Max Keizer: Bitcoin’s ‘self-assessment’ is a revolution against the dollar
Bitcoin (BTC) outperforms fiat currency and gold because it doesn’t need liquidation, RT host Max Keizer said.
In the latest episode of the network’s Keizer Report on November 7, the well-known Bitcoin bull explained that other forms of transactions need time for liquidation, but Bitcoin does not.
Keizer: the “unique self-assessment” of BTC
This is because, in Bitcoin, the transaction and settlement are inseparable from each other. Moving BTC between wallets simply means updating a ‘ledger’, which implies an instant settlement while the miners confirm the transactions.
“There is a lot of friction, both in paper and gold. Bitcoin is uniquely liquidated automatically; the transaction is liquidation. When the transaction arrives, it is liquidated,” Keizer summarized.
The episode appeared while governments that support the idea of fiat money on paper with digital versions of national currencies continue to give talk around the world.
As Cointelegraph reported, it seems that China would be the first state to issue a digital yuan, while other central banks are considering the possibility, including the European Central Bank or ECB.
While digital transactions would reduce both costs and settlement times, the relationship of those currencies with the fiduciary system ultimately makes them political tools – with Keizer pointing to the “conversion into a weapon” of the US dollar for sanctions – and subject to censorship, as well as other difficulties of centralization.
The anti-Bitcoin congressman “does not understand that he is lost”: Meanwhile, Keizer also criticized US Congressman Brad Sherman, the notorious critic of Bitcoin who continues to defend a total cryptocurrency ban.
“Brad Sherman is going to shoot with a knife, he has not taken into account exactly what the size of this battle will be,” he said. Keizer added: “He doesn’t understand that he’s already lost.”
Other governments that seek to undermine the supremacy of the US dollar should open their access to Bitcoin and make it part of their reserves. Rumors have long circulated around Russia, in particular, that it would have been accumulating large amounts of Bitcoin in the face of international sanctions.
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