Bitcoin

By Grant Davies

Is Bitcoin fools gold? Is Bitcoin a new paradigm? Is it understandable? Are most people disregarding it because they don't understand it? Are many people disregarding it because they don't like change? Are governments terrified of it? If so, why? So many questions. So few answers. I certainly don't have them.

Recently a guy named Stiglitz proved that Nobel Prizes ain't what they used to be when he weighed in on whether the governments who control all the money should outlaw Bitcoin (of course) to avoid losing power. (That's not exactly his stated reason, but in my opinion, it's the actual reason.) If I ruled over everyone else's money to my own great advantage I'd be contemplating that challenge to my power as well. The poor over-educated, but confounded, old guy doesn't even understand that trying to outlaw it is as futile as abolition was.

That introduction aside, let's take a peek at a YouTube presentation that attempts to explain some things about Bitcoin. It's worth the trouble because if we are still very confused after watching it, we won't be worse off. I'm a bit on an expert in confusion myself. Sadly there is no Nobel Prize for that.

A friend, Bill Ulivieri, who does understand a thing or two about Bitcoin, posted the video on his Facebook page and I thank him for being able to present it here for your contemplation.

No matter what you conclude about Bitcoin, I bet you never imagined a future that looks like the one described in the presentation. Mankind never seems to see the big changes coming.

If you win the bet, I might pay you in block-chain..er..Bitcoin..or something.......