Former Federal Reserve Chairman Alan Greenspan compares bitcoin to gambling in Las Vegas.
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According To Alan Greenspan, Bitcoin Is ‘Not A Rational Currency’ | CNBC

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25 COMMENTS

  1. Greenspan is a dinosaur. He is absolutely wrong because of the obvious nature of Bitcoin. The tech makes sense and the limited number of btc makes it a great store of value. That said, Greenspan will be extinct one day, while the millennials will rise up and determine what a currency is or is not. HODL BTC, the banks are threatened and want control.

  2. "Not a rational currency". Greenspan? Did you do any studying whatsoever on bitcoin? Bitcoin was created largely based on the 2008 financial crash because of a distrust in fiat currency that can be printed into infinity by the fed.

  3. Pyramid scheme. The ones that makes money from pyramid schemes are the ones that gets out first. Someone with a lot of money will buy lots of Bitcoins, wait a while and then sell and cause a panic. Me I bought the silver Bitcoins……

  4. Gee, I just thought of Mr Greenspan this morning; how curious to see him today.

    The thought was about his comment some years ago that "There was a flaw in my model." And what was that flaw? — the fact that CEOs and boards of directors may do things to hurt shareholders! Really? An economist who knows nothing about affinity crimes should stick to playing the saxophone.

    Who steals from immigrants? Long-established Americans whose ethnicity has long lost its "taint"?
    Who steals from real-estate investors? New immigrants?
    Hasidim steal from Hasidim. LDSers steal from LDSers. Kids in grade school know that.

    The public is EXACTLY the people who run publicly traded businesses will target. That is the very soul of affinity crime, which has to account for a pretty large proportion of white-collar crimes. Yet the way the former chairman said it, the flaw was implied to be deeply technical matter for economist/mathematicians. That flaw was about as subtle as not seeing the pedestrian you just killed because you were watching TV while driving.

    So, with that rant out of the way, who can listen to an old person who says that gold, an inedible, not-particularly-rigid, (though admittedly pretty) metal, has value, while a publicly confirmed, permanent record of all business transactions is of NO value?

    Fooey.

  5. What coffin did they dump him out of for this commentary. Didn't this fool have his hands all over the housing market crash. Go back to bed buddy, we got it from here.

  6. "You cannot tell me that you can create, out of nothing, something which has a medium of exchange value." – the very definition of your own bank's fiat currency, Mr Greenspan.

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