Bitcoin fits Aristotle’s definition for good money. Money must be Durable, Portable, Divisible, and Intrinsically Valuable. Does the U.S. dollar or other Fiat currencies fit this definition?
ReasonTV just uploaded the July 2nd debate between well-known investor and economic commentator Peter Schiff and Erik Voorhees, the CEO of Shapeshift. The debate question was if Bitcoin or a similar cryptocurrency would replace government issued fiat currency. The link is provided below it’s definitely worth a listen. Peter Schiff has done great work in calling out the 2008 economic crisis and believes fiat currency is harmful, but doesn’t quite seem to get Bitcoin.
A regular at the Shoppe mentioned something cool today. It’s an Ethereum token redeemable for physical precious metals. How? Well, the company hasn’t explained that yet. According to their website, they are first seeking permission from various “authorities” where they plan to serve customers.
Another guy came in today who just moved to Nashua and is hardcore into mining. He told me about TurtleCoin. It’s a hard-fork of Monero and he seems to think it’s worth mining because it’s so easy and you can exchange it for BTC. I set him up with a Dash wallet so he could spend it around Bitcoin Village, and he was really happy to buy a Monero shirt. He used Verge to buy it! That’s the one coin that PornHub accepts for payment. Pretty interesting.