ALERT: Bix Weir ANSWERS Chris Duane's Crypto-Challenge
7 years ago in #silver by bixlives (53)
$8.67
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Bix Weir! Stepping up to the plate! I saw Mr. Silver Sheild put out his cyrpto challenge.
Objectively, he has points. But he's very one sided to even the idea of them as tools. They don't have to match up to AG in his eyes. But will you completely look them over as options and a tool to be used going forward?
We're kind of up against a lot here...
Very excited to tap into this one!
Steem on!
Be careful going down this road. Don't let the age old trick of "divide and conquer" get to you two guys. You both have both done a great job educating us on the importance of diversification out of the Fiat regime... Know that it will take the power of both Precious Metals and Cryptos to release these fiat shackles from us!
Thank You Bix. This is the BEST video currently on Youtube
Thanks for the video. I followed Chris and he is the on that got me into silver so there is a soft spot in my heart for his message. The problem he has is 2 things.
First, as you pointed out, he really does not understand Cryptos or is unwilling to realize he was wrong. Its very much like The Golden Jackass is fun to listen to but he should not open his mouth because he showed how he had no idea about Cryptos and showed everyone his ignorance.
Second, he does not understand Open Source is Free. As a programmer, I use open source products and we have several sayings, 'Free as in Beer' and 'Free is not Free'. everything cost money and in time. Learning to use a library or writing one. You can write your own and give it out that does not mean that others will use it or find it useful (the value will be 0). If i run a server to check the block chain I can donate my computer to do so or I can get paid. if it were all Free Volunteer effort then it would defeat the purpose since very few people would do it.
And a follow up to his whole argument. If you were around when the first person sold "Shares" of a company in the form of an investment called "Stocks", he would be on the side of it being a scam and it would collapse.
Just my thoughts.
Actually, you meant >>> "He was saying not to buy bitcoin at $10...$1960 below the current price." ...not $2500. It's on it's way to you issuing an apology to your viewers, RotoRooter. :-)
Sorry, my bad on that last spew. Bitcoin now $1940 above where this guy you are spewing over was wrong. You losing weight, Bixie? Both you and teh Snipster look 20% "LITEr" today...ehhh, probly just the drop in teh litecoin price. :-)
Awesome video Bix, a must-view IMHO!!!
Thanks Bix, forvwhat it is worth, I add my thoughts to this. I have posted this also on my own blog. As always, thanks for your insight.
I watched, or more listened to the Silver Shield point of view against Crypto Currencies and Bitcoin in particular, and the Biz Wier's response. I have to say that I am on Bix's side of the discussion. I have a small amount of metals and a small amount of cryptos. I also agree that it is doubtful that we will return to using golf and silver as currency, possibly for use as barter in times of complete breakdown, but not generally as cash. Although, a while ago I did see an artist develop a concept for gold sheet in the form of notes that could be subdivided. I liked it, but I doubt it will catch on.
https://www.peakprosperity.com/podcast/84359/new-way-hold-gold
Bix used a good definition of what currency is. I use the word currency as Mike Maloney does, dollars and Euros are currency, gold and silver are money, in a true sense. However, the one thing all forms of currency or money or crypto currencies are backed by is "Faith" or "Belief". They are only worth anything as an exchange for goods or services because we believe that they have some kind of inherent value. All money systems are dependent on faith.
Today, when I am writing this, I am in Kenya. Here in Kenya, there is a massively used exchange separate from the banks, the system is called mpesa. The banks tried to fight it, but lost. It is not a blockchain technology, but it is not controlled by the banks. Almost everyone from the owners of the tea plantations to the simple farm labourer has a mobile phone, they then have access to mpesa. You can send someone the equivalent of a dollar or Euro, for a tiny fraction of cost. I yse it all the time here. This is what a crypto currency should be aiming to do. Mpesa can be used to buy your cup of coffee, or to pay your electricity bill or fill up your car. The most you can have in your account is about 1000 dollars. The banks are now accepting this alternative system. Mpesa us not seen as a store f value, but it is digital money.
I am not saying that mp esa is better than a blockchain, it is not. For those interested, this is a good brief comparison.
https://cointelegraph.com/news/bitcoin-and-m-pesa-what-stands-between-them
What ai am pointing out here, is simply that if you create an easy to use system, then it will be quickly adopted and widely used by the population as a whole. Most people in Kenya have never heard of Bitcoin and have no idea what a blockchain is. But people here use mpesa as a digital currency and it has been good for wealthy and poor alike.