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Author Topic: [2015-11-29] Economists suggest small Bitcoin reserve  (Read 257 times)
sirohige
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November 29, 2015, 02:48:31 PM
 #1

NO MORE THAN a “relatively small” amount of digital currencies such as Bitcoin should be used if the Central Bank decides to include them in Barbados’ foreign reserves. That’s the advice coming from Barbadian economists Dr Winston Moore and Jeremy Stephen who have produced a paper entitled Should Cryptocurrencies Be Included In The Portfolio Of International Reserves Held By The Central Bank Of Barbados?

The two, who have both served as head of the Barbados Economic Society and currently lecture at the University of the West Indies, Cave Hill Campus, said once more participants like Citibank “continue to enter the market and support transactions via the blockchain”, “the counter part risks to smaller and highly vulnerable central banks, such as the Central Bank of Barbados, will be minimised”.

http://www.nationnews.com/nationnews/news/74760/economists-suggest-bitcoin-reserve
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November 29, 2015, 04:17:52 PM
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Actually I am quite surprised by that idea in a positive way. The fact that nations like Barbados are starting to notice bitcoin influence and potential is a good sign.
But I wonder how much is that 'relatively small' amount for them? I would imagine to have some effect it must be around $100-500 millions in bitcoins...

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November 29, 2015, 04:50:44 PM
 #3

any bank says they're involved with bitcoin is clickbait:

https://en.wikipedia.org/wiki/Clickbait
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November 29, 2015, 05:38:08 PM
 #4

Best quote:

Quote
The counterfactual exercise suggests that had the Central Bank of Barbados held a relatively small proportion of its portfolio in Bitcoin between 2009 and 2015, the impact on reserve balance volatility (due to exchange rate variation) would not have been significantly different from that experienced due to other major currencies.

Counters the "its too volatile" argument I hear all the time. Its not much different than other FX traded currencies.

fortitudinem multis - catenum regit omnia
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