Goldmoney interview with Doug Casey mentioning bitcoin (15-01-2013)

[Spaceman_Spiff]

http://www.youtube.com/watch?feature=player_embedded&v=VDtKyPzZWQM#t=1189s

Havent seen this on the forum.

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[1715374490]

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[hazek]

Typical dinosaur's response..

The problem isn't that he disagrees with the validity of Bitcoin it's that he lacks the necessary concrete foundational knowledge that would allow him to even properly understand this highly abstract thing to begin with, I mean did you hear him say "they offered it at 20cents.." who does he think "they" is? Some company? A group of inventors? Not to mention that the fluctuating value as a reason for not holding it is complete hogwash, does gold not fluctuate??

He did raise one valid point about competing cryptocurrencies but even there a strong argument can be made that Bitcoin has a huge edge against any competitor simply because of the network effect and that a far superior cryptocurrency would have to enter which we should actually want regardless what happens to the value of our bitcoins.