Timothy Geithner, the Former Treasury Secretary, was asked by Fusion’s Jorge Ramos about bitcoin, and if he would invest in the nascent digital currency: “No, I wouldn’t,” he said, when Ramos asked him to acquire bitcoins. Ramos asked Geithner if bitcoin had value.
“It depends what your objective is,” he added. “As a way to save money, as an investment vehicle? No. It’s a very volatile thing. As a way to make payments? It’s got some risks because its value fluctuates hugely over time. So, it’s got a lot of challenges.” Geithner, always rigorous, admits: “I’m the wrong person to ask,” Geithner said. “I don’t think I really understand it.”
But Geithner could help Bitcoin. It’s just, he probably won’t. Some Bitcoin analysts claim that, with a majority of mining power located in China, a volatile amount of the Bitcoin network is dependent upon nodes behind The Great Firewall. That’s one uncertainty surrounding Bitcoin.
https://www.cryptocoinsnews.com/timothy-geithner-bitcoin-blockchain/
