Topic: Some guy thinks the dollar is the only currency and bitcoin doesn’t fork - page 2. (Read 646 times)

Naturally, dollar is not only the one and the best currency. Some Europeans will tell you that Euro is the best one, while British are sure that the pound is more powerful. Nevertheless, the crypto can become the alternative money.

I think that fiat has outlived itself as money. The 21st Century is a century of innovation and digital technology. The process of replacing fiat money is already underway, this process is slow and little publicity is given to it.

Maybe he is blind or mega stupid
I live in country what has his own currency
There is yuan in China and jen in Japan
Rubel in Russia and so on
By my opinion bitcoin is rather asset than currency still crypto is not so much in use
It is something what has to be changed in future

People who have no idea about bitcoin talk about bitcoin all the time. I remember fox news once talked about 4chan like it was some person's nickname, they literally aired a news about 4chan without actually looking up what 4chan is on national television in front of millions of viewers.

Many of whom did not know what 4chan was and they believed it was actually a person with a 4chan nickname, how could they not, they did not know it before and it was the first knowledge that was given to them.

Same happens to bitcoin all the time, one of my closest friends still keep saying bitcoin is a scam and a complex one but instead of someone stealing from you in this scam everyone steals from each other, well at least he understands the decentralized part, he just thinks its not a decentralized currency, its a decentralized scam which is funny and sometimes actually true but doesn't shed a single light on positives of using bitcoin.

these days youtube is also filled with a lot of spammers. you think the signature spammers on bitcointalk are bad, wait until you see some of these videos from people who have no clue what they are talking about. this one seems like the best of the to be honest
i used to tell people who wanted to know about bitcoin to watch some youtube videos but now i no longer make such suggestions. unless i can give them direct link to Andreas Antanopolis videos since that is the only person worth watching.

But even he posted this here in the forum, it is already in the television, it is a news and people would already view that interview and people or viewers will believe that it is true since he is there. Even if we know that it is false, what can we do now? It is already viewed by a lot of people and instead of saying this to us, post this somewhere that can be seen by a lot of people that is believing that news so they will know.

They are ancient people! Well, we cannot blame them if they do not have knowledge in cryptocurrency. I am also thinking the possible way on how to convey people to look at cryptocurrency because it is not the dollar or any fiat currency can circulate in our economy. Cryptocurrency is helpful also for us and it may be the future of currency.

He propagates his ideas or just wants to make a high-rise, raise reviews and earn even this. Do not pay attention to such people. Judging by the fact that you wrote about this post, you very much offended it

People's views and opinions is always backed by some preconceived hidden agenda. You will have to know why he is saying the things that he is saying and why he is backing the Dollar and not Crypto currencies. What is his wealth and investments built on and what will happen if a technology like Bitcoin, disrupts that technology.

In essence it comes down to this, "Will he lose money, if he backs the new technology?"  The Fiat system was good to these guys and most of their wealth is built on old outdated fiat technologies and financial instruments. 

Some people are indoctrinated to think in a certain way, which doesn't surprise me at all.  

In order for them to be convinced of Bitcoin's usefulness and power, we'll need to go through a crisis similar to what happened during the credit bubble, or even better, a large to semi large fiat currency needs to collapse entirely. People only know that what they support right now is wrong, is to have it pop in their face and make them lose that what they have been working for their entire life.

Average joes don't care much about the loss in purchasing power they experience year after year, they accepted that it's part of life, almost like paying tax. It's not for nothing that the gap between the rich and poor is only growing larger; smart money makes money because it understands the flaws of the system, dumb money loses money because it ignores these flaws.

I think that the greatest danger for us is without this kind of knowledge, people making market comment. Bitcoin should be told to wider audiences. We have to make the whole world know.

That’s just what I was thinking. To what I know, the US dollar will no longer dominate the world.

This is the signal of blind followers, which is the malicious message of the capitalist. Only stupid people will believe this. In the next year or two, the dollar will lose its global dominance. The world does not need such coins to promote world cooperation. Goodbye to the dollar, I wish you a break. Goodbye to the Fed.

think deeply and will know that  dollar is not the one

this looks funny, he said about bitcoin and dollars with superficial knowledge about crypto and funny again he dared to broadcast it on youtube, oh isn't this really embarrassing,

Just my thoughts here. A lot of the mainstream media seems to be intentionally confusing the terms 'bubble' and 'ponzi scheme'. Bitcoin itself is definitely not a ponzi scheme, but you could definitely argue that unnatural and unsustainable price rises like last year can be attributed to a bubble for sure.

But returning to the video in question, Warren Buffet is simply wrong about bitcoin here. I don't think that he understands the problem that bitcoin is tackling, potentially because that his involvement in the traditional fiat banking system has a significant conflict of interest with the development of bitcoin, and he simply does not understand how bitcoin works or the technological side behind it.

I simply don't understand how anyone could think that bitcoin is not a currency. It is, and potentially even more compared to fiat in a global sense. I also don't understand how some of these people think that fiat is something that is completely benign to hold in the long term but somehow, bitcoin is going to disappear and go to zero despite it being a much better store of value fundamentally than fiat due to decentralization and its capped emission curve. The dollar's purchasing power has consistently depreciated even without any major hyperinflationary crises in the US.

I'd argue that slow inflation is difficult to come accross based on the name "slow"?
Are we talking a really small amount that it is almost stagnant, the 2-3% we have at the momvent or 0.1-1% as being slow? Either can be determined to be slow.

Bitcoin's inflation rate seems to be about 4% also for annual inflation.
Taking the total number of bitcoins to be 17 million.

(365.25*24*6*12)/17000000 for annual inflation.

I'm not trying to offend by saying this so apologies if it comes off this way:
If we have our block reward continuing beyond 21 million, we're still at 3.1% inflation (this obviously won't happen but for annual inflation it seems quite large in comparison to normal currencies at the moemnt which I think are between 2 and 2.5 % for USD and GBP.

Slow inflation is required to provide stronger economic growth for the country while deflation will make the country uncompetitive on the world market. It is not painful for people because they can always invest their money with interest rates bigger than inflation. USD would never become what it is if its amount was fixed.
Comparing today's USD purchasing power with USD from 100 years ago is not showing anything.

I like the first comment under the video.'Warren Buffet doesn't know how to send an email,so his opinion is irrelevant.'Right in the target.
What is this Youtube channel?The video description is full with tags and keywords.This is NOT who you do proper Youtube SEO.

Warren Buffet has been historically very critical of bitcoin. There is absolutely nothing surprising here.

He claims that bitcoin is not an investment, and investments are only things that produce a dividend. Well, if the global accepted definition of an investment was indeed that then it would be true. But most people in my opinion do not have such rigid definitions of an investment.

He also goes onto talk about how bitcoin is not a currency because it is traded against the USD. That's just completely nonsensical to me. Bitcoin's traded against the USD and various other fiat currencies, and also other cryptos because that's what people demand and that's why there is volume in these markets. It has nothing to do with bitcoin being tied to dollars or whatnot, in fact, it is completely independent.

I don't think that he appreciates the advantages that bitcoin offers in terms of controlling supply, decentralization, etc. His statement about bitcoin not being around in 10-20 years just shows that he probably hasn't done as much research as he should have before commenting - even if adoption does not pick up like we expect it to as a form of currency, the blockchain of bitcoin will still be functional as long as someone uses it.