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Joe Weisenthal: Only Point of Bitcoin Is to Do Transactions “THE MAN Doesn’t Want You to Do”

Blockchain.News Official   Oct 18, 2019 00:00 2 分钟阅读

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This article is contributed by our content partner, Nexchange NOW.

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Former Business Insider executive editor and current Bloomberg Business editor Joe Weisenthal had some interesting things to say about bitcoin and blockchain.

Weisenthal recently posted parts of his Bloomberg Markets newsletter on Twitter and detailed his view that the only point of bitcoin is “to do the transactions THE MAN doesn’t want you to do (including illegal transactions).”

 

He also had these to say:

 

 

Needless to say, this did not sit well with several people. Anthony Pompliano, founder of Morgan Creek Digital Assets, called Weisenthal’s entire argument “wildly inaccurate,” adding:

“YOU’RE CLAIMING THAT NON-CENSORSHIP IS THE ONLY VALUE PROP OF BITCOIN. WHAT ABOUT THE NON-SEIZURE ELEMENT? WHAT ABOUT THE DISINFLATIONARY MONETARY SUPPLY? OR THE SOUND MONEY ELEMENT? OR PSEUDONYMITY? PLEASE STOP WRITING NONSENSE & MISINFORMATION.”

Gemini Bitcoin Exchange co-founder Cameron Winklevoss meanwhile criticized Weisenthal’s reasoning that the money plowed into bitcoin further enables those who use bitcoin commercially.

He said “you wouldn’t argue that the liquidity of the gold market enables ‘transactors,’” adding that “Everyone knows it’s a store of value, not a medium of exchange.” He then asked: “why are you applying this tortured argument to Bitcoin?”

Weisenthal, for his part, admitted that liquidity in gold does enable “transactors” but pointed out that it’s “extremely hard to use gold in a censorship-free manner” and that it’s “not a selling point” for the precious metal. Winklevoss then asked “who exactly is transacting in gold?” to which Weisenthal relented and said that he “generally” agrees with him.

Image via Shutterstock

Original Article:
http://www.nexchangenow.com/news/blockchain/71161/joe-weisenthal-only-point-of-bitcoin-is-to-do-transactions-the-man-doesnt-want-you-to-do/


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