Bitcoin Forum

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While the press was busy with Wright’s claims, however, some things of actual import were happening. First, in an interview on CNBC, the presumptive Republican nominee for President, Donald Trump, stated that debt could always be “re-negotiated,” which in terms of sovereign debt amounts to a default, but that default wasn’t an issue when “you print the money.”

Polls show that he is unlikely to be elected and even if he does pull it off, I cannot see him actually taking the U.S. down the path of the Weimar Republic, Zimbabwe, Argentina or other victims of hyper-inflation. His comments, however, do illustrate one thing. A fiat currency is always vulnerable to bad policy, something unlikely with a peer to peer currency, where decisions are made collectively by those with a stake in maintaining the value.

Critics of Bitcoin maintain that that is of little use if the currency in question is not universally accepted, but the other news of significance, reported by NBC recently, takes us one step closer to that being the case. The town of Zug in Switzerland has announced that it will become the first municipality to accept Bitcoin in payment for some fees. It is not universal acceptance, of course, but it is a major step forward for crypto currency.
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