He's right, sort of, about some things. Bitcoin is absolutely in a speculative bubble right now. People are buying it not to use as currency but to sit on it an

He's right, sort of, about some things. Bitcoin is absolutely in a speculative bubble right now. People are buying it not to use as currency but to sit on it and watch its value appreciate. That's not good. Lots of people will be hurt when the inevitable crash occurs. The bigger problem is that Bitcoin has intrinsically a deflationary nature. That's not a great property for a currency to have. Currency is meant to be spent. It's not meant to be buried in a backyard so that you can watch its value grow. His points around the development of currencies are bunk. The fact that in the old days it took any currency decades or centuries to take a hold, is purely a function of that time. Bitcoin also does solve some big problems with the current financial system. Specifically today it's pretty friggen hard to move money around because of the insanely strict regulations around transfers. In an era of the internet and all that it enables, there is a huge pent-up demand for something compatible with "the internet way of thinking".