Jerome Powell: “People use #Bitcoin as a speculative asset. It’s just like gold, only it’s digital.”
Powell and company can keep trotting out this trope but the data is clear and becomes more overwhelming every day; there are millions of people around the world who use bitcoin as their primary savings technology and send bitcoin payments to purchase things. MILLIONS.
Nostr’s circular bitcoin economy is a direct affront to the notion that bitcoin is purely speculative.
I just paid for a landscape architect for my house in bitcoin.
Time has passed Powell. Stuck in the past
He’s only partially right. The primary reason it isn’t used more from a payment standpoint in the US is because of the onerous tax treatment imo. Remove that barrier and it competes with the dollar.
Thank god he and his kind don’t get it yet. They will soon enough 😳
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Jerome is a fiat tool.
This is like getting me and my neighbor on stage and asking us about Elon’s rocket program.
"bitcoin does not compete with the dollar. bitcoin is like gold" - what the fuck dude
