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RE: The Bitcoin Ranger? A Response to Mike Adams Uninformed Statements on Bitcoin

in #bitcoin7 years ago

I too follow the Health Ranger's info on all things health related.
I understand his concern about bitcoin, but don't think they'll be any more of an issue than with dollars.
Money is an idea backed by confidence. It has value so long as it holds confidence. Value is subjective. Money could literally be anything we agree upon. So long as we're confident we can use it to exchange for goods and services.
Dollars are just as digital as bitcoin, except the Fed can continue to inflate them to oblivion, as the history of hyperinflation shows.
There's still only a small percentage of the world's population getting into bitcoin, which means the price discovery is still ongoing. Which means it will continue to rise, swing past it's eventual "real value" and then back down, and then back up, etc, etc, etc, until it settles around its "real value" range.