Last updated on July 6th, 2016 at 11:44 am
Intuitively, bitcoin’s shortcomings as a currency thus far would stem from issues like the absence of government backing, low interest from the broader public and high volatility. Weber approached it from a different angle, essentially saying that bitcoin cannot by printed by governments in times of need- a morally repugnant notion for many hardline Bitcoiners.
“Private currencies will fail to take off because there is no lender of last resort- there will always be boom and bust,”
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