“Cryptocurrency doesn’t pass the basic test of what a currency should be,” Williams said on April 20, as reported by CNBC. “[Currency is] basically something with a store of value [and bitcoin is not that].”
ccn.com
Lol
Joseph Collins
Nolan Brown
Literally not even one of the rules of currency.
>make up arbitrary definition of word
>it doesn't apply to something that wouldn't have that definition
>fool people
I dont think that blockchains primary function will be as a currency (but rather smart contracts), but it's very foolish to say that a currency should be something with a store of value (assuming that bitcoin isn't). If anything, bitcoin isn't a good currency because it is a store of value
A currency is a means of exchange.
Nolan Lewis
> Williams, who’s currently president of the Federal Reserve Bank of San Francisco
Banker dissing crypto, color me surprised.
Parker Ramirez
Yeah and you can totally store value in green paper and bank money.
Christopher Gutierrez
>currency needs to be a store of value
wut
Mason Hill
Unironically btfo
Brayden Foster
dsadssdadsa
Matthew Murphy
Quick someone email Williams, I'm sure his opinion will change when confronted with conflicting evidence.
Cameron Sullivan
its worse because its so dumb that theres no way he really thinks that. He's intentionally feeding lies to a financially illiterate public. his public speaking face looks so stupid that its probably an inside joke among him and his friends. They're mocking us
Jaxson Cooper
You can store wealth in green paper dollars IF those dollars are backed by REAL money... gold.
Problem is the Jew anti gold propaganda for 100 years has made you not understand what it is that made the dollar valuable and it was gold.
Some of you crypto people are retarded. Half the reason people have been flocking into crypto is because the dollar is failing BECAUSE it isn't backed by gold whether you realize it or not.
Even MORE ironic is the fact that you idiots literally market crypto/gold as the "new gold" while at the same time being against owning actual REAL gold. It literally defies logic.
"Gold is money - everything else is credit." - JP Morgan
Bitcoin is a currency that relies on another currency. The primary function of MONEY is to measure VALUE. Nothing has ever done that better than gold and you certainly can't do that with bitcoin. Money is a MEASURE of VALUE.
You guys don't even understand he primary function of money.