Own Cryptocurrency? Watch this. | Robert Reich

[deaddog]

With Bitcoin, the network has never screwed you. Some are heavily in a drawdown, some lost their keys or had them stolen, but Bitcoin hasn't personally screwed them. Central banks continue to screw me every day, and governments continue to tell me it's for my own good, shockingly.

If the bitcoin network has screwed me, and it hasn't so far as I'm not speculating, it that it hasn't really lived up to its hype of being either a currency or a store of value.
Granted I can buy goods and services with my bitcoin, not unlike I can buy goods and services with my Canadian dollar. But to my knowledge there are no goods and services priced in bitcoin.
As far as a store of value, it's more a speculative asset. If I knew I was going to need 100k in 3 months from now I'd keep it in cash. Had I bought bitcoin a year ago on the hype, I'd probably feel I'd been screwed.

 

[Frederick Foresight]

I'll say his points make sense re unregulated uninsured etc makes crypto risky. I don't agree re ponzi

If it is effectively worthless but for the blind faith of relative newcomers propping it up, well, it sure quacks like a duck.

 

[Pekelo]

this dude is a douche and says some of the stupidest political things ive seen from a human

That doesn't mean he can not be very business-wise.

"The Wall Street Journal placed him sixth on its list of Most Influential Business Thinkers"

 

[Frederick Foresight]

That doesn't mean he can not be very business-wise.

"The Wall Street Journal placed him sixth on its list of Most Influential Business Thinkers"

Yeah, but is he ZeroHedge-approved?

 

[NoahA]

Robert isn't so bad. Can anyone argue with this? Like I said, he brings important issues to light. It's just that his solutions are flawed.

 

[BMK]

And who is he anyway? Oh yeah, from the looks of it he owns a youtube channel and rants about everything else going on in this world.

So he really doesn't know anything about crypto except the odvious which he rants about to make it seem like he's an expert.

Yeah, ok old man. Let's get you back to bed now.

Robert Reich is a former US Secretary of Labor. He served under President Clinton.

His YouTube videos may well be garbage. I don't watch that kind of stuff.

I do sometimes read his columns on The Guardian, like this one:

https://www.theguardian.com/comment...h-democracy-attack-media-coverage-republicans