Bitcoin Forum
December 18, 2017, 06:50:27 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: 2013-1-28 -- Bloomberg: Bitcoin’s Gains May Fuel Central Bank Concerns...  (Read 3655 times)
The Fool
Jr. Member
*
Offline Offline

Activity: 56


View Profile
January 28, 2013, 04:56:00 PM
 #1

http://www.bloomberg.com/news/2013-01-28/bitcoin-s-gains-may-fuel-central-bank-concerns-chart-of-the-day.html

Quote
An increase in the value of bitcoin, the world’s largest online currency, may fuel concerns that virtual money could undermine the role of central banks.

The CHART OF THE DAY shows that bitcoin has more than doubled in the past 12 months, strengthening to $16.37 from $5.88, according to data from Mt. Gox, the world’s largest bitcoin exchange. The money, issued by a decentralized network of computers, has recovered after falling to $2.14 in November 2011 from a high of $29.58 five months earlier.

Greater demand for virtual currencies could have a negative impact on the reputation of central banks, according to a report published by the European Central Bank in October last year. Since the report was released, bitcoin has risen more than 55 percent against the dollar and use of the currency has surged.

Bitpay Inc., a bitcoin payment processing company that recently raised $510,000 in an investment round, this month announced that the number of companies using its services has increased almost 50 percent to more than 2,000 since November, when blog management firm WordPress.com said it would accept the digital currency.

“I think the ECB obviously is concerned, and it’s not reputational,” said Steve Hanke, a professor at Johns Hopkins University in Baltimore who helped to establish new currency regimes in countries such as Argentina and Bulgaria. “I think it’s a competitive threat. Maybe virtual currencies will be so convenient that they will pose a threat because of their ease of use.”

Virtual currencies “could have a negative impact on the reputation of central banks” if their use grows considerably, the Frankfurt-based ECB said in its research paper. “This risk should be considered when assessing the overall risk situation of central banks.”
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513623027
Hero Member
*
Offline Offline

Posts: 1513623027

View Profile Personal Message (Offline)

Ignore
1513623027
Reply with quote  #2

1513623027
Report to moderator
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
January 28, 2013, 05:18:24 PM
 #2

i know this article references the oldish ECB report of last year but OTOH, hitting Bloomberg news is as if this is a fresh new smack in the face.
beckspace
Sr. Member
****
Offline Offline

Activity: 457


"Proof-of-Asset Protocol"


View Profile
January 28, 2013, 05:39:55 PM
 #3

Bloomberg's Chart of the Day:


|
 
 
50
|
 




                       ▄
           ▄▄▄▄▄▄███████
▄▄▄▄█████  █████████████
█████████  █████████████
█████████  █████████████
█████████  █████████████
█████████  █████████████
█████████  █████████████

█████████  █████████████
█████████  █████████████
█████████  █████████████
█████████  █████████████
█████████  █████████████
▀▀▀▀█████  █████████████
           ▀▀▀▀▀▀███████
                       ▀
|
 
 
$1,5 M
|



        ▄▄▄█████████▄▄▄
      ▄█████▀▀███▀▀█████▄
    ▄███▀     ███     ▀███▄
   ████       ███       ████
  ███▀                   ▀███
 ███▀                     ▀███
▄██▀       █████████       ▀██▄
███                         ███
███        █████████        ███
███                         ███
▀██▄       █████████       ▄██▀
 ███▄                     ▄███
  ███▄                   ▄███
   ████       ███       ████
    ▀███▄     ███     ▄███▀
      ▀█████▄▄███▄▄█████▀
        ▀▀▀█████████▀▀▀
|
 
|
 
<>
<>
<>
<>
 
GITHUB
TWITTER
YOUTUBE
FACEBOOK
evoorhees
Legendary
*
Offline Offline

Activity: 994


Democracy is the original 51% attack


View Profile
January 28, 2013, 05:57:44 PM
 #4

Made front page:

BCB
CTG
VIP
Legendary
*
Offline Offline

Activity: 1050


BCJ


View Profile
January 28, 2013, 06:01:37 PM
 #5

Bloomberg's Chart of the Day:



Going UP UP UP!
dree12
Legendary
*
Offline Offline

Activity: 1246



View Profile
January 28, 2013, 06:03:10 PM
 #6

Bloomberg's Chart of the Day:



Going UP UP UP!


Does your nickname stand for "Bitcoin Central Bank"? Tongue
BCB
CTG
VIP
Legendary
*
Offline Offline

Activity: 1050


BCJ


View Profile
January 28, 2013, 06:03:37 PM
 #7

Bloomberg's Chart of the Day:



Going UP UP UP!


Does your nickname stand for "Bitcoin Central Bank"? Tongue

Maybe....
twolifeinexile
Full Member
***
Offline Offline

Activity: 154



View Profile
January 28, 2013, 06:22:17 PM
 #8

May fuel speculation on...
beckspace
Sr. Member
****
Offline Offline

Activity: 457


"Proof-of-Asset Protocol"


View Profile
January 29, 2013, 02:23:08 AM
 #9

I like this dubious critic from commenter TroubleBaby:

Quote
I only leave what I can afford to lose in the bank.

Leaving your money in the bank is risky, I know. I feel this quote backfired!!  Grin

|
 
 
50
|
 




                       ▄
           ▄▄▄▄▄▄███████
▄▄▄▄█████  █████████████
█████████  █████████████
█████████  █████████████
█████████  █████████████
█████████  █████████████
█████████  █████████████

█████████  █████████████
█████████  █████████████
█████████  █████████████
█████████  █████████████
█████████  █████████████
▀▀▀▀█████  █████████████
           ▀▀▀▀▀▀███████
                       ▀
|
 
 
$1,5 M
|



        ▄▄▄█████████▄▄▄
      ▄█████▀▀███▀▀█████▄
    ▄███▀     ███     ▀███▄
   ████       ███       ████
  ███▀                   ▀███
 ███▀                     ▀███
▄██▀       █████████       ▀██▄
███                         ███
███        █████████        ███
███                         ███
▀██▄       █████████       ▄██▀
 ███▄                     ▄███
  ███▄                   ▄███
   ████       ███       ████
    ▀███▄     ███     ▄███▀
      ▀█████▄▄███▄▄█████▀
        ▀▀▀█████████▀▀▀
|
 
|
 
<>
<>
<>
<>
 
GITHUB
TWITTER
YOUTUBE
FACEBOOK
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!