Post
Topic
Board Economics
Re: Doubt about Bitcoin's growth potential
by
Severian
on 05/09/2012, 08:02:00 UTC
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.