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The Economics Of Bitcoin – Doug Casey Gets It Wrong

The Economics Of Bitcoin – Doug Casey Gets It Wrong: Michael Suede responds to the arguments Doug Casey of Casey Research made recently:
“If people had total confidence in the dollar they would not bother looking for alternative mediums to act as a…

The Economics Of Bitcoin – Doug Casey Gets It Wrong:

Michael Suede responds to the arguments Doug Casey of Casey Research made recently:

“If people had total confidence in the dollar they would not bother looking for alternative mediums to act as a store of wealth”.
“GoldMoney [a company Casey has invested in], like e-gold, has a central point of control that can be corrupted or shut down.  The gold holdings can be confiscated and the gold transactions are not anonymous.  Bitcoins have no central control and are virtually impossible to shut down in the same way BitTorrents are virtually impossible to shut down”.
“I’m shooting myself in the foot with my silver holdings by writing this.  I personally think there is room for both Bitcoins and metals in this world”.

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