HomeUploadUpload DirectHotlinkRandomAbouttheme toggle
Expand

Stossel: Is Bitcoin Better Money?

Views:807
@ReasonVids

Regulators hate Facebook's proposed "Libra” currency. They may kill it. But they can't kill Bitcoin so easily.

-------
Subscribe to our YouTube channel: http://youtube.com/reasontv
Like us on Facebook: https://www.facebook.com/Reason.Magazine.
Follow us on Twitter: https://twitter.com/reason
Subscribe to our podcast at iTunes: https://goo.gl/az3a7a

Reason is the planet's leading source of news, politics, and culture from a libertarian perspective. Go to reason.com for a point of view you won't get from legacy media and old left-right opinion magazines.
---------
Facebook proposed a new digital currency called "Libra." It would be backed by several different existing currencies.

The Libra might be better than the dollar, tech reporter Naomi Brockwell and investor Peter Schiff tell John Stossel. It's easy to send online. If a government currency has a lot of inflation, Libra holders will be largely protected from that.

But politicians oppose Libra. "Why, with all of your problems, should we trust you?" one congressman asked Mark Zuckerberg in a hearing.

"They're threatened by it," Brockwell tells Stossel.

Politicians may succeed in killing Libra. Paypal, Mastercard, and other companies were going to work with Facebook on the project, but they've bailed because they're scared of regulation.

That's why it's good that Bitcoin exists, says Brockwell. Bitcoin, unlike Libra, can't be stopped so easily.

"It is the first currency we've ever seen that is decentralized," Brockwell tells Stossel.

"They can't shut it down," Stossel responds.

"Exactly. That's why it's still around, because they haven't been able to have these hearings. They haven't been able to call on the CEO of Bitcoin and say, 'You'd better cease and desist.'…There is no server to unplug. There is no company to shut down, no CEO to throw in jail, so it persists. That's really exciting."

Bitcoin is mostly safe from government because it "lives" on thousands of individuals' computers, so no government can stop it by pressuring any one company.

But investor Peter Schiff says Bitcoin is a "bubble." He recommends investing in gold.

"Gold has worked for thousands of years. Bitcoin's only been around for ten," Schiff argues. "Gold has actual value. There's a huge industry that needs gold. Jewelry…you have it in consumer electronics and aerospace and medicine."

Stossel says: "I don't presume to know which way prices will move. But I do know that it's good to have alternatives to dollars."

The views expressed in this video are solely those of John Stossel; his independent production company, Stossel Productions; and the people he interviews. The claims and opinions set forth in the video and accompanying text are not necessarily those of Reason.

