Chapter
Debating the critics of Bitcoin.
18:19 - 22:48 (04:28)
The transaction made through Bitcoin will exist in the blockchain forever and people will need to report the realization event for substantial assets like houses or businesses, countering the critics' exaggerated fears of illegal use. Critics of Bitcoin tend to overlook the technology aspect of it.
Clips
The fear of Bitcoin being used illegally is an old meme and the technology behind it on the blockchain means transactions will be forever recorded for both parties.
18:19 - 22:48 (04:28)
Bitcoin
Summary
The fear of Bitcoin being used illegally is an old meme and the technology behind it on the blockchain means transactions will be forever recorded for both parties. Critics of Bitcoin often don't understand the technology behind it and for substantial assets like property or businesses, the other side will report the transaction as a realization event.