[2017-12-16] Bitcoin waves causing me to loose sleep-Bank of Canada Governor

[SlipMart]

                                                       

Stephen Poloz, governor of Canada’s central bank while speaking in a year end speach titled “Three Things Keeping Me Awake at Night,”, told attendees at the Canadian Club of Toronto that the three things that keeps him awake at night at they heads into the new year are;

Cyber threats
Rising household debt due to the cost of housing, and
The difficulties that younger Canadians face when trying to find employment.

However, before he concluded his speech, Poloz confessed that there is something else that causes him to lose sleep: “the noise I keep hearing about cryptocurrencies, especially Bitcoin.”

Read more: https://bitzamp.com/bitcoin-waves-causing-me-to-loose-sleep/

[CryptoBry]

Now, that is an honest admission from someone who is on the top of the Central Bank sector. And he should really be concerned because Bitcoin and cryptocurrency can never be fully controlled by anyone including those in the authoritative position of the government. This is representing a revolution of giving back the power to the people -- this power can be disruptive either for good or for bad depending on what can happen in the next few years. I am also sure that he is not alone disturbed by cryptocurrency. However, the next thing to do is to treat it as a friend and not an enemy just like what Japan is doing since the government can then enact regulatory laws and procedures so that they are not kept on the dark but also participating in this new innovation.

[Gotottack]

Bitcoin's price is making me sleep-deprived either. You know, we have to admit how powerful cryptocurrencies are in this day and age. Almost everyone, notwithstanding its legal implications, seek of its development. I think the only factor that causes why some governments cannot acknowledge this evolution is because they do not understand Bitcoin's implications as of present. If only they would conduct extensive research and development, then perhaps they would consider making it a legal tender.

[uslfd]

The fact that btc could keep him up at night indeed says a lot about the great changes / opportunities blockchain is opening before us.
whether btc will succeed in 10 yrs or not it won't change the fact that blockchain is here to stay.