From "Ponzi" To "We're Working On It" - BIS Chief Reverses Stance On Crypto
Authored by William Suberg via CoinTelegraph.com,
The head of the Bank of International Settlements (BIS) has appeared to U-turn on issuing digital currencies after a fresh interview with the Financial Times on June 30.
image courtesy of CoinTelegraph
Speaking to the publication, BIS chief Augustin Carstens actively endorsed the creation and issuance of digital versions of national fiat currencies.
“Many central banks are working on it; we are working on it, supporting them,” he said.
“And it might be that it is sooner than we think that there is a market and we need to be able to provide central bank digital currencies.”
The comments struck a curious note with many, coming just months after Carstens emphatically advised against issuing such digital currencies.
In a speech in March, he listed various risks for banks considering doing so, arguing innovation should not come too fast.
In addition, both the BIS and Carstens himself are outspoken critics of decentralizedcryptocurrencies such as bitcoin (BTC).
Last year, he described bitcoin as lacking the ability to ever function as money and directed young people to “stop trying to create money.”
“...If you look at them closely, cryptocurrencies are, in a nutshell, a bubble, a Ponzi scheme and an environmental disaster - the latter because of the high energy consumption needed to run the infrastructure for these cryptocurrencies,” he said in July.
More recently, the BIS has come out critical about Facebook’s new Libra cryptocurrency protocol, similarly due to the fact it resembles money beyond the control of a government.
https://www.zerohedge.com/news/2019-07-01/ponzi-were-working-it-bis-chief-reverses-stance-crypto
augustin is an environmental disaster
a dozen cows would not be anough to make a leather jacket from him
maybe if banks go under he will have to get a job and lose that fat fuck weight of his and it might actually do him some good
but who will hire a retard like that
great post and keep up the good work
More and more people will find the value of Bitcoin.
Hola @zer0hedge gracias por esta información tan valiosa…
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vamoss!!
WOW that's great!!!!
Central bank electronic currencies would be centrally planed and controlled. Every transaction tracked, no privacy what so ever. Real cryptocurrencies must lead the way to freedom. The governments and central banks are just pissed off because real cryptocurrencies will take away their monopoly on currency. Crypto’s are legitimate and will only gain value as more and more people use them. Even the electronic currencies that are not true crypto’s like Libra and central banking currencies will open the door to the real crypto’s.
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well said @zer0hedge, can i send you a message on discord??