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Ray Dalio bashes bitcoin. It& #39;s not a medium of exchange and not a store of value, he says.
I wonder what Dalio thought of email in 1996 when it had 25 million users. You could only reach a fraction of the population with it (0.4%). Clearly, it wasn& #39;t a medium of communication.
I wonder what Dalio thought of email in 1996 when it had 25 million users. You could only reach a fraction of the population with it (0.4%). Clearly, it wasn& #39;t a medium of communication.
Is bitcoin not digital gold until it trades like gold? Are emails not digital letters until most people have an address?
What& #39;s so difficult to understand? We& #39;re saying we& #39;ve been able to recreate the fundamental properties of something, but in a digital format.
What& #39;s so difficult to understand? We& #39;re saying we& #39;ve been able to recreate the fundamental properties of something, but in a digital format.
Just because you have recreated something in a digital form, it doesn& #39;t mean that what you& #39;ve created is going to act like the thing it is competing with from day 1. What it means is that it has a technological advantage, so that *if* it was widely used, it& #39;d be >10x better.
bUt iT iS nOt A gOod meDiuM of ExcHaNgE
Yes. And a car is not a good medium of transportation until you have roads. The combustion engine was thus clearly a waste of everyone& #39;s time.
Yes. And a car is not a good medium of transportation until you have roads. The combustion engine was thus clearly a waste of everyone& #39;s time.
