2013-12-06: Vesti - Rossija24 - Bitcoin is just a bubble

Carlton Banks

legendary

Activity: 3430

Merit: 3080

Quote from: TraderTimm on December 06, 2013, 10:10:17 AM

Love how greenspan is being quoted, when that man is single-handedly responsible for gutting an entire economy. That doddering fool couldn't spot a bubble when he was looking for one, and he sure as hell doesn't understand Bitcoin well enough to make that statement.

He even explicitly denied a bubble in asset prices and derivatives pre-2008, and then went on to say that his "economic model was wrong", not that he had judged badly.

It was either you or someone else that said: "Greenspan's against? Best possible contrary indicator". I hereby +1 that sentiment.

bryant.coleman

legendary

Activity: 3752

Merit: 1217

Well Russian banks and other financial institutions think otherwise. So far Russian banks (such as the Alfa Bank) have been very supportive of the BTC, allowing transactions from BTC-E. I'm quite surprised at this article.

TraderTimm

legendary

Activity: 2408

Merit: 1121

Love how greenspan is being quoted, when that man is single-handedly responsible for gutting an entire economy. That doddering fool couldn't spot a bubble when he was looking for one, and he sure as hell doesn't understand Bitcoin well enough to make that statement.

But he's given headlines and the spotlight, because wealth and power are the only respected qualities in U.S. mainstream news anymore.

emmaq

newbie

Activity: 48

Merit: 0

I trust Bitcoins.

Nemo1024

legendary

Activity: 1680

Merit: 1014

http://www.vesti.ru/only_video.html?vid=559378

From the 21st minute onwards (in Russian).

Mostly positive.

They are accurate in that Bitcoin use is discouraged in financial institution, but not among regular citizens in China. They also mention that US regulators gave green light to Bitcoin. They say it's not at the peak of it price. There is a potential in future payment system in cyberspace. But it's a great unknown.

But then they drag in Greenspen's and his "it's a bubble" quote, and continue discussing along the road: "it's only for illigal use" (as if dollars aren't), "Bitcoin creator is behind Silkroad" (oh, really?), "Bitcoin is not a currency because if there is no electricity and Internet, you can't make payments with it" (come on, power down a supermarket and then try paying there with your credit card!)

And they don't have a solid grasp of how Bitcoins are generated. "If all the Chinese started mining them now, we'd reach 21 million emission within a month"

Topic: 2013-12-06: Vesti - Rossija24 - Bitcoin is just a bubble (Read 926 times)