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Alan greenspan invented bitcoin

alan greenspan invented bitcoin

like George Washington to buy armaments and other supplies. Greenspans comments come as the value of a bitcoin is soaring beyond most expectations, having gained thousands of dollars in value in the last two days. Greenspan compared the high-flying cryptocurrency to 1775 Continental currency that was worthless by 1782. You cannot tell me that you can create, out of nothing, something which has a medium of exchange value without bringing into the analysis the fact that sometimes people are a little bewildered, he said. At press time, a bitcoin is worth over 15,000, according to the CoinDesk. By, senior economics reporter, getty Images, former Federal Reserve Chairman Alan Greenspan. "A significant share of it was creating real goods and services" despite the fact that it was ultimately worthless, said Greenspan, who mentioned he was co-writing a book about American history. Alan Greenspan image via Shutterstock. Noting that bitcoin will likely suffer similar fate, Greenspan said that a significant share of Continental currency was still used to create real goods and services, even though it had no ultimate worth.

Greenspan: Bitcoin like Colonial America currency that

alan greenspan invented bitcoin

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Whos the first person that comes to mind when you think about bitcoin? Human beings buy all sorts of things that arent worth anything, but they do it anyway, he said. Greenspan, who said he is in the process of co-writing a book on American history, said bitcoin is just the latest version of the currency used to finance the Revolutionary War. "Humans buy all sorts of things that aren't worth anything Greenspan said. Declared legal tender by the Continental Congress, it derived its value from the amount of paper notes available and the demand for them rather than by the backing of a commodity such as gold or silver. "People gamble in casinos when the odds are against them.

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