I can't say I agree with him:
The same can be said of most currencies today really as they are fiat currencies and not exchangeable for gold or anything else. Currencies are mostly just an agreement to have a medium of exchange, and BitCoin is just such a medium. IHis disapproval really seems purely that this particular bit of financial magical handwaving isn't done by a GovernmentThe currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.
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