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Author Topic: 2013-12-06: Vesti - Rossija24 - Bitcoin is just a bubble  (Read 906 times)
Nemo1024 (OP)
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December 06, 2013, 09:07:06 AM
 #1

http://www.vesti.ru/only_video.html?vid=559378

From the 21st minute onwards (in Russian).

Mostly positive.

They are accurate in that Bitcoin use is discouraged in financial institution, but not among regular citizens in China. They also mention that US regulators gave green light to Bitcoin. They say it's not at the peak of it price. There is a potential in future payment system in cyberspace. But it's a great unknown.

But then they drag in Greenspen's and his "it's a bubble" quote, and continue discussing along the road: "it's only for illigal use" (as if dollars aren't), "Bitcoin creator is behind Silkroad" (oh, really?), "Bitcoin is not a currency because if there is no electricity and Internet, you can't make payments with it" (come on, power down a supermarket and then try paying there with your credit card!)

And they don't have a solid grasp of how Bitcoins are generated. "If all the Chinese started mining them now, we'd reach 21 million emission within a month"

“Dark times lie ahead of us and there will be a time when we must choose between what is easy and what is right.”
“We are only as strong as we are united, as weak as we are divided.”
“It is important to fight and fight again, and keep fighting, for only then can evil be kept at bay, though never quite eradicated.”
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emmaq
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December 06, 2013, 10:43:47 AM
 #2

I trust Bitcoins.
TraderTimm
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December 06, 2013, 02:10:17 PM
 #3

Love how greenspan is being quoted, when that man is single-handedly responsible for gutting an entire economy. That doddering fool couldn't spot a bubble when he was looking for one, and he sure as hell doesn't understand Bitcoin well enough to make that statement.

But he's given headlines and the spotlight, because wealth and power are the only respected qualities in U.S. mainstream news anymore.

fortitudinem multis - catenum regit omnia
bryant.coleman
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December 06, 2013, 02:50:20 PM
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Well Russian banks and other financial institutions think otherwise. So far Russian banks (such as the Alfa Bank) have been very supportive of the BTC, allowing transactions from BTC-E. I'm quite surprised at this article.
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December 06, 2013, 03:35:46 PM
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Love how greenspan is being quoted, when that man is single-handedly responsible for gutting an entire economy. That doddering fool couldn't spot a bubble when he was looking for one, and he sure as hell doesn't understand Bitcoin well enough to make that statement.

He even explicitly denied a bubble in asset prices and derivatives pre-2008, and then went on to say that his "economic model was wrong", not that he had judged badly.

It was either you or someone else that said: "Greenspan's against? Best possible contrary indicator". I hereby +1 that sentiment.

Vires in numeris
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