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Alan Greenspan Compares Bitcoin To America’s Worthless Colonial Currency
Well this is sure to bring out the tomato throwers and cat calls from the peanut gallery.
You can add Alan Greenspan to the list of folks who have either implicitly or explicitly suggested that Bitcoin is inherently worthless.
"Humans buy all sorts of things that aren't worth anything," Greenspan told CNBC on Wednesday, in an interview that found the former Fed chair comparing Bitcoin to Continental currency which ultimately became worthless by 1782.
What you'll note in the video belo
Everything is zero eventually. It is just a matter of how long it takes.
It’s perhaps ironic that the single most distinguishing feature of cryptocurrency – is also why it is limited to uninformed speculation. Blockchain is a unique technology, but has proven to be the single most limiting factor regarding speed and cost/per transactions related to cryptocurrencies ability to be used for mass merchandise exchange – compared to Paypal or credit cards – or cash. My last Bitcoin (and final) exchange cost me more than 5 hours before I finally gave up and that attempted transaction was with Newegg – a “We accept (except) BitCoin) merchant. The only accept BitCoin for inventoried items and not for associate vendors itmes (the vast majority of what they offer. Ultimately I could not get Neweggs payment process to communicate with my wallet. This is not the first time that I have had BitCoin exchange problems. The one before took two weeks of my time to resolve. BitCoin from an electronic exchange medium standpoint simply is not ready for prime time and based on blockchain speed and cost limitations – isn’t ever going to be.