Howard Marks: 'I see no reason why bitcoin can’t be a currency'

Well, Howard, sit back and get prepared to be educated.


Ann Pettifor, leading economist and author of "The Production of Money" told Business Insider that bitcoin is flawed as money because it is a "finite asset."

Speaking about the origins and usage of bitcoin, she said: "Bitcoin was invented by some big bad guys on the dark web as a secret currency, for which they could exchange goods and services.

"The idea was similar to the gold standard which is that you would have a finite asset - which is your bitcoin, which would then increase in value over time because it is finite.

"The problem with a finite asset is that the economy is not finite, and if you have a limited amount of money to match this almost unlimited capacity of people in the economy to do things, money doesn't work."

That explains why bitcoin is not a legit currency. I would add that it's not backed by any government and thus is a counterfeit currency. Not to mention it's mostly used on the dark web for criminal purposes

Bitcoin being backed by a government would defeat the purpose of Bitcoin smart guy.

A currency for money laundering. haha

I sense that sooner or later, currencies not issued by central banks will be banned

more people will start to be against central bank as the education is growing . then what ban on internet ? civil war ?

A simple and very predictable scenario to a Bitcoin crash in one word;
Hacking.

You and gravitist are quite a sore losers, give it a break ehh???

What were the crooks, mafia, ransom guys, politicians and bankers using before 2009 to launder money???? Air??? Skiddles?? Toilet rolls?????

And speaking of the future - how good is one Orwellian 1984 dystopia, with all freedoms suspended, two fiber cables up your......nose and no problems.????
A Matrix -style experience!!!

Yeah, you should know
LOL.