Dean LeBaron

Adventure Capitalist

Video Casts » The Perverse Lesson of Bitcoin for Other Currencies

The Perverse Lesson of Bitcoin for Other Currencies

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A reminder that currency is the value of promises carried by the paper on which it is printed, in the form of Bitcoin, which makes no pretense to have any promise whatsoever except what the market attributes to it. Bitcoin has appreciated sixfold in terms of one of the other promise-backed currencies while dollars ??? in terms of what… gold perhaps and, if so, dollar promises went up compared to those promises elsewhere that went down. A conundrum.

Comments - 2 CommentsPost a comment

  1. Brenda J. Sullivan
    Posted: 13 February 2014 at 10:53 am

    Dear Dean,

    Good video – I now feel I have a better understanding of ‘bitcoin.’ Hope you are doing well – saw a nice article about you in Wall St. Journal a while back – with a picture of you in your FL home. Also article in Forbes re a Irish start-up you had invested in but did not understand it. Its president died mountain climbing. Did not understand service/product they were selling. Very happy you are still active.

    Brenda

  2. altedaseema
    Posted: 4 April 2013 at 22:03 pm

    BitCoin Prices already dropped from $145 USD to $112.00 USD so far Today,
    for inside on the BitCoin market visit – http://btcinvestment.org