We dont agree with Kennedy on this one:

We dont agree with Kennedy on this one: As president, I will make sure that your right to use and hold Bitcoin is inviolable. Bitcoin is not only a bulwark against totalitarianism and the manipulation of our money supply, it points the way toward a future in which government institutions are more transparent and more democratic.
Bitcoin is mainly "mined" in China by huge "farms" which are actually warehouses with TONS of computers that use A LOT of electrical current and are actually WAY more expensive than paper money.
Plus Bitcoins can also be traced and they are dependent on electronic equipments to be stored, transactioned...
Hard cash money are always better even with all their flaws.
And yes, people cant print bitcoins but startups can print new coins which are interconected with Bitcoins and are basically equated with Bitcoins. So this is actually a printing of money all the time, and in time this will generate inflation anyway.
And there is the inherent problem of conversions, Bitcoin is worth so much that you have to use decimals 0.00001 of a Bitcoin... Since its impractical to use these decimals, new coins are created to equate those subdivisions. And the new coins are actually new money created out of thin air.
In essence NO monetary system is flawless because it depends on people, market fluctuations and complex things. When a new coin is printed (created) out of thin air, it still is a popularity contest and the decision is just as arbitrary as a bank creating more money.
Yes banks got very greedy but if you think Bitcoin managers are not just as greedy or even more, than you are more naive than i am and i am a very naive person. Also national coins are usually just one, with the explosion of alternative coins this means any rich kid can create a new coin to get even richer. Which means the money printing press is like given to everyone. People can be just as greedy as governments but at least with governments there is only one national coin per state (region of the world) so there is a limited number of them.
Bitcoin has some advantages though because in some parts of the world people literally cant use cash and every transaction is like spied on by some randoom government and there is also a shortage of liquidity. Eventually banks try to create a virtual coin just as much.
The problem with virtual stuff is that they are electronic and no matter how good any electronic equipment is, it cant beat physical money when it comes to durabilty.
For example gold coins found in ancient rome are just as valuable as modern gold, even more valuable. Paper money is indeed not gold but in principle any old person or any person in general if he or she has a stash of money, they can convert it in gold, silver...
Bitcoin has some advantages though because in some parts of the world people literally cant use cash and every transaction is like spied on by some randoom government and there is also a shortage of liquidity. Eventually banks try to create a virtual coin just as much.
The problem with virtual stuff is that they are electronic and no matter how good any electronic equipment is, it cant beat physical money when it comes to durabilty.
For example gold coins found in ancient rome are just as valuable as modern gold, even more valuable. Paper money is indeed not gold but in principle any old person or any person in general if he or she has a stash of money, they can convert it in gold, silver...
Bitcoin is actually held by China industrial power and by the communist Chinese government. The country holding the computers to "mine" bitcoins is actually the country controlling the coin.
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