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Max Keiser explains Bitcoin beats both fiat currency and gold because it does not need settlement time.
This is because, in Bitcoin, the transaction and settlement are inseparable from one another.
Moving BTC between wallets simply means updating a ledger, which implies instantaneous settlement as miners confirm the transactions. “There’s a lot of friction, both in paper and in gold.
Bitcoin, uniquely, is self-settling – the transaction is the settlement. When the transaction hits, it settles,” Keiser summarized.
Meanwhile Max Keiser also criticized U.S. congressman Brad Sherman, the notorious Bitcoin critic who continues to argue for an outright ban on cryptocurrency.
“Brad Sherman is going to a gunfight with a knife, he has failed to take on board exactly what the dimension of this battle is going to be,” he said. Keiser added: “He doesn’t understand he’s already lost.”
In other Cryptocurrency news today:
XRP drops 5% as the Ripple flagship Swell conference kicks off.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.