4 ms·
That was a surprisingly sensational interpretation by Reuters of the original quote. Looking at the source, he didn't recommend these assets. What was actually
by ddeck 10y ago
That was a surprisingly sensational interpretation by Reuters of the original quote. Looking at the source, he didn't recommend these assets. What was actually wrote was:
"At some point investors — leery and indeed weary of receiving negative or near zero returns on their money, may at the margin desert the standard financial complex, for higher returning or better yet, less risky alternatives. Bitcoin and privately agreed upon block chain technologies amongst a small set of global banks, are just a few examples of attempts to stabilize the value of their current assets in future purchasing power terms. Gold would be another example — historic relic that it is. In any case, the current system is beginning to be challenged"
- justinlardinois 10y agoThat's certainly a different sentiment that the Reuters quote. But even if it's not an endorsement of Bitcoin and gold, it's still problematic because he's saying that scarcity implies stability, which simply isn't true.
- solotronics 10y agoAlready bitcoin has been more stable (and increased in value) over the last year compared to many central bank issued currencies.
- mark_edward 10y agoYou understand stable and increased in value form a contradiction?
- deleted 10y ago[deleted]
- Luc 10y agoStable in purchasing power hence increased value vs currencies that lost purchasing power.
- dx034 10y agoThat would imply that you have significant inflation in USD which is not the case.
- MichaelBurge 10y agoHe(solotronics) didn't say USD. He could be referring to China. They're pumping out ridiculous amounts of money. I heard land prices have grown by 10x in the past few years, and at the fixed exchange rate they'll have enough money to buy the US by the end of the year and enough money to buy the world by the end of next year. (Obviously those exchange rates aren't valid outside of China)
- Retric 10y ago400 to 800 and then down to 600 is not stable. When you can predict bitcoins value +/- 2% year over year that's stable.