Mish Interview With "Bitcoin Jesus"

Mish Interview With "Bitcoin Jesus"

The newest invention in monetary affairs are the so-called Bitcoins. Their creators and promoters explain them as follows: 'Bitcoins are digital money. They are transferred person to person through Internet without going a bank or a clearing house, so they are independent of the current monetary system. Several currency exchanges exists where you can trade your Bitcoins for dollars or euros, and some small business and freelancers are starting to accept them in payment'. The Bitcoin is a game. We live in a highly confused and perplexed world regarding what real money has to be. Let's get this straight: real money has to be the commodity that is generally accepted by society as payment in full for goods or services received. Throughout history, the commodity most generally accepted in payment has been gold. Silver has taken the second place after gold. Gold and silver were ...

Full article: http://globaleconomicanalysis.blogspot.com/2013/04/mish-i...

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