I gifted $20 of Bitcoin to Janet Yellen’s public email. Her response: `Thanks so much for the gift! Maybe “to know it” will be “to love it.” `

I gifted $  20 of Bitcoin to Janet Yellen's public email. Her response: `Thanks so much for the gift! Maybe “to know it” will be “to love it.” `

I gifted $ 20 of Bitcoin to Janet Yellen via Biterica. Her gracious response and more background below.

You’re welcome, Janet. Thanks for keeping an open mind!

Response from Janet Yellen

Original Gift

Transaction: https://www.blockchain.com/btc/address/1Jecifwq28Mh9L6thrREiVVwLuKva2qWFp

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Bitcoin – The Currency of the Internet

I disagree Bitcoin will stay neutral or go down with this stocks and imminent next bear market and correction. Bitcoin was intended as a the correct response to the last crisis, however, wasn’t realized then. It will be this time.

I noticed the community insinuating that it will go down with the stock market because people will be trying to pull their money out of markets and look for safe havens in government issued assets and currencies, like the dollar, treasuries and bonds.

This is flawed logic and counter to the exact solution and correct response that Satoshi originated in the last crisis.

Bitcoin is a store of non inflationary, non government, digital money and value, that works better than gold, and is extremely powerful because of it's essence. It is a borderless, censorless, immutable, incorruptible, non inflatable measure we can use to evaluate assets distinct from third party interference. It is a power of accurate and true monetary assessment anyone can use. And with community involvement, and cryptographic developments, will become the central means of merchant and consumer exchange.

Stocks, treasuries and all assets were and have been inflated by governments, grossly and incessantly, since the last crisis to stave off the natural discovery of true underlying value within assets. We are now approaching the pinnacle of inflated valuations and indebtedness because of the governments bandaid response to the last crisis. They are simply out of tools now and there is a new measure of value that is immutable, namely, Bitcoin.

Bitcoin is the answer.

Bitcoin will be realized this time.

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Bitcoin – The Currency of the Internet

Forbes article: “We Need To Shut Bitcoin And All Other Cryptocurrencies Down. Here’s Why.” & My Response

We Need To Shut Bitcoin And All Other Cryptocurrencies Down. Here's Why.

You've got to be kidding me with this absolute garbage. Read it for yourself, but the guy is wrong about almost everything he says. It looks like clickbait, but it's in Forbes and I thought Forbes was a respectable publication. When are journalists going to start taking their publications seriously when it comes to cryptocurrency? Why is this Jason Bloomberg dope the "president" of a tech company?

I got so incensed about it that I pushed out a response article of my own. Read it and give me some feedback, or don't — either way, understand that this is the kind of ignorance we're up against in the crypto world. Dinosaurs who think that the whole idea of a decentralized system is so dangerous that it should just be made illegal.

"First they ignore you, then they laugh at you, then they fight you, then you win." It looks like we're getting to the "fight you" stage.

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Bitcoin – The Currency of the Internet

What is the best response to the argument that Bitcoin isn’t truly scarce?

I’ve heard Peter Schiff argue that Bitcoin isn’t truly scarce because an infinite number of competing cryptocurrencies can be invented. But by that logic, gold isn’t truly scarce either because I can take a random piece of wood, spray paint it gold, and offer this “woodgold” as a competing commodity.

A goldbug might reply that this analogy is ridiculous because gold has properties (scarcity, historical value) that woodgold doesn’t. But that’s exactly the point. Bitcoin has properties that a random altcoin doesn’t; i.e., network security (people seriously underestimate how valuable it is that Bitcoin has survived nearly a decade of sophisticated and persistent attacks), the development community, first mover status, number of adopters, etc. Sure, anyone can create an infinite number of random altcoins, but good luck trying to get people to adopt it and to take the time to protect the integrity of the network.

What is your best response to the “bitcoin isn’t truly scarce” argument?

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Bitcoin – The Currency of the Internet