i still don't fully understand Bitcoin but i call BS on anyone who says "pretend currency" that many times, like all the other currencies aren't imaginary.
http://www.abc.net.au/news/2014-10-02/extended-interview-with-jeffrey-robinson/5787140
Well, currency isn't exactly PRETEND, it's a promissory note backed by a government or other entity, usually based on an economy or other standard (say, the gold standard) for it's value. Bitcoin on the other hand operates much more like a stock than standard currency, but unlike a stock, it doesn't represent ownership in a company or property or any sort. There is no collateral or backing other than what people are deeming it to be worth at that given moment. It's essentially a platform based currency. People deem it's worth based on how much they want to use it, and little else.
So, yes. All money is somewhat based on belief or trust... but there is generally something tangible behind it. Can you say the same for Bitcoin?
a different kind of imaginary is still imaginary.even gold and diamonds are worthless apart from their industrial uses, it's just that people are stupid and like shiny things. a chicken is real and has the value of a chicken but paying with chickens can get messy, especially with large purchases, hence money. being backed by a substance or entity doesn't make a type of currency more real,except in peoples heads.
i spent the day reading his book. (just over half any way)
what a load of shit.
he has no idea!
looks like he wrote his book souly off the WSJ.
hidden agenda...... perhaps. or he got burnt heavy hahaha