"You simply can't grow an economy like it's the 20th century with gold, or BitCoin"
Well, the past 4 years have proven you wrong.
Explain how the Bitcoin economy has been able to grow so much since 2009? Why is it that 10,000+ merchants decided to use Bitcoin through Bitpay alone? Why is it that Bitcoin gains more and more users every day?
The answer is that, even if deflation was a problem, which is itself debated [1], Bitcoin's advantages such as being censorship-resistant are unparalleled by any other currency, and that alone gives Bitcoin the ability to succeed where no other currency could.
But Bitcoin isn't a currency for vendors, that is how the problem was solved. It is an investment strategy for consumers and a transaction method for vendors, but not truly a currency.
He was talking about whether Bitcoin will ever become a currency not backed by USD (or whatever) and postulating why that will never be the case.
Bitcoin is currently surviving off its liquidity, not its value as a currency.
Well, the past 4 years have proven you wrong.
Explain how the Bitcoin economy has been able to grow so much since 2009? Why is it that 10,000+ merchants decided to use Bitcoin through Bitpay alone? Why is it that Bitcoin gains more and more users every day?
The answer is that, even if deflation was a problem, which is itself debated [1], Bitcoin's advantages such as being censorship-resistant are unparalleled by any other currency, and that alone gives Bitcoin the ability to succeed where no other currency could.
[1] http://www.forbes.com/sites/jonmatonis/2012/12/23/fear-not-d...