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… Continue reading Erik Voorhees and Peter Schiff Debate
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. Their website says Coming Soon, but the last update was from… Continue reading Gold-Backed Tokens: Overheard in the Bitcoin Shoppe