For Bitcoins to be successful, it has to be able to replace the existing debt![/b]
Please help me:
Where is he right/wrong?
I bought 25 bitcoins the other day. I took ~$250 in debt-saddled currency and converted it into 25 units of debt-free currency.
Bitcoin can't do much for the mess that economists and bankers have made of Federal Reserve instruments and their derivatives, but it can go a long way to helping to create a later economy less encumbered by debt-based currency.
Debt is never money, no matter how much kooaid Central Bankers want us to drink.