Comments by "Trazyn" (@Trazynn) on "Is Bitcoin an Emerging Safe Haven Amid Greek Uncertainty?" video.

  1. The supply of bitcoin is limited. No more than 21 million can be in circulation. The US government on the other hand, can print as much US dollars as they want. And they're doing that through quantitative easing. https://en.wikipedia.org/wiki/Quantitative_easing Nobody controls bitcoin which makes it more reliable than any currency that is controlled by one single entity.
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  2. Yenta Yo What currency isn't hocus pocus?
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  3. The backing of a nation is a weakness! They hold the coin and they decide what happens to it. A government can inflate the coin and dump on their public, like happens now in the EU as well as in the US.  That won't happen with Bitcoin. Nobody can mess with the amount of coins in circulation. It has a smaller market cap for now but the bigger that grows and the more people start using it, the more stable the price gets and you'll be looking at a currency that's much more powerful than anything a government owns.
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  4. Aye. It's not that a nation can't afford to give everyone a decent life. It's just that desperate people are more obedient.
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  5. Greece is too large to adopt Bitcoin has a currency. Or put it differently, the market cap is way too low and the trading volume way too small for a country to start acquiring a portion of it on the short term.
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  6. stoneageman18 Sure. privately people can buy all the bitcoin they want. But for big investors Bitcoin is still too small. They can't buy the coin without letting the prices skyrocket with their buy pressure. They can only acquire it slowly, like everyone else. Greece has a gdp that's roughly a hundred times bigger than Bitcoin. They can't just swap one official currency for a new, decentralised one without getting ripped off by all the current holders.
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