libertarian
,
reason magazine
,
reason.com
,
reason.tv
,
reasontv
,
bitcoin
,
ethereum
,
cryptocurrency
,
gold
,
libra
,
mark zuckerberg
,
regulations
,
hearing
,
congress
,
facebook
,
blockchain
,
censored
,
regulation
,
bubble
,
decentralized
,
litecoin
    Thumbnail for American Dharma: Errol Morris on Steve Bannon, Cancel Culture, and His History With Theranos22:28
    American Dharma: Errol Morris on Steve Bannon, Cancel Culture, and His History With Theranos
    ReasonVids
    872 views
    Thumbnail for Capitalism vs. Slavery...and The New York Times' 1619 Project1:18:51
    Capitalism vs. Slavery...and The New York Times' 1619 Project
    ReasonVids
    754 views
    Thumbnail for BREAKING NEWS: Ted Cruz Unleashes On Mark Zuckerberg In Senate Judiciary Hearing On Social Media | Forbes Breaking News5:42
    BREAKING NEWS: Ted Cruz Unleashes On Mark Zuckerberg In Senate Judiciary Hearing On Social Media | Forbes Breaking News
    invidious
    325 views
    Thumbnail for This Hacker Is Teaching a Smartphone App to Drive Your Car29:25
    This Hacker Is Teaching a Smartphone App to Drive Your Car
    ReasonVids
    968 views
    Thumbnail for South Africa - Value Warehouse on fire at Cato Ridge [2021/July]0:21
    South Africa - Value Warehouse on fire at Cato Ridge [2021/July]
    godiswhite
    1181 views
    Thumbnail for Police Posing as Punks Bust Rockers: Don't Cops Have Better Things to Do?!1:54
    Police Posing as Punks Bust Rockers: Don't Cops Have Better Things to Do?!
    ReasonVids
    1017 views
    Thumbnail for That’s a huge list of ingredients and safety data in the J&J vaccine 🤔0:58
    That’s a huge list of ingredients and safety data in the J&J vaccine 🤔
    AOU
    1305 views
    Thumbnail for   Bake All Heebs (A-Ha: Take On Me)4:25
    Bake All Heebs (A-Ha: Take On Me)
    judenhass
    2408 views
    Thumbnail for "Red Army" Film Explores Sports as Propaganda3:49
    "Red Army" Film Explores Sports as Propaganda
    ReasonVids
    927 views
    Thumbnail for this is who they'll send for your guns1:29
    this is who they'll send for your guns
    bestofupgoat
    428 views
    Thumbnail for $20,000,000,000,000 in Debt and Rising3:32
    $20,000,000,000,000 in Debt and Rising
    ReasonVids
    850 views
    Thumbnail for Israel Gaza War - LIVE Breaking News Coverage (with Ground Invasion Updates) | Agenda-Free TV7:36:10
    Israel Gaza War - LIVE Breaking News Coverage (with Ground Invasion Updates) | Agenda-Free TV
    invidious
    342 views
    Thumbnail for Now Playing at Reason.tv: Interview with a libertarian Democrat!5:51
    Now Playing at Reason.tv: Interview with a libertarian Democrat!
    ReasonVids
    993 views
    Thumbnail for The War on Sex Trafficking is the New War on Drugs1:05
    The War on Sex Trafficking is the New War on Drugs
    ReasonVids
    907 views
    Thumbnail for Is It OK To Punch a Nazi? We Asked Berkeley Students.7:23
    Is It OK To Punch a Nazi? We Asked Berkeley Students.
    ReasonVids
    928 views
    Thumbnail for [권순표의 뉴스하이킥] 대통령실, 명품백 정보비공개 이유? 국가 중대 이익을 현저히 해칠 우려 - 헬마우스, 노영희, 신현영, 변상욱, 오윤혜, 김영우 | MBC 라디오 시사2:15:20
    [권순표의 뉴스하이킥] 대통령실, 명품백 정보비공개 이유? 국가 중대 이익을 현저히 해칠 우려 - 헬마우스, 노영희, 신현영, 변상욱, 오윤혜, 김영우 | MBC 라디오 시사
    invidious
    287 views
    Thumbnail for Clown World0:41
    Clown World
    bestofupgoat
    313 views
    Thumbnail for Don't Regulate Social Media: Free Speech Matters More Than Fake News6:01
    Don't Regulate Social Media: Free Speech Matters More Than Fake News
    ReasonVids
    962 views
    Thumbnail for Drinker's Chasers - George RR Martin Lashes Out At "Toxic Fandoms" | Critical Drinker After Hours11:27
    Drinker's Chasers - George RR Martin Lashes Out At "Toxic Fandoms" | Critical Drinker After Hours
    invidious
    313 views
    Thumbnail for VERONA-EMPOLI 1-4 | HIGHLIGHTS | FIVE Goals in One Half as Empoli Thrash Hosts | Serie A 2024/25 | Serie A2:23
    VERONA-EMPOLI 1-4 | HIGHLIGHTS | FIVE Goals in One Half as Empoli Thrash Hosts | Serie A 2024/25 | Serie A
    invidious
    103 views
    Thumbnail for Ben Shapiro reacts to Elon Musk doing the Roman salute 0:27
    Ben Shapiro reacts to Elon Musk doing the Roman salute
    bestofupgoat
    101 views
    Thumbnail for It bounces? Who designs a gun that bounces!? | Halo Infinite | BobbyBoucher310:29
    It bounces? Who designs a gun that bounces!? | Halo Infinite | BobbyBoucher31
    invidious
    367 views
    Thumbnail for EFF Sues NSA, DOJ Over Secret Surveillance Program8:33
    EFF Sues NSA, DOJ Over Secret Surveillance Program
    ReasonVids
    890 views
    Thumbnail for 3 Reasons Mitt Romney and Republicans Lost Big in Election 20122:31
    3 Reasons Mitt Romney and Republicans Lost Big in Election 2012
    ReasonVids
    916 views
    Thumbnail for Can Elon Musk Keep Ukraine Online?4:40
    Can Elon Musk Keep Ukraine Online?
    ReasonVids
    945 views

points

Permalink
Reply
libertarian
,
reason magazine
,
reason.com
,
reason.tv
,
reasontv
,
bitcoin
,
ethereum
,
cryptocurrency
,
gold
,
libra
,
mark zuckerberg
,
regulations
,
hearing
,
congress
,
facebook
,
blockchain
,
censored
,
regulation
,
bubble
,
decentralized
,
litecoin
TOS  •  Add Keywords  •  Donate  •   Analytics  •   DMCA  •   Puzzle