Jim rickards bitcoin
critics may claim, Im not some technophobe who doesnt understand the technology underlying cryptos. Dollar that I devised for the Pentagon in their first-ever financial war game in 2009. But people love to discuss it, and I guess Goldman Sachs is no different. He pointed out in the interview one of his main issues with digital currencies: Bitcoin is digital.
Has Jim Rickards Changed His Mind on Bitcoin?
Dear Reader, My readers know Im not a bitcoin proponent.
I dont deny that its made some people a lot of money, but I believe bitcoin.
Jim Rickards is the editor of Strategic Intelligence and the author of Currency Wars: The Making of the Next Global Crisis.
Although the majority of the conversation focused on Rickards new book, the economic commentator also shared some thoughts on Bitcoin. Although governments benefit from this advantage, it hasnt stopped many forms of government money from facing a loss in confidence over the years. You can follow @kyletorpey on Twitter. Do you think bitcoin will win the most in this scenario? Kyle Torpey is a freelance journalist who has been following Bitcoin since 2011. If the power grid goes down, your bitcoins are worthless. Distributed ledger technology is another term for the blockchain technology I discussed above. Despite everything you may hear in the mainstream media, gold is as relevant as ever. Once that system is up and running, the brics can trade and settle 2 50 in bitcoins oil, commodities, weapons, manufactured goods and the overall balance of payments without using dollars or Western financial intermediaries at all. Dollars, are not backed by anything. Put another way, governments essentially create an artificial use case for their own forms of paper money by threatening people with punishment if they do not pay taxes, which are denominated in the governments own fiat currency, to the government. Rickards addressed this argument head-on, saying hes studied many Bitcoin and blockchain technology papers.