Bitcoin Musings
Quotes about economy, society and Bitcoin

Transaction settlement


Max Keiser on Kitko News

Both fiat money and gold are inferior to Bitcoin for one very simple reason: that with a Bitcoin transaction, it is also simultaneously the settlement. You don’t have that with fiat, you don’t have that with gold. If I do a transaction with gold, the gold has to be verified. If I do that in fiat, that fiat has a verification level. And we see the repo market - because banks don’t trust each other, repo rates are skyrocketing. You have to settle these trades. Until a trade is settled, it doesn’t really count. With Bitcoin, when you do a Bitcoin transaction, the transaction is the settlement.