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RE: Ivan on Tech debates Peter Schiff - Bitcoin vs Gold, US Dollar Crash

in #bitcoin7 years ago

Agreed. My rebuttal to the objection that bitcoin is intangible and unbacked is this: The bitcoin network is tangible because it is comprised of scarce resources like hardware, energy and human capital. This is what we need to convince people of. No, you cannot eat a bitcoin, and it won't keep you warm in the winter, but what you're buying is the freedom to transact in a trustless manner. The biggest hurdle for the mainstream is the education gap and the paradigm shift required to take the leap of faith by taking personal responsibility. We're so used to having our hands held by the financial system. However I see a place for both fiat and crypto to coexist.

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True good points @steadytoken. The freedom to transact in a trustless environment should have a dynamic pricing mechanism.

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