jesus f. christ! Turk just can't let go of the tangibility issue.
He has a point about the long history of gold, but I think the transactional properties of bitcoin more than make up for that.
Anyhow, it seems to have been a good idea to fill out that goldmoney bitcoin survey.
I almost can't believe how fast Turk seems to be coming around to bitcoin. He's now got a much more open-minded approach and it's clear he he re-thought his opinion regarding the bolded part above in relation to bitcoin.
He now says:
Quote from: James Turk http://www.youtube.com/watch?v=Z3cQhPBPl6w&feature=player_embedded#t=1331s
It's like I say, you know. Bitcoin has advantages and is a reality. Maybe they're going to fight it as it gets bigger and more popular. I hope they don't. I'm in favor of what individuals choose what individuals choose what currencies they want to use. This is Ron Pauls point: freedom of choice in terms of currencies. It goes back to Friedrich Hayek and his denationalization of money. Let national money compete against free market money. Whatever people want to use and let them be free to choose. After all, that's how we humans progress, when we interact with each other - adam smiths invisible hand - we are benefiting from it. So let's go back to basic economic principles and let every currency compete against one another.
wow!
and earlier after Max postulates "intrinsic value in cryptography" (I'd like to debate that) or something it's even clearer:
Quote from: James Turk http://www.youtube.com/watch?v=Z3cQhPBPl6w&feature=player_embedded#t=1331s
I'm not a mathematician, but then again I'm not a miner, either. But I understand that gold has value and I see that bitcoin has value to people who understand mathematics. So I think instead of mining into geology you're mining into mathematics, so I think the logic of it makes sense. And also given that fact that there are advantages of bitcoin like it can't be confiscated, it's a very good "online currency" in many respect. I think it does have some unique advantages that need further study.
This is exactly the reason why turk loves gold: it can't be (easily) confiscated.
I conclude: he's coming around to bitcoin.
Thanks James Turk for rethinking your opinion!
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