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Showing 8 of 8 results by pimms4london
I don't understand that either. Does anyone know why bitcoin would make such an attack more feasible? I guess maybe it's just that the IMF has plans in place to try to stop a traditional attack but hasn't spent much time thinking about bitcoin.
The only reason that Bitcoin would make an attack like this more feasible is because none of the IMF member countries own any BTC. To counter a "speculative attack," the country's commercial banks need to be able to sell their own country's currency for Bitcoin using a central bank. Solution: the central banks need to buy bitcoin (or mine their own).
I agree. I feel like BTC supporters are so used to being a misunderstood minority that we react with hostility to things we don't really understand (another example: Ripple). Despite the negative reactions here, I think that this is overall a positive article.
The author also had a lot of good things to say about Bitcoin. For example, he said that digital currencies are a superior medium of exchange, a superior measure of worth, and a superior store of value. Those are the core principles of any currency.
And, my favorite:
And, my favorite:
Quote
Hayeks predictions about private currencies seem to be coming true before our very eyes: as the world struggles to recover from the recent global economic crisis, more and more people are losing confidence in traditional currencies and turning to Bitcoin as a private, easy-to-use, digital alternative.
!