http://www.coindesk.com/nyse-chairman-millennials-trust-bitcoin-more-than-fiat/No shit and can you blame them? Millennials have seen lives get destroyed and fear run through towns based on corruption that's happened using fiat. Why wouldn't they trust bitcoin?
The problem is that all the that's happened to cause fear in the economy - weak markets, mortgage-backed collateralized debt obligations, "clever" accounting with Enron, minimum wage struggles, student loan debt - could have been facilitated with ANY currency. I guess the one thing that's done with fiat that's not done with bitcoin is the government-driven creation of currency, which then devalues the currency OR the quantitative easing.
I hope some of the greed of speculation doesn't ruin bitcoin for us. I hope governments never have a hand in it's creation or value.
From the article:Intercontinental Exchange (ICE) CEO and New York Stock Exchange (NYSE) chairman Jeffrey Sprecher has come out in support of bitcoin and the blockchain, voicing his belief that the technologies are part of a larger change in how trust is being established in society.
Speaking to CNBC's Bob Pisano on "Power Lunch", Sprecher opened up about NYSE's investment in bitcoin services provider Coinbase's recent $75m Series C funding round, one of the largest so far closed by an industry firm.
Sprecher suggested NYSE has been looking into bitcoin and the blockchain for "over a year", but noted the exchange has found the language of the industry difficult to navigate.
However, Sprecher said his interest had persisted due to the fact that millennials are becoming comfortable using the technology in the same way that they are becoming used to other platforms – such as ride-sharing app Uber – where the crowd, rather than a central authority, informs decision-making.
Sprecher told CNBC:
"We're seeing millennials trust a currency that is created in the ether, more than they trust fiat currency by government. I think that trend, whether it's a restaurant review or a taxicab or the way you exchange value, is something they believe in and we want to be on top of it because I think it's going to impact you and I."
"I think there's something to it," he said, alluding to bitcoin and the blockchain. "I think there's something here, that's why we invested in it."
