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"Bitcoin is the future of money."
"The US dollar and other fiat are printed without any backing but bitcoin is finite..."
This was just broadcast to millions on Iran's National News station. They ended the piece by interviewing some bitcoin sellers 
pic.twitter.com/F8jXnMwHkm
![Alex Pundit [LTC] [XVG]](https://pbs.twimg.com/profile_images/1012231823626137600/oWaL8UQG_normal.jpg)
"Bitcoin: Virtual Money in Real Space It is money, just not paper or metal. Its decentralized, not dominated by governments and central banks, and its value depends on the set of users that use it for trading and investment." Iran is really starting to get it.
Just realized the video is cut off. Here is the whole video and an accompanying article: http://www.iribnews.ir/fa/news/1937431/ …بیت-کوین-پول-مجازی-در-فضای-واقعی
Since this broadcasted, one of the Iranian bitcoin sellers interviewed said his business increased 3x!
I'm still not following what is backing crypto. Fiat currencies are at least backed by full faith and credit. And isn't the most important function of currency to act as a medium of exchange to facilitate transactions? Doubt anyone is using cryptocurrency to make purchases.
These are very legitimate questions, Stuart. A great explanation on this is @saifedean's (who wrote the book on bitcoin economics) interview here:https://twitter.com/janeygak/status/925460555216883715 …
Thanks Janet!
You're welcome! Be sure to also check out the articles at @NakamotoInst:
http://nakamotoinstitute.org/crash-course
Cannot understand a thing they are saying , wish I could understand Iranian language.
Don't worry, I translated the most important parts.
Thanks Janey, appreciat it. :-)
A money that has finite supply isn't very useful though. There's an in-built incentive to hoard. Same reason why deflation is so damaging when it happens to fiat money.
But it also means the economy grinds to a halt. There's a reason central banks aim for low inflation rather than low deflation.
But you want people to save by lending, not under the mattress.
Nothing backs the U.S dollar just debt not btc not gold just debt. Pass it on lol. Btc has proof of work cost money to make it and no debt backing it.
The fact that it is finite is what makes it troubling. Literally all wealth could be held in the hands of just a few.
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