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Bitcoin Can Go to 2,100.000,000,000,000?

by Martin Armstrong, Armstrong Economics:

Now others say that number is wrong and bitcoin can go to 2,100.000,000,000,000. If that is true, then my first statement is correct. If everyone swapped all money for bitcoins then what is the difference? This is not a question of supply. Money is just a medium of exchange not a sort of constant value and that seems to be the whole problem. Then the argument seems to turn back in on who is in charge. Isn’t that what I have been saying? It is not WHAT money might be, but government that has been the problem.

Some people want to create an alternative to the dollar that magically holds its value. That part is simply impossible for people will swing back and forth between wanting money in an economic decline and then wanting to spend it to buy assets. This is a perpetual cycle that runs through all systems and governments. I do not know how to stop that.

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1 comment to Bitcoin Can Go to 2,100.000,000,000,000?

  • Armstrong’s ramblings about Bitcoin only demonstrate his utter ignorance of what Bitcoin is and how it works. Armstrong should just stick to his collapse wave theory thing instead of talking about things he knows nothing about.

    “This is not a question of supply.” What kind of a stupid statement is this? Of course it’s a question of supply. The FED has been creating “money” (or rather currency) out of thin air and diluting the currency already in existence. That’s why the dollar keeps losing value.

    Armstrong is totally out to lunch with his understanding of Bitcoin.

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