3 ms·
He confuses making money with printing money, as well as capitalism to trick people to beleive they get richer by inflation. The only good point he made was re
by chmike 15y ago
He confuses making money with printing money, as well as capitalism to trick people to beleive they get richer by inflation.
The only good point he made was regarding securing the system. Sha256 is just one piece of the chain. How can we secure the bitcoins on our computer ? Some bitcoins might get lost by computer crash or stolen. Is there a way to prove ownership of a bitcoin ? I didn't check the working principle in details yet. Is there a way to prove ownership of a bitcoin ?
There are good lessons to learn from Brazil, how they got out of their financial cryzis.
One critic I would add is that some flexibilty should be made possible in the currency value to adjust to ressource grow. Some people might buy bitcoin today for cheap. But the more people will use it, the more the population will grow, the imbalance will grow with it. The value of current bitcoin will grow very fast and some people who bought them early in masse are very rich. This is because the price of ressources will have to adjust to match payement capabilities of people. So there is still a strong ineqity in the system (compared to people able to print money), there is just an unperceptible shift.
If you want to get rich and bet wich better odds than in las vegas, buy bitcoins as much as you can now.