out of this guys mouth at all? Do they actually understand that he's complaining that it's not bullshit nationalised servitude, and that the Federal Reserve shareholders (e.g. Goldman Sachs, Carnegie Mellon, JP Morgan et al) cannot possibly roll around with their legs in the air while sucking everyone dry?
No wonder the Chinese state have shut the Dollar window. Buy Bitcoin, and stand back to a safe distance. Expect some turbulence.
http://www.bloomberg.com/news/2013-12-04/greenspan-says-bitcoin-a-bubble-without-intrinsic-currency-value.html
Former Federal Reserve Chairman Alan Greenspan said Bitcoin prices are unsustainably high after surging 89-fold in a year and that the virtual money isn’t currency.
“It’s a bubble,” Greenspan, 87, said today in a Bloomberg Television interview from Washington. “It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.”
The man who was the most wrong about everything in economics with the possible exception of every other Fed chief says Bitcoin is a bubble and has no intrinsic value.
We must be on to something here.
Former Federal Reserve Chairman Alan Greenspan said Bitcoin prices are unsustainably high after surging 89-fold in a year and that the virtual money isn’t currency.
“It’s a bubble,” Greenspan, 87, said today in a Bloomberg Television interview from Washington. “It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.”
The man who was the most wrong about everything in economics with the possible exception of every other Fed chief says Bitcoin is a bubble and has no intrinsic value.
We must be on to something here.
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