Prof. Wolff, would love to have a "bitcoin for dummies."

is bitcoin something your average jane/joe citizen/consumer should consider as another payment option in everyday transactions? daw's adoption of bitcoin as a donation option would suggest so. however, your recent response to another question about bitcoin in which you say it is, as a private currency, more prone to abuse, suggests otherwise. your response also raises other questions: eg. can we really still call the major world currencies "public," given the control that the elites hold over them? love your shows!!

Official response from submitted

Accepting bitcoins for donations was done fore the convenience of donors. Like accepting Federal Reserve Bills or checks drawn on big banks recently convicted of major lapses of legal and ethical behavior, our acceptance does not mean we accept, condone, or favor any of such institutions. They are all monetary institutions (bitcoin included) now functioning in the world we live in too. All money systems are parts of a capitalist world order that drives their behaviors including the abuses they regularly commit.

Showing 2 reactions

How would you tag this suggestion?
Please check your e-mail for a link to activate your account.
  • Richard Wolff
    responded with submitted 2016-12-23 21:06:31 -0500
  • Stephen Targett
    published this page in Ask Prof. Wolff 2016-12-23 17:39:06 -0500