Doug Casey on Bitcoin and currencies

posted by
June 22, 2011
by Louis James  
Posted in Commentary

Interview with Doug Casey. Casey: "[I]t’s quite encouraging to see that so many people are so disgusted with government currencies, and the total lack of privacy in banking. That’s why Bitcoin could catch on at all. But let’s go back to basics, and see if Bitcoin qualifies as money. Money is a medium of exchange and a store of value. Bitcoin may work as a medium of exchange sometimes, but not a very good one, because it’s proving so unstable. It has fluctuated so much in value over its short life that it is totally unsuitable as a store of value." (06/23/11)  


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