Can anyone provide a strong rebutal to this article?
http://dealbook.nytimes.com/2014/01/22/bitcoin-a-fools-gold-standard/?_php=true&_type=blogs&_r=0For me the future of bitcoin doesn't involve it being the world's currency but it being a store of value - similar to gold. Gold is worth >$4trillion. If bitcoin were to capture 5% of it's market, it's value would be >$200billion. If anyone can soundly explain how bitcoin of limited supply would positively-act in a crisis, then I'll be convinced bitcoin should be the world's #1 currency. It's my understanding that during a crisis owners of a commodity with limited supply, tend to hoard, causing spending to stop and deflation to take place.
Look forward to the communities comments
Peace
Look at how well "printing more money" does in a crisis. Its a get out of jail free card for the politicians in power. They just pass the mounting debt onto the next generation. Happening in nearly every country on the planet. House of cards.