when powell said that, he wasn't complimenting bitcoin, he was insulting gold. gold and bitcoin are in many respects opposite and complimentary. -gold is intrinsically valuable to humans. -bitcoin is an intangible that has no physical manifestation. -gold has no counterparty risk. -bitcoin depends on electricity and internet access -physical gold is very difficult to transport across national borders in large quantities. -bitcoin is essentially borderless -gold can be difficult and costly to verify purity and integrity. -bitcoin has automatic built in authenticity and integrity. -physical gold is, and has been a store of wealth for literally millennia. -there is no such thing as physical bitcoin, it's value is theoretical until it is exchanged for something tangible. bitcoin offramps are problematic in many countries.
Canada