I do not understand where the backing of Bitcoin is coming from. There is no fundamental issue of capabilities of repaying it in anything which is universally acceptable, which is either intrinsic value of the currency or the credit or trust of the individual who is issuing the money, whether it's a government or an individual.

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About Alan Greenspan

Alan Greenspan was a 20th-century American economist and financial advisor. Alan Greenspan is an American economist who served as the 13th chairman of the Federal Reserve from 1987 to 2006. He worked as a private adviser and provided consulting for firms through his company, Greenspan Associates LLC. Read more on Wikipedia →

Themes

  • Money — Thoughts on wealth, value, and material pursuits

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