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Author Topic: 2013-01-29 wealthdaily.com - Virtual Currency Hurting Central Banks?  (Read 761 times)
Akka
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January 29, 2013, 06:27:40 PM
 #1

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Virtual Currency Hurting Central Banks?
Bitcoin Gains Popularity


Bitcoin, the world’s biggest virtual currency, may be becoming a serious player. Its value has been increasing, leading to concerns that it could actually pull down the value of real-world central banks.

In the past year, per Bloomberg, bitcoin value has gone from $5.88 to $16.37. A report by the European Central Bank last October indicated such virtual currencies can have a detrimental effect on central banks and their effect on the real-world market.

Remarkably, bitcoin value shot up 55 percent after that report’s publication.

Johns Hopkins University professor Steve Hanke thinks “the ECB obviously is concerned,” as he told Bloomberg, considering how easy it can be to use a virtual currency like the bitcoin.

More intriguingly, bitcoin gained a lot of popularity in Iran last year, Bloomberg reports, due largely to the difficulty of acquiring dollars and the low value of the rial.

It’s hard to say where this is going, but we’ll definitely be keeping an eye on the bitcoin.

That's all, so nothing important.

It's on their frontage and wealthdaily has 10,962 page-views per day, so that something.

Source: http://www.wealthdaily.com/articles/virtual-currency-hurting-central-banks/3942

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January 29, 2013, 06:38:25 PM
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We're seeing a lot of articles like this lately.

The best part about them is that banks will read these articles and want to stop Bitcoin, while regular people will read them and want to buy bitcoins. This will make people hate banks even more, accelerating Bitcoin's adoption.



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January 29, 2013, 09:48:36 PM
 #3

We're seeing a lot of articles like this lately.

The best part about them is that banks will read these articles and want to stop Bitcoin, while regular people will read them and want to buy bitcoins. This will make people hate banks even more, accelerating Bitcoin's adoption.
Hate banks you mean who do not accept BTC. Even if you don't mean this, this is how I interpret it.

There are "Bitcoin banks" today. Heard of those online Bitcoin wallets? That's a bank. A bank stores value for you, and that's what an online wallet service is.

You must mean large multinational economic institutions that don't handle BTC that people hate.

There may still be hope for the 1st decentralized cryptocurrency which is Bitcoin. How to approach different subjects is key to progress.
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January 29, 2013, 09:58:07 PM
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There is a tendency to be "us versus them" mentality on the part of bitcoiners.

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January 29, 2013, 10:13:30 PM
 #5

Somewhat related:
Hackers and the Alternatives to the Global Financial System
 We find ourselves as a world currently at a pivotal point where the current maligned global financial system is falling way to multiple alternatives as new global financial system models emerge as solid competitors. Hackers will undoubtedly prove themselves as a disruptor to the alternative new financial system frameworks that emerge, and will sculpt the initial framework into its matured institutional state. Due to the leverage that hackers will possess, emerging alternative global financial system frameworks will be heavily influenced by hackers. Simply said, regardless of which global financial alternative is chosen, hackers will own the day. And investment into cybersecurity firms products and services will absolutely skyrocket...
http://www.marketoracle.co.uk/Article38749.html


"Those who would give up essential Decentralization to purchase a little temporary Scaling deserve neither."
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