Jeffrey Tucker: Bitcoin Is Creating A New Civilization of Billionaires!
During an interview I recently conducted with Jeffrey Tucker of the Foundation For Economic Education, I asked Jeffrey about his thoughts on Bitcoin as it bordered on $10,000 USD and what the constantly growing value means.
As Jeffrey Tucker said, when you look at the entire market cap of all cryptocurrencies, you get over 300 billion dollars. That's a revolution. That's a new class of billionaires. Essentially, he said, Bitcoin is creating a new civilization. It's a changing of the guard and we can thank decentralization for that.
While not all cryptocurrencies are good, there are many that are and it's providing a free market, competing currency alternative to the fiat, centrally planned legal tender currency that's currently enforced. Of course all fiat currency eventually reverts to its intrinsic value of zero. It always has, it always will. Bitcoin, Dash, Litecoin, STEEM, these cryptocurrencies are changing the game.
Bitcoin and Dash has small circulation caps which creates scarcity. They also have application use which brings in an even greater demand. Their success is all a very telling sign of people flooding away from the monetary system and stock markets as fiat looks to repeat what it's done for nearly a thousand years, going back to 1024 AD in China. Crash.
Of course as an update to the original interview, Bitcoin has hit over $11,000 USD and has dropped closer to $9200 USD as it makes a dip while people take profits. This is only expected in a healthy market.
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Awesome interview. The point about the banks co-option the technology and locking us in their cashless system is extremely important. Either decentralized cryptos take over, or totalitarian slavery is in store for all of us.
Jeffrey raises a really interesting point here about the transfer of wealth and the future crypto rich who will be the ones to shape the future direction of society. Perhaps in the long term this will be the most impactful thing about this whole movement and the effect it has on the future direction of the planet. A lot of young people with different skillsets, desires and way of visualising the future suddenly coming into a lot of money will be hugely influential on where we go next as a species
-Absolutely right! These are also the reasons why I believe in bitcoin. Please check my article about it as well. Thanks!
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Catch Me Outside How Bout That
Hello guys check out my latest post in which i discussed how to double your bitcoins in just 20 days with proof. Its absolutely valid, have a look and decide for yourselves.
A few years ago, a bitcoin could be bought for a few dollars. The quality of a bitcoin itself hasn't changed, but now the price is much higher. A bitcoin has no intrinsic value. For that reason, the high prices now could be a warning sign. In the past, gold has played the role of giving warning signs. Now, it's bitcoin. The high prices of bitcoins probably have something to do with the fact, that people are losing their confidence in the current financial system. Bitcoin is considered more and more as a safe haven. Hopefully it is. I think, it's not.
This is true. Bitcoin has changed the world economy.
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Hey, @joshsigurdson Well conversation Bitcoin will rock in market but alt are seems in trouble :)