Former chairman of the Federal Reserve, Alan Greenspan, compared bitcoin to the continental dollar - temporary paper bills that appeared at the dawn of the American Revolution in 1775 and depreciated as early as 1782. This statement was made on the air of CNBC. "Bitcoin is a terrific example of how people create or determine value. And this is not always rational. Do not tell me that you can create an exchange tool from nothing. In this case, this is an irrational currency. But do not think that it will not be sold. While people believe that they will be able to float it to someone, you have everything you need to create a market. For example, people play casino games. There are all chances against them, but it never stopped anyone ", - considers Greenspan. Nevertheless, he noted that much of the continental dollars was spent on "real goods and services", even though the currency, in fact, had no value.

Original article: Ex-head of the Federal Reserve compared "irrational" bitcoin with a temporary currency of the XVIII century.