I've always argued that this country has benefited immensely from the fact that we draw people from all over the world.
Alan GreenspanRead
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.
Interpretation
What this quote means
The quote expresses skepticism about the fundamental value and backing of Bitcoin as a currency.
Alan Greenspan raises concerns about Bitcoin's lack of intrinsic value and its reliance on trust, questioning what underpins its worth. He suggests that for a currency to be considered reliable, it should have a universally accepted foundation, such as government backing or tangible value, which he believes Bitcoin lacks.
Themes
BitcoinCurrencyValueTrustEconomics
In practice
Example use cases
Discussing the risks of investing in cryptocurrencies during a financial seminar.
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