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crank /
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2023-05-23 01:29:51

crank on Nostr: Jim Rickards on the Triggernometry podcast basically saying Bitcoin "doesn't work" ...

Jim Rickards on the Triggernometry podcast basically saying Bitcoin "doesn't work" because it isn't already adopted as a medium of exchange. He's not as flippantly dismissive as Buffet, sounds like he's done at least some honest reading on it. He make an analogy to casino chips, you "gamble with them" can't go out and buy stuff with them. Probably he's conflating some crypto shitcoins with this, he casually mentioned Ripple which is retarded. Yes you can't buy much with Bitcoin right now, but how can you not ask "this is new -- is there a reason for people to start using it for other reasons or in hopes of it becoming more of a medium of exchange than it already is?" If you consider casino chips or credit card points, the answer is probably no. If you consider crypto shit garbage the answer is maybe not. If you consider bitcoin the answer has got to be at least maybe. If you assert that a financial instrument is useless because it is not already a medium of exchange then no new mediums of exchange would ever have arisen after the very first widely adopted instance. Come the fuck on. Am I wrong?
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