Bitcoin 757 Meetup Message Board › PBS Article: What can Bitcoin buy?

PBS Article: What can Bitcoin buy?

user 76813932
Chesapeake, VA
Post #: 6
Nicholas K.
Newport News, VA
Post #: 3

3:10 Richard Sylla makes the implicit assertion that the people in charge of Bitcoin could instantly double the supply much the same way the King Henry VIII doubled the money supply for his own benefit.

1. No one is in charge of Bitcoin. There is no "leader" or "Bitcoin Corporation".
2. The blockchain is a public record of all Bitcoin transactions. There are only 21 million Bitcoins, and there are no double-spends. Bitcoins are unique in a way no digital asset ever has been. You can't just "duplicate" a Bitcoin.

At least he admitted he didn't understand how Bitcoin works. Why didn't he just leave the commentating to people who know what they're talking about? "Change the algorithms or something like that..." *facepalm*

Best of that video is at the end, where they say that people can stop assuming Bitcoin only has value because you can buy drugs anonymously with it. Great video overall and the rest of the article is pretty fair.
